In the fast-paced world of enterprise resource planning (ERP), having a robust system is just the beginning. Oracle ERP Cloud not only provides powerful features, but it also requires customers to strategically enable and configure these functionalities to truly unlock their potential. Understanding what features are delivered disabled and what can be used immediately is crucial for organizations looking to streamline their processes and maintain a competitive edge. In this blog, we’ll delve into essential features of Oracle ERP Cloud that you need to activate, as well as those that are ready to use right out of the box.
- Features Delivered Disabled: Your Roadmap for Action
Oracle ERP Cloud offers a variety of features that come delivered in a disabled state, meaning organizations must take action to enable them. Let’s explore some of the key areas where customer intervention is required.
Payables and Receivables Invoice Processing
- User-Defined Holds on Payables Invoices
This feature enables users to place specific holds on invoices based on custom criteria, enhancing invoice management. It requires opting in and completing the setup.
- Receivables Transaction Review and Control
To ensure accuracy in transactions, organizations need to adjust security settings. Enabling this feature allows for robust oversight in receivables, crucial for comprehensive financial management.
Payment Processing Enhancements
- Embedded Banking Services with J.P. Morgan
This advanced feature streamlines payment processes but needs a service request to enable essential updates for check printing. Automating your payment workflow can significantly reduce administrative overhead.
Accounting Innovations
- Exception-Based Approvals for Manual Subledger Entries
Enabling this feature provides a layered approval process for modifications, thereby increasing accountability in financial transactions.
- Sweep Accounting Hub Transactions to the Next Open Period
This helps organizations maintain better financial continuity across reporting periods, but requires setup to function effectively.
Planning, Budgeting, and Security
- Automatic Funding of Expense Budgets from Revenue
This feature simplifies budget management through automation, saving time and reducing the likelihood of errors.
- Segment Value Security
Organizations can boost data security by setting up segment value restrictions, which is vital for sensitive financial information management.
- Features Delivered Enabled: Immediate Gains for Users
Some features in Oracle ERP Cloud come ready for use, allowing organizations to harness their benefits without delay. Here are notable examples:
Small Scale UI Features
- Automatic Incrementing of Date Parameters for Validate Payables Invoices Process
This minor enhancement streamlines invoice validations, making the process more intuitive and user-friendly.
- Search Filter for Expense Reports
This allows auditors to more effectively interact with expense data, improving compliance and reporting accuracy.
- Reports and Analytics
Oracle ERP Cloud comes with a suite of new or modified, ready-to-run reports that provide insights without the need for custom development. These reports can help organizations make data-driven decisions quickly.
As organizations navigate the complexities of using Oracle ERP Cloud, understanding how to enable and configure features is critical for achieving operational efficiency. By activating key functionalities, businesses can create a tailored experience that meets their unique needs.
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