Oracle Receivables (AR)

The Oracle Receivables (Accounts Receivable) module streamlines invoicing, receipt and customer deduction processing. It is tightly integrated with the Order Management, Service Contracts and General Ledger modules.

Receivables allows businesses to increase their cash flow and minimise late payments and bad debt, while reducing costs associated with customer payment queries and payment processing.

Oracle Receivables can generate invoices from information created in other modules of the E-Business Suite such as Service Contracts and Order Management, but also has the capability to import data from non-Oracle software and even to enter invoices manually.

Oracle Receivables supports traditional invoices, instalment billing, consolidated billing (e.g. on monthly cycle), balance forward billing, chargebacks and deposits.

The BPA (Bill Presentment Architecture) feature allows businesses to customize the style, presentation and detail included on invoices. This feature is driven by the users, with little or no IT involvement and, for example, allows branding and unique terminology to be included on the invoices.

Invoices can be presented electronically, for example via XML, or by paper, and be made available via Oracle iReceivables, the secure web presentation service which allows customers to view and query invoice information online.

Payment receipts are automatically allocated to invoices and many different payment methods are supported, such as bank transfer, credit and debit cards. Receivables aims to reduce days sales outstanding (DSO) and allows rules to be created around late payments. Accounts receivable staff use Oracle Receivables to keep a check on customer accounts, allowing immediate investigation of customer deductions and providing real time information on unidentified payments.

Oracle Receivables supports contra charging. This feature allows customers who are also suppliers to the business to net their balances - receivable Invoices can be balanced out with payables Invoices.

Corporate policies, such as discount and refund approval rules, can be embedded into the system ensuring that compliance with the corporate policy is maintained across the global organization.

There is much more to Oracle Receivables, but this gives you a flavour of the many advanced features that set it apart as a vital solution for an Enterprise seeking to maximise the efficiency of its financial operation.

Links - Oracle Receivables