by Sophia Riley | Oct 6, 2023 | Oracle Cloud Applications, Esker
A Seamless Bridge for Empowering Your Business Processes
Introduction
In an era where automation and integration are no longer optional but essential, companies continually search for solutions that streamline operations, reduce errors, and improve efficiency. Enter the OAN Esker On Demand Connector to Oracle—a game-changing solution that acts as a bridge between Esker’s Source-To-Pay and Order-To-Cash platforms and the Oracle Fusion and EBS ecosystem. But what sets this connector apart in a crowded market?
Built for Seamless Integration
The OAN Esker On Demand Connector is a pre-built solution designed to integrate the Esker platform seamlessly with Oracle Fusion and EBS platforms. But that’s not all; it offers touchless synchronization of master data, eliminating the need for manual data entry or redundant tasks. Imagine the time saved and errors avoided by leveraging a system that syncs all your essential data automatically.
Key Features:
- Seamless touchless synchronization: Effortlessly sync master data from Oracle EBS and/or Fusion to Esker.
- Pre-built Connector: No need to start from scratch. The connector is ready to integrate your Esker platform with Oracle Fusion & EBS platforms out of the box.
Robust and Scalable
One of the biggest concerns companies have about adopting new technology is its scalability and adaptability to future changes. The OAN Esker On Demand Connector addresses this concern by offering continuous development and support. As both Oracle and Esker continue to release new versions of their respective software, this connector evolves right alongside them. You’re not just investing in a solution for today but one that will continue to serve your needs in the future.
Key Features:
- Continuous Development and Support: Stay up-to-date with the latest features and updates from both Oracle and Esker.
- Pre-configured Oracle ERP Validations: Benefit from pre-configured validations that ensure data integrity and compliance with Oracle ERP systems.
Exceptional Document Management and Error Handling
While automation is crucial, the importance of effective document management can’t be overstated. The OAN Esker On Demand Connector uses Oracle Content Management to allow for the storage and retrieval of transactional and supporting documents. This feature not only aids in auditing and compliance but also enhances the overall transparency of your business processes.
But what happens when something goes wrong? The connector is designed to present ERP errors back to you if an issue occurs during the integration from Esker to Oracle. This immediate feedback allows for quick troubleshooting, ensuring that your operations are never halted for extended periods.
Key Features:
- Document Management: Store and retrieve transactional and supporting documents effortlessly.
- Error Handling: In the event of an integration error, the connector relays the ERP error, facilitating quick resolution.
In Summary
Built on the Oracle Cloud Infrastructure and leveraging a suite of Oracle applications, the OAN Esker On Demand Connector to Oracle is more than just a plug-and-play solution. It is a comprehensive tool built to meet the demands of modern businesses. With its seamless integration, future-proof design, and exceptional document management capabilities, it stands out as a pivotal investment for any Oracle-based enterprise.
Choose the OAN Esker On Demand Connector to Oracle and focus on what matters most—growing your business.
by Sophia Riley | Oct 5, 2023 | Accounts Receivable, Automation
AR Automation
Selling services or products and collecting customer payments are key business roles. However, handling these tasks can be challenging if your AR professionals process payments and send invoices manually. They may need help with a lot of paperwork and get frustrated, especially if they’re tracking customer payments.
The good news is that AR automation can revolutionize your finance department and make your business successful. It will streamline your accounts receivable process, accelerate cash flow, and reduce human errors. Ultimately, your AR team will have more time to analyze other aspects of your company’s finances and increase its bottom line. Keep reading to learn more about AR automation.
What’s AR Automation?
AR automation uses cutting-edge technology to optimize financial processes. It automates tiresome and repetitive tasks and helps businesses collect money customers owe. It also speeds up a company’s approach to receiving payments from customers who purchase services or goods on credit. Businesses that use automation systems are likely to witness improved sales outstanding, profitability, and cash flow.
Before automation, employees performed accounts receivable tasks manually, following several details and steps. AR automation systems eliminate this laborious process, giving employees time to work on other vital tasks. This increases the rate of collecting money owed and minimizes billing errors.
How Does Accounts Receivable Automation Work?
AR Automation relies on sophisticated algorithms and software to handle repetitive and time-consuming tasks. Every company has variations in its workflow. However, AR automation relies on three elements: payment collection, invoicing, and reconciling accurate information.
Automation simplifies the process of generating invoices required to meet customers’ needs. It reduces the process of entering data manually, thanks to its features that allow it to take and store payment terms, invoice details, and customer-specific information. When inputting data during purchase, it remains in the customer’s account throughout the payment journey. For instance, if a client is supposed to be billed on a particular date, say the 5th of every month, it will automatically generate and deliver invoices on that day.
Moreover, AR automation can manage payment methods, track collection, match sales orders with invoices, and identify expired credit cards. Companies can also use it to encourage early payments and discourage late payments. AR databases provide real-time reports on payment statuses, making it easy to communicate with customers. This technology will enable you to accelerate your workflow, slash pesky human errors, and ensure the utmost accuracy in your financial dealings.
Advantages Of AR Automation
Improved Cash Flow
Cash flow is the lifeblood of any business, and AR Automation knows how to keep it pumping. Automating your invoice and payment processes will enable you to receive payments faster. It will also let you reduce your company’s DSO. In 2021, about 60% of surveyed businesses witnessed an improvement in DSO after AR automation.
Streamlined Workflow
Say farewell to the chaos of scattered paperwork and endless back-and-forth emails. AR Automation is your secret weapon for a smooth and organized workflow. It works like an expert conductor orchestrating your financial symphony. With everything in perfect harmony, you’ll have more time to focus on growing your business.
Increased Accuracy
Human errors are difficult to avoid, and they can cost you dearly. AR Automation eradicates these slip-ups, ensuring every “i” is dotted and every “t” is crossed. Automation will enhance your data consistency, minimize billing disputes and instances of duplicated invoices, and ultimately make your customers happy.
Reduced Costs
As they say, “Time is money,” and AR Automation can save both. It eliminates manual tasks, frees valuable resources, and reduces operational costs. Through AR automation, your business will use e-invoicing to keep you from using paper and ink and reduce postage charges. Automation also reduces the need to write off unsettled invoices.
Better Reporting
Clear, concise, comprehensive reports are the backbone of sound financial decision-making. AR Automation equips you with real-time data and visually appealing reports, offering real-time insights into customer payment statuses. With automation diligently monitoring open receivables, managers can proactively take measures to increase the likelihood of receiving timely payments. This can boost the company’s financial health.
Increased Compliance
Staying compliant with financial regulations can be as tricky as untangling a knot, but AR Automation can make you stay on the right side of the law.
As your business expands its markets, you may be required to adhere to several geographical-specific requirements. Each state or country may have distinct laws and regulations that must be followed. Automation software acts as a vigilant guardian. It will meticulously track these complexities, ensuring compliance.
Improved Customer Relations
Customers are the heartbeat of your business, and AR Automation knows how to keep them happy. Through timely reminders and efficient handling of accounts, it will help you build rock-solid relationships that last a lifetime.
Disadvantages Of AR Automation
Challenging To Use
As with any new technology, using AR Automation systems might be challenging. Your employees may require some time to learn how to use the software. However, they’ll get the hang of it with practice, reducing their workload.
Expensive To Implement
It’s true; quality comes at a price. Implementing AR Automation might require some investment upfront. Nonetheless, these costs typically balance out with the company’s substantial savings through heightened efficiency and productivity.
What Processes Can Your Company Automate?
Invoicing
Tired of manually sending out invoices and tracking payments? AR Automation has your back. With just a few clicks, you can automate the invoicing process and watch payments roll in like a gentle rain shower on a summer’s day.
Processing Digital Payments
Cash and checks are so yesterday. AR automation can handle digital payment processing, increase convenience and security, and enhance payment flow.
Customer Outreach
Communication is vital, and AR Automation ensures you never miss a beat. Through this technology, you can send personalized reminders, thank-you notes, and gentle nudges to customers effortlessly.
Key Features Of An AR Automation System
Automating Emails
AR Automation systems are masters of email wizardry. They can automatically send reminders, acknowledgments, and follow-ups while maintaining a personal touch.
Distributing And Generating Invoices
Remember the days of printing and mailing invoices? Those days are long gone. AR Automation can distribute invoices electronically, saving you time, money, and paper.
Matching Transactions
Reconciling transactions can be a tedious task. However, AR Automation can handle it with finesse. It matches your payments to invoices and ensures that your books are always balanced.
Several Payment Options
AR Automation gives customers choices. From credit cards to digital wallets, your customers can pay in ways that suit them best.
Data Reporting
Data is the heart of intelligent decision-making. Thankfully, AR Automation systems are designed with several data reporting tools. Visualize your financial landscape with charts and graphs that make tracking and analyzing payments easier.
Managing Credit Risks
Staying on top of credit risks is essential for a healthy financial ecosystem. AR Automation will monitor credit limits and alert you of potential risks.
Wrapping Up
AR Automation can be your financial ally. If you install this software, you’ll conquer your accounts receivable challenges and revolutionize your economic landscape. Implement this technology in your business today and watch it soar to new heights.
by Sophia Riley | Oct 3, 2023 | Accounts Payable, AP Automation, Automation, Digital Transformation, Invoicing
Is your accounts payable crew swamped beneath a heap of papers? Are they occupied to the point where you need more employees to handle the load? If this is the state at your company, it’s growing faster than your present AP methods can handle.
Streamlining AP processes can help you solve this problem, giving you less hassles and better sailing. With a simplified AP process, your team won’t have to sift through mountains of paperwork. They’ll glide through tasks more effectively and save some time to focus on the nitty-gritty that matters.
And there’s more. Simplifying your accounts payable processes will help you minimize errors. Mistakes can be quite expensive to fix, especially if they’re serious. Thankfully, simplified AP processes can help you overcome these financial fiascos and keep your wallet happier. The more simplified your processes are, the higher the morale of your employees. Keep reading to learn the steps for simplifying AP processes.
Take Inventory
It’s important to examine how long your staff takes to handle AP processes. If they’re wasting time wrestling with AP, it’s time to take inventory of your current methods.
When you take stock of what’s happening, you’ll uncover the tiny parts that make up the process. You’ll see where things might be getting tangled up or lost. With this insight, you can tweak and tailor the processes to make them faster — but that’s not all.
Taking inventory will enable you to spot the differences in how your employees do the same job. You can share the tricks that work with others to improve efficiency. Essentially, taking inventory isn’t just some extra task on your to-do list. It’s a passport to success. Digging into the processes, measuring time, and spotting the differences will help you revamp your finances.
Standardize AP Processes
Observe how the employees handling your accounts payable (AP) go about their work. Pay attention to how long it takes them to handle invoices and the steps they follow. You can greatly improve your accounts payable system by creating consistent methods that everyone on your team can use.
Establishing uniform procedures can also make your processes more efficient. When your team follows the same steps for handling invoices, there will be less confusion and errors. This can save time and improve the accuracy of your financial records.
Without standardized accounts payable processes, you might encounter several challenges. Firstly, consistency in how invoices are processed can lead to data entry and record-keeping mistakes. This can result in financial discrepancies and potential problems during audits. Secondly, if employees have their ways of handling invoices, it can be challenging to track the status of payments or identify bottlenecks in the process. A lack of visibility will lead to payment delays and strained vendor relationships.
To address these challenges, implementing standardized procedures is crucial. Begin by documenting a clear step-by-step process for handling invoices, from receipt to payment. Provide training to your AP staff to ensure they understand and follow these procedures, and regularly review and update them to adapt to changes in your organization or industry practices. Doing this will enhance your AP processes’ efficiency, accuracy, and transparency and promote better financial management.
Embrace Digitization
Shifting your workplace into the digital space comes with several advantages. One of the most significant is the reduction of paper usage. Going paperless benefits not only the environment but also your peace of mind.
Using paper presents a range of drawbacks for businesses. These include:
Loss and damage: Critical documents like invoices are susceptible to getting lost, misplaced, or even damaged when handled on paper.
Cost: Printing out paper documents can be expensive. You’ll incur costs for paper, ink, and printing equipment maintenance.
Space constraints: Storing archived paper documents can lead to space-related challenges. They’re likely to crowd your office and make retrieval difficult.
Security concerns: Sensitive information can be vulnerable when stored on paper. It can be easily stolen or accessed by unauthorized individuals.
Digital solutions can help you to avoid these problems. Adopting an ERP system will enable you to perform paper-heavy tasks digitally. Such tasks include receiving and approving electronic invoices and securely archiving paid documents. Furthermore, digitization can boost teamwork among colleagues. Through online document sharing, your employees will have real-time communication and better productivity.
Get Rid Of Manual Data Entry
Entering data manually can be stressful. Let’s face it: human fingers aren’t always the most accurate typists. Typos and misentries can sneak into your records, leading to confusion. Fortunately, a modern solution can save you from this old-fashioned practice – optical character recognition. This technology can instantly spot and grab data from scanned documents or electronic files. With OCR, you’ll spend less time entering data. The cherry on top? It’s not just your budget that will benefit, but your employees will be happy too.
Store Records Properly
Locating documents in physical storage locations can be quite challenging and time-consuming. You may spend more time searching for the documents, especially if they’re kept in a large room. Making room for extra stacks may also be difficult.
Thankfully, with the help of an ERP system, you can stash away your documents in digital form. When you need them, they’re just a click away. Cloud storage for your business records will add a layer of convenience as your employees can get them from wherever they are.
Invest In An AP Automation Software
Old methods slow down whole processes. Waiting for approvals and hunting down records can add up and hurt your company’s efficiency. If you want to modernize your workspace and make your accounts payable tasks smoother, you should include AP automation in your strategy. There are software options out there that are designed to do just that. These systems take care of repetitive, time-consuming tasks and help you focus on things that bring real value, making dealing with invoice info way more efficient thanks to the ability to snag, check, and tuck away data in a digital archive.
by Sophia Riley | Sep 28, 2023 | Sales Order Processing, Automation
Sales orders play a crucial role in the operation of a business. They describe the details and rules of a sale, which in turn helps the company monitor its supplies and the costs related to production. These orders are also vital when preparing precise financial records during tax periods.
If you have a company aiming to enhance its management of sales orders, this guide is designed for you. It will sharpen your precision, guide you through the contents of a sales order, and optimize your procedures. This will ensure you have the fundamental knowledge needed to oversee orders. Keep reading to learn more about sales order automation.
The Definition Of A Sales Order
When a customer decides to buy products or services from a business, they create a sales order. This official paper lays out all the important information about the deal. It’s super important because it keeps track of the customers and business agreements.
You can think of a sales order as a rulebook for a sale. It makes sure that everything is clear and fair. For example, if you’re buying a cool new gadget online, the company will tell you when the order becomes official, their names and contact info, where they’ll send the stuff, and how much the product costs before and after taxes. These details will keep you on the same page and let you know when your product will be delivered. And guess what? This paper will be signed by both sides to make it official.
The Importance Of Sales Orders
Sales orders play a crucial role in the sales process. They’re like a guidebook that helps you and the seller understand exactly what’s happening. This way, nobody gets mixed up, and everything moves perfectly. Here are some benefits of using sales orders.
Make things move faster: Imagine you’re at a theme park. Sales orders are like the express pass that lets you skip the long lines. When a seller gets your order, they know exactly what you want and can get it ready without hassle. This means you get your stuff quicker, and they get to serve more people, which makes everyone happier.
Enhance processing: Without sales orders, things could get tangled up like a knot in a shoelace. But with clear sales orders, your request will get special treatment, zipping through every step until it lands at your door.
Build relationships: Sales orders are the secret ingredient that makes a cake taste amazing. They make the whole process smoother, from when you click “Buy” to when you receive your item. When things go smoothly, you and the seller feel good about the transaction. Plus, a happy buyer is likely to return for more, and a happy seller builds a reputation for great service.
Establish clear expectations: Sales orders lay out every detail of the transaction, from the product itself to the price, delivery date, and more.
Minimize disputes: Remember when you ordered a product and got a different one instead? It’s frustrating, right? Sales orders prevent such mix-ups. They make it easy for a seller to double-check everything before sending it your way. With them, you can be sure you’ll get exactly what you asked for.
Keep track of sales performance: Sales orders can let you look back in time and see everything you’ve ordered. It doesn’t just list stuff, it records your buying journey. Through these orders, you can know how much you’ve spent, how often you buy, and your favorite things.
Give vital financial information: Sales orders can show how much money you spend on shopping. At the same time, they give the seller insights into their earnings. These numbers are vital because they tell a story of value and exchange between you and the seller.
Show areas that need improvement: Think of sales orders as a treasure map with secret clues. They’ll tell you what you’ve bought and provide hints on improving things. When businesses review their sales orders, they can spot patterns and trends. These patterns can help them understand your preferences, anticipate your needs, and create products and services that exceed your expectations.
The Steps For Creating A Sales Order
Now that you’ve understood what a sales order is and why it’s vital, let’s look at how you can craft one. There are a few fundamental components that every order should have. They include:
- Sale date: Start by noting the date when the sale is initiated.
- Customer and seller information: Ensure you include the name and contact details of both the customer and the seller. This information is vital for tracking and communication.
- Goods or services description: Clearly describe the goods or services that are being requested. Use simple language so everyone can understand.
- Quantity ordered: Specify how many units of the goods or services are being ordered to help manage inventory and resources.
- Unit price: Mention the price of each unit. This is crucial for calculating the total cost.
- Total order price: Calculate and state the total price of the order by multiplying the unit price by the quantity ordered.
- Payment terms: Define the payment terms, such as when the payment is due and the payment method.
- Delivery details: Clearly outline the delivery information, including where and when the goods or services will be delivered.
Developing a sales order is a straightforward process. Just make sure you include all the required details and you’re all set. Remember, it’s crucial to draft this document before any transaction is done. The contract becomes binding once the parties have approved the order through a signature.
Do Purchase And Sale Orders Work Together?
Think of a purchase order as a document you use to ask a seller for things you want to buy. You give the seller a list of what you want, with details like what they are and how many you need, and the seller agrees to give you those things at a certain price.
Now, a sales order is different. This one is used by the individuals who sell goods. When you send them a purchase order, they get your desired list. After they process it and figure things out, they send you back a sales order. This order confirms the price, how many items they have in stock, and when to expect them to be delivered.
by Sophia Riley | Sep 26, 2023 | Oracle Cloud Applications
As a business owner, you always look for ways to streamline your operations and make things run more efficiently.
One way to do this is by investing in Oracle Cloud Applications. But let’s be honest — integrating these applications can be daunting. However, fear not! With some best practices and know-how, you can successfully integrate Oracle Cloud Applications and reap the benefits of streamlined business processes and improved data quality.
In this article, we’ve got you covered with everything you need to know to make the integration process a success.
Are you ready to take your business to the next level? Then, let’s dive into the world of Oracle Cloud Applications Integration!
Benefits of Oracle Cloud Applications Integration
Integrating different applications is essential for businesses to improve productivity, reduce costs, and make better decisions based on accurate data. With Oracle Cloud Applications Integration, companies can streamline their processes and benefit from improved data quality.
Here are some reasons why integrating different applications is essential:
- Increased Productivity: Integrating different applications automates repetitive tasks and reduces manual errors, allowing employees to focus on more important tasks.
- Cost Reduction: Integration eliminates the need for manual data entry and reduces the risk of data errors, reducing the need for costly data cleanup and correction.
- Improved Data Quality: Integrating different applications ensures that data is consistent across different systems, reducing the risk of errors and ensuring that decisions are based on accurate data.
You can use these benefits by integrating different applications and improving their performance. Oracle Cloud Applications Integration provides the tools and best practices necessary to successfully integrate different applications, making it easier to streamline processes and make better decisions.
Common Challenges and Solutions
Data mapping, connectivity, and data quality issues are common challenges you may face during the integration process. Data mapping can be challenging due to the different formats and structures of data in different applications. Connectivity issues can occur when connecting different applications and systems. Data quality issues can arise when integrating data from different applications. Therefore, it is important to carefully analyze the data and ensure that it is accurate and correctly transformed during integration.
To ensure that the integration process is successful, it is essential to have a plan in place to address these challenges. Here are some points to consider:
- Plan the integration process carefully and involve experts in the planning process.
- Understand the dependencies and intricacies of integration flows before beginning the integration process.
- Accurately map data from the source application to the target application to avoid data errors.
- Choose the right adapters and connectors compatible with the applications and systems you’ll be integrating.
- Test all components of the integration process thoroughly with real-world scenarios to identify and address any potential issues.
- Monitor the integration process by defining Key Performance Indicators (KPIs) and setting up alerts to be notified of any issues that may arise.
Understanding Integration Flows
Integration flows are at the core of Oracle Cloud Applications Integration, defining data movement between different applications. This is why it’s important to understand the dependencies and intricacies of integration flows before beginning the integration process.
Start by identifying the various applications that need to be integrated and determining how data will flow between them. This will help you create a sequence of steps that define the integration flow and ensure that you carefully plan it.
By understanding the dependencies between different applications, you can avoid mistakes and ensure that the integration process runs smoothly.
Mapping Data
Mapping data is a crucial aspect of integrating Oracle Cloud Applications. Data errors can occur without proper mapping, and the integration process may not run smoothly.
During the mapping process, you must accurately define the source and target fields and transformation rules. This helps ensure that the data is accurately transformed to the correct format for the target application.
Mapping data can be a time-consuming process, but it is essential to get it right to avoid data errors.
To ensure a successful integration process, it is necessary to accurately map the data from the source application to the target application. This involves defining the field structures and transformation rules required to ensure the data is accurately transformed.
Using Adapters and Connectors
In Oracle Cloud Applications Integration, Adapters and Connectors play a crucial role. Adapters connect the Oracle Cloud Application to other applications, while connectors connect the Oracle Cloud Application to on-premises systems.
Choosing the right adapters and connectors is needed for a successful integration. Consider the compatibility of the different applications and systems you’ll be integrating.
Testing the Integration Process
Testing is yet another essential part of the Oracle Cloud Applications Integration process. It’s a critical step that helps ensure the successful integration of different applications. During the testing phase, all components of the integration process, including integration flows, data mapping, and other critical elements, must be tested thoroughly.
Testing with real-world scenarios mimicking the actual usage of the integrated applications helps identify any issues beforehand. This helps avoid costly mistakes or downtime that can harm the business. Moreover, the testing phase helps ensure that business processes are streamlined and efficient, and data quality is improved.
Monitoring the Integration Process
Monitoring helps ensure the integration process runs smoothly and any issues are identified and resolved quickly. By defining Key Performance Indicators (KPIs) and setting up alerts, you can be notified of any issues that may arise during the integration process. It’s important to understand the dependencies between different applications, and how data flows between them.
To ensure a successful integration process, it’s important to adhere to best practices, such as defining clear requirements and mapping data accurately.
Conclusion
Oracle Cloud Applications Integration is a complex process that requires careful planning, testing, and monitoring. By following best practices and addressing common challenges, you can successfully integrate Oracle Cloud Applications and enjoy the benefits of streamlined business processes and improved data quality.
Remember to thoroughly test and monitor the integration process, choose the right adapters and connectors, and adhere to best practices to ensure that the integration process runs smoothly and successfully.
