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Positive Pay Implementation – Step by Step Guide

Posted on July 26th, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Now that you know what Positive Pay is, you need to find out how to start using Positive Pay.

First, we need to start by saying that EVERY bank handles Positive Pay differently.

The steps/outline presented here are just a representation of what the most common implementation procedure could look like.

1. Contact your bank about signing up for Positive Pay.

You can start gathering these info first with Banking Partner

  • Do they currently offer Positive Pay?
  • What does it cost?
  • What are the steps to implementation?
  • How long will it take?

2. Receive bank's requirements.
Once you have signed up for Positive Pay with the bank, they should provide you with a Positive Pay (or Account Reconciliation) Information /details which includes (among other items):

  • File layout specifications
  • Transmission methods
  • Other Procedures and Guidelines

3. Find out what your accounting software package can produce.

  • You are trying to produce a file or report that contains a list of all checks issued for a certain date or date range.
  • You will either need to export this data or print the data to a text file.

4. Find an alternative method for creating a file that the bank will accept (if the accounting software does not produce something that is compatible with the bank's requirements).

5. Receive transmission and testing instructions from the bank.

  • This will explain the method and procedure for transmitting the data file from your location to the bank.
  • Submit test file
  • The bank will test the file for accuracy and compatibility and provide the results.

7. Start submitting live files

  • The bank will provide the official live date as well as any further instruction

Posted in Oracle Payable | No Comments »

Understanding Positive Pay

Posted on July 25th, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Positive Pay can best be described as a fraud prevention program or tool.

Technology has increasingly facilitated the ability of criminals to create counterfeit checks and false identification that can be used to engage in fraudulent check activities. As a result, companies must adopt practices to protect against check fraud.

Positive pay can provide this protection for companies by enabling them to create a file of check information that their banking institutions can use when determining whether to issue payment for checks.

Positive Pay technology allows banks to reconcile company issued checks with bank items presented for payment, and flag the exceptions.

No altered, copied, or counterfeited checks are cashed. This clearly helps banks cut down on check fraud losses.

Following are the advantages of Positive Pay:

  • Avoid losses due to check fraud.
  • Facilitate the check reconciliation process.
  • Enhance overall cash management program.
  • Augment risk management measures

When you use positive pay, you create a file for your bank that includes information for each check that you printed during the day, such as check number, date, amount, and account number.

The bank compares the information on the checks that they receive with the information in this file, and if the information for any of the checks does not match the file, the system does not pay the checks.

Why is Positive Pay so Important?

Positive Pay implementation is the principal action in the development of a corporate check fraud strategy.

Originally created by big companies , Positive Pay has proven itself as an effective weapon in the war against check fraud.

Until recently, due to the custom computer programming and data transmission requirements, Positive Pay had been very expensive and difficult to implement, reserved only for very large corporations.

The complexity of Positive Pay implementation had been further compounded by a lack of industry standardization that resulted in each bank individually developing their own unique file transmission specifications and requirements.

Positive Pay has become the most effective tool for fighting check fraud. And the recent enchancement of Payee Positive Pay has made it nearly impossible for a check to be fraudulently produced or modified successfully.

Positive Pay Today

Many bank customers are not really concerned about check fraud because they are still under the impression that the bank must absorb all of the check fraud losses.

But with check fraud expected to exceed $50 billion [ adopted Internet ] annually, the federal government has ruled that bank customers must also be responsible for check fraud losses.

Therefore , not only do banks want their customers to be using Positive Pay, the bank customers are also motivated to prevent fraud.

Banks expect that the number of customers using Positive Pay will multiply many times over in the next few years.

Do you still have these Business Problem

  1. POR – Pay on Receipt
  2. Global Payment Compliance
  3. Periodic Recurring Payments
  4. Check Printing
  5. Prevention of Check Fraud

In that case , Positive Pay Implementation may be an options to automate . Next Post , we will take deep dive on Positive Pay Implementation Process...Untill Then .:)

Posted in Oracle Payable | No Comments »

Release 12.2.5 AR Enhacement : Apply Receipts Automatically based on Match Score and Knapsack Method

Posted on July 23rd, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

This is one of R12.2.5 Enhancement in EBS AR.

The Automatic Cash Application improves accuracy and on-time application of cash receipts with the introduction of two new methods for automatically applying cash receipts.

  • The first method generates match scores using the Levenshtein distance algorithm and automatically applies the receipt based on a score threshold.
  • The second methods applies receipts by knap sacking the receipt amount and the open transactions of the customer.

Both methods provide suggested matches when a receipt cannot be applied automatically

Background information on the Levenshtein distance algorithm [ From Wikipedia, the free encyclopedia ]

In information theory and computer science, the Levenshtein distance is a metric for measuring the amount of difference between two sequences (i.e., the so called edit distance).

The Levenshtein distance between two strings is given by the minimum number of operations needed to transform one string into the other, where an operation is an insertion, deletion, or substitution of a single character. A generalization of the Levenshtein distance (Damerau–Levenshtein distance) allows the transposition of two characters as an operation. Some Translation Environment Tools, such as translation memory leveraging applications, use the Levenhstein algorithm to measure the edit distance between two fuzzy matching content segments.

The metric is named after Vladimir Levenshtein, who considered this distance in 1965.It is often used in applications that need to determine how similar, or different, two strings are, such as spell checkers.
For example, the Levenshtein distance between "kitten" and "sitting" is 3, since the following three edits change one into the other, and there is no way to do it with fewer than three edits:

  1. kitten -> sitten (substitution of 's' for 'k')
  2. sitten -> sittin (substitution of 'i' for 'e')
  3. sittin -> sitting (insert 'g' at the end).

Posted in Oracle Application, Oracle Receivable, Release12 | No Comments »

Oracle Data Relationship Management Analytics

Posted on July 23rd, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

The following Patch Set Updates have been released Recently for Oracle Data Relationship Management 11.1.2.4.341.

  • Patch 23236297 - PATCH SET UPDATE: ORACLE DATA RELATIONSHIP MANAGEMENT - 11.1.2.4.341
  • Patch 23750023 - PATCH SET UPDATE: DATA RELATIONSHIP MANAGEMENT ANALYTICS - 11.1.2.4.341

Oracle Data Relationship Management Analytics is a capstone dashboard and reporting application that draws upon the transactions, requests and actions performed within the suite to provide change and growth analytics for end users, operational intelligence for governance program managers and subject matter experts, as well as operational reports for administrators and access managers to optimize transformation initiatives.

The new DRM Analytics module was a long-awaited tool for monitoring DRG requests, user security and activity.
Several dashboards are available for users:

  • Change Management Dashboard - Aggregated views of changes that have occurred in the Data Relationship Management system over time
  • Growth Analysis Dashboard - Provides analysis of how versions and hierarchies have changed over time
  • Request Monitoring Dashboard - Displays KPIs relating to DRG requests
  • Model Analysis Dashboard - Analysis of workflow model design: historical performance
  • User Role Assignment Report :Provides a list of users by role or roles by user with counts by licensed user types.
  • Access Group Membership Report :Provides a list of users by interactive and workflow user groups.

Posted in MDM | No Comments »

Its all about DRG(Data Relationship Governance)

Posted on July 22nd, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

You know, Oracle Data Relationship Management (DRM) is a web-based user-friendly platform for users to manage enterprise dimensions.

The application provides many features such as SOX-compliant auditing, powerful and highly customizable business rule enforcement, versioning capabilities for storing historical views of dimensions, and multiple integration formats.

Within DRM , DRG adds configurable, collaborative workflow to help automate master data change management.

Oracle Data Relationship Governance provides the change management and data quality remediation workflows essential for front-line business users, subject matter experts and signing
authorities.

Oracle Data Relationship Management delivers timely, accurate and consistent master data to drive ongoing operational execution, business intelligence and performance management.

Moreover , Oracle Enterprise Data Governance solutions ensure data quality, policy compliance, repeatable business processes, cross functional collaboration and change awareness throughout the enterprise.

DRG is a fully configurable, out-of-the-box governance workflow. It is very good alternative to BPEL and Third Party workflow tools.

  • Native to DRM Platform
  • Metadata aware
  • Pure configuration, no coding
  • Existing DRM Administration skills should suffice
  • Lowest TCO
  • Email notifications

Unique Features of DRG:

  • Provides an easy to use tool to help manage requests and approvals for master data changes.
  • Integrated workflow with DRM enhances existing DRM implementations and can re-use DRM (hierarchies, properties, validations, and security).
  • Configurable tasks and workflows can be designed and deployed by business users.
  • Workflows can be configured to handle simple or complex requests, multi-line items, various actions (Add, Update/Enrich, etc.).
  • Email notifications and web interface provide information for tracking activity, history, and other audit needs.

Benefits – What’s in it for you?

  • Provides workflow for DRM, enhancing any DRM implementation.
  • Compliments any Data Governance Council, providing the tool to achieve master data alignment.
  • No coding required: Business users can drive the process and have direct participation in building the solution.
  • Flexible: Workflows can be adjusted or modified to suit the needs of the business.
  • Fully Integrated: Avoid time consuming efforts to leverage DRM outside of the tool, DRG works with the existing features of DRM.
  • Provides fully transparent activity trail compliance and audit, as well as email notifications.

The Core

DRG is a component within Oracle’s Data Relationship Management , act as a tool that allows DRM users to easily make changes to their data hierarchies.

It also allows users to communicate within the DRM system, which means users can view, request, and approve data changes all in the same place.

Those , who need more details, can understand DRG has four main focal points:

  1. User Roles
  2. Access Levels
  3. Workflow Tasks
  4. Workflow Stages.

User Role

There are several DRG User Role Permissions that can be assigned to DRM users. The permission with the most freedom is the “Workflow Participant”. This permission allows users to Request and/or Approve changes to the data hierarchies. The next level down in the DRG permissions is “Browse Versions”, which allows DRM users to navigate through different versions within the DRM system, but doesn’t allow them to request and/or approve changes to the data structures. Finally, there are three more permission levels: “Browse Hierarchies”, “Browse Categories”, and “Browse Properties”. These three permissions are the lowest level of permissions and there names describe what the user is able to navigate through.

Access Level:

In Data Relationship Governance, there are six different Access Levels that users can be given. All of these access levels build on each other, so, for example, level 3 includes all of the access rights that level 1 and 2 have. Level 6 has all of the access rights that levels 1 through 5 have. The six Access Levels in DRG are: Read, Limited Insert, Edit, Insert, Inactivate, and Add. Read access only allows users to view the data. Any user with this Access Level cannot make any changes. Limited Insert is allowed to insert a node, but only if that node has Global Properties. The Edit access level allows users to modify property values. The Insert access level grants users the ability to insert, move, and remove nodes. Inactivate allows users to deactivate and reactivate nodes. Lastly, the Add access level allows users to do all of the previous tasks, plus add or delete nodes.

Workflow Tasks

A workflow task represents a change action to be performed along with a set of properties to be displayed, edited, and required during the task.

Workflow tasks are defined outside of workflow models and can be used by multiple models to ensure consistency of common tasks performed in different business processes

Workflow Tasks are made up of an action type, properties that need to be reviewed, and validations.

There are eight different Action Types a Workflow Task can use: Add Leaf, Add Limb, Delete, Inactivate, Insert, Move, Remove, and Update.

These Action Types are self-explanatory and they are named for exactly the action that they perform.

Workflow Tasks must be created in the Administer tab within DRM before any user can Request and/or Approve any data changes.

Workflow Stages

A workflow model consists of multiple workflow stages. When a stage is defined for a workflow model, the stage type defines the level of participation for users in that stage of the workflow. A workflow model has:

  • A single Submit stage which is defined by a list of allowable workflow tasks that can be used to submit changes
  • An optional series of Approval or Enrichment stages, each consisting of a single workflow task
  • A single Commit stage used for final approval and commitment of all workflow tasks performed

There are four stages in total, but only three of them are required.

The Workflow stages include: Submit, Enrich, Approve, and Commit.

The Submit stage is where the requests for any sort of data change take place. All of the Action Types are associated with this stage except for the Update action.

The Enrich stage is used to update requests that have already been submitted. This is the stage that is not always necessary to be included, and includes the Update, Insert, and Move Action Types.

The third stage is the Approve stage, which is where all requests are viewed and managed. The Update Action Type is also a part of this Workflow Stage, which is why the Enrich Workflow Stage does not always need to be included.

Finally, the Commit stage is where requests are approved or rejected. Only a user with the access to approve a request may view the Commit stage.

These four components of Data Relationship Governance, User Roles, Access Levels, Workflow Tasks, and Workflow Stages, are what make DRG so useful in DRM.

Posted in MDM | No Comments »

Data governance

Posted on July 22nd, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Data governance is not a technology or a system but a set of processes and the organizational structure that governs the usage of all data assets of an enterprise.

Data governance represents the convergence of data quality, data management, data policies,business process management, and risk management surrounding the handling of information as an asset within the enterprise. Through data governance, organizations can exercise positive control over the processes and methods used by their data stewards and data custodians to handle
data.

A data governance framework has the following characteristics around the data:

  • Includes definitions of term, metrics, items, customers and related elements (Structure)
  • Distinguishes dimension values from the analytics of hierarchy definition (Structure)
  • Makes/collects/aligns rules (Process)
  • Assigns accountabilities to resolve issues (Process)
  • Organizes data stewards and governance bodies (People)
  • Monitors/enforces compliance while providing ongoing support to and change management for broad stakeholders (Architecture)

A Data Governance program does the following:

  • Provide a framework for definition of enterprise business entities that must be shared across various business units.
  • Define the process and workflow for identification, reporting, escalation, and resolution of data related issues.
  • Providing a forum for all communication related to data across the enterprise

Posted in Misc | No Comments »

ALL IN WITH DATA RELATIONSHIP MANAGEMENT (DRM) TOOL?

Posted on July 21st, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Oracle Data Relationship Management (DRM) is an enterprise change management solution for building and retaining consistency within master data assets despite endless changes necessary to support underlying transactional and analytical systems.

The Oracle Data Relationship Management (DRM) Suite is an integrated solution that helps enterprises master, govern and analyze enterprise dimensions, hierarchies and related attributes to enable effective business transformations by rationalizing key information assets across transactional and analytical silos, automating change management and data quality remediation processes, and providing a closed loop operational analysis, reporting and drill back experience that optimizes one's data governance program to lower risk, enable trustworthy analytics and improve one's confidence in data-driven decision making.

The Oracle Data Relationship Management Suite consists of three key components:

  1. Oracle Data Relationship Management is an enterprise master data change management solution for building and retaining consistency within master data assets despite endless changes necessary to support underlying transactional and analytical systems.
  2. Oracle Data Relationship Governance (DRG) is a companion application that leverages the DRM platform to deliver fully configurable, automated governance workflows, that enable data stewards to orchestrate the entry, validation, and approval of data changes by front-line business users using repeatable business processes, thereby enabling high-quality master data, policy compliance, collaborative co-authoring, and change awareness across the business community.
  3. Oracle Data Relationship Management Analytics aka DRM's Analytics module is a capstone dashboard and reporting application that draws upon the transactions, requests and actions performed within the suite to provide change and growth analytics for end users, operational intelligence for governance program managers and subject matter experts, as well as operational reports for administrators and access managers to optimize transformation initiatives.

Posted in MDM | No Comments »

Oracle E-Business Suite Release 12.2.5 Highlights

Posted on July 15th, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Oracle E-Business Suite R12.2.5 has been around for a while now. If you are still using an older version, you can think to upgrade. Having the the most up to date version of EBS guarantees that you are utilizing the latest and greatest features that Oracle has to offer.

There are some significant advances in Release 12.2 and specifically Release 12.2.5. Release 12.2.5 has many functional enhancements.

MODERN USER EXPERIENCE AND MOBILITY

Oracle E-Business Suite 12.2.5 embraces the modern look and feel of other Oracle products so that users navigating between Oracle E-Business Suite and Oracle Cloud applications can have a consistent user experience.

Key business benefits include:

  • Latest Oracle Look and Feel: Business users can leverage touch-friendly, icon-based or tab navigation as well as other new interactions and widgets
  • Tablet Optimized HTML User Interfaces: Receiving, Discrete MES Supervisor
  • Information Discovery: New Areas: Fixed Assets, Customers, Quoting, iStore, OIC, and CMRO; Mobile Templates, DFF Support, Global Search, Quick Links. Rename from Endeca Extensions

FUNCTIONAL ADVANCEMENTS ACROSS THE SUITE

Oracle E-Business Suite 12.2.5 delivers customer-driven functional advances across the integrated suite to help organizations further optimize their business processes. Key advances include:

  • Financials: Oracle General Ledger integrates with the Approvals Management framework (AME) to increase automation of journal approvals and improve governance, control and compliance. Oracle Receivables provides new methods for automated receipt application.
  • Procurement: Oracle Procurement Command Center, a new product, allows increased visibility and access to purchasing activities for more value creation. Oracle iProcurement Information Discovery helps improve buying decisions with ratings and reviews for catalog items and services. iProcurement uploads catalogs via the Oracle Supplier Network (OSN) to automate catalog management.
  • Projects: Oracle Advanced Project Planning and Control, a new product, allows increased visibility to project status for more proactive management. Oracle Projects can improve project control with a contractual schedule of values
  • Order Management and Logistics: Oracle Order Management extends support for flexible ordering of products, services, subscriptions, and warranties. Oracle Contract Renewal Command Center, a new product, helps improve visibility to service and lease renewals for higher loyalty. Flexible serial tagging in inventory and warehouse management organizations reduces overhead by capturing serial numbers only at point of use. Zone picking in Oracle Warehouse Management provides reduced idle time and improves picking efficiency.
  • Manufacturing: Outsourced Mfg, Component Availability Mgt
  • Asset Management: Map Visualization, Linear Asset Enhancements
  • Service: Oracle Service enables shared service center operation using multi-org access control (MOAC), with service execution users accessing just the service requests in their operating unit. Configurable HTML UIs in Oracle Field Service and Oracle TeleService helps increase the productivity of field service dispatchers and call center agents
  • Human Capital Management: A flexible, HTML payroll dashboard allows quick validation of payroll readiness and provides improved monitoring of payroll runs. Organizations can configure talent matrices of different dimensions to organize their talent

OPERATIONAL EFFICIENCY

  • Online Patching: Support for Simplified Dev Environments, Patching Progress Monitoring Tool
  • Technology Stack: Middle Tier Technology Checker
  • Automated System Management: Streamlined Patch Wizard Reports, Patch Wizard Export

TECHNICAL INSIGHTS

  • E-Business Suite R12.2.5, Patch 19676458 with 9 Zip files with 4.3GB in total size
  • Preliminary Pre-Requirements for R12.2.5 Upgrade
    • Oracle E-Business Suite 12.2.5 Release Update Pack requires Fusion Middleware Technology Stack (FMW) 11.1.1.7 (11gR1 PS6) or higher.
    • Apply the Latest AD and TXK Delta Release Update Packs
    • Minimum RDBMS Version is 11.2.0.4 or Higher

Posted in EBS Suite, Oracle Application | No Comments »

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