Oracle Advanced Collections - Toolbox.com

Oracle Advanced Collections Earlier Oracle had a “Collections” Functionality built inside the AR which gave users a very little of Collections. This Oracle Advanced Collections is a Separate Module sits On-Top of Oracle Accounts Receivables providing users a Very Wide range of Collections Activities and Functionalities and thereby taking Collections to a Next Level. Oracle Advanced Collections uses many Business Essential features like Notes, Territory Management, Resource management etc., from Oracle CRM. And it integrates well with Oracle Credit Management Module. Here are some best features of Oracle Advanced Collections in different Areas of Receivables Management

Collections: 1. Providing a Every Day Work Queue of Customers at different Levels (Bill-to, Customer, Account &Delinquent Levels) for Collectors 2. Providing a Strategy to Collect on Customers – (Different Strategies can be assigned to different Collectors 3. Territory Management (Assigning different set of Territories based on Geographical location of customers, Type of Business etc) 4. Scoring Customer Accounts 5. Invoice Viewing thro Bill Presentment Architecture (BPA) 6. Access to Customer Master with a Touch of button 7. Adding Notes at different levels 8. Collector Backup Management 9. Use of XML Publisher to mail out Dunning Letters

Cash Application 1. 2. 3. 4.

Improve productivity Increase on-line check history (i.e. 90 days to 180 days) Increased on-line check detail history to 180 days (to expedite research) Reduction in past due billings to customer (i.e. reduce the research required to apply unidentified cash) 5. The ability to interface electronic payments (i.e. Lock Box, EFT, EDI, ACH) 6. The capability to apply cash automatically (flexible algorithms) 7. The ability to perform search facilities while in a cash application mode 8. The ability for a cash applicator to view account status 9. The ability for cash appliers to access customer comments 10. The ability to contain both automatic and manual write-off thresholds for cash application 11. The ability to create a discrete transaction and date for a short payment/deduction

Dispute Management System 1. Visibility of information on the volume, dollar amount and types of problems to collectors, management and other parties concerned at all times 2. Automatic escalation will provide collectors with more time to spend on their portfolio 3. Increase recovery rate on disputed items 4. Reduced A/R as disputed related items are eliminated 5. Increased customer satisfaction and retention resulting from higher quality service 6. Reduced operating costs as rework and administrative errors are eliminated 7. Automatic notification and escalation for each type of problem to the individual departments Thus Oracle Advanced Collections helps your Receivables Management System in many aspects.

Here is a simple Flow chart explaining briefly Advanced Collections Data / Process Flow

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