Posted on November 19th, 2012 by Sanjit Anand || Email This Post
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Oracle Advanced Collections is an enterprise application for collection professionals that simplifies and optimizes the task of performing the various collection activities. This module provides visibility into the collections cycle, helping companies plan and manage effective collection activities thereby reducing the DSO.
It is integrated in the E-Business Suite and covers key collections activities from managing delinquencies to customer interaction to collections.
Oracle Collections is integrated with AR, trade management, Lease Management and Oracle Loans
Advanced Collections is used to contact delinquent customers to collect overdue invoices. The collection process can be handled at various levels
- Customer
- Account
- Bill To
- Delinquency
Oracle Advanced Collections can be configured for
- Collection Strategies/Dunning Plans
- Processing Payments and for capturing Promise to Pay details
- Recording Disputes
- Scheduling customer Call-backs
- Sending Dunning letters to customers
Mandatory Setups for Advanced Collections
- Setting Up Users and Reporting Hierarchy
- Setting Up a Group
- Verify Group Setup
- Setting Up Manager Roles
- Creating a Resource, and Assigning Roles and Resource Groups
- Setting Up Employees as FND Users and Assigning Responsibilities
- Setting Up Collectors
- Setting Up Employees as CRM Resources
- Responsibility:- CRM Resource Manager : Navigation:- Maintain Resources -> Import Resources
- Setting Up Preferred Currency
- Setting Up and Enabling Currency Conversion
- Setting Up Currency Codes
- Setting Up the Accounting Calendar
- Setting Up Calendar Types
- Setting Up Period Type Mapping
- Setting Profile Options for Multiple Currency
- Setting Up Reporting Currencies
- Setting Up Quarters as a Time Period in the General Ledger
- Entering GL Daily Conversion Rates
- Running Concurrent Programs to Set Up Pseudo Period Rates
- Setting Up Lookup Codes
- Responsibility:- Collections Administrator : Navigation:- Lookup Types
Add Lookup codes for IEX_Delinquency_Status, IEX_Dispute_Reasons, IEX_History_Type, IEX_UWQ_Labels
- Responsibility:- Collections Administrator : Navigation:- Lookup Types
- Setting Up AR Aging Buckets
- Setting Up Collections Operational Data level
- Responsibility:- Collections Administrator : Navigation:- Setup Checklist -> Operational Setup -> General Collections Information
- Select values for Aging Bucket, Operational Data Level, Access Level and functionality access
- Select values for Default tab, Default Search Type, Default Payment Method etc
- Setting Up Collectors Access Levels
- Setting Up Notes, Tasks, and Calendar
- Setting up Scoring Components
- Setting Up Scoring Engine
- Setting Up Strategies/Dunning Plans
- Create Dunning Plans – Select Name, Dunning Level, Aging Bucket, Effective Dates etc.
- Responsibility:- Collections Administrator : Navigation:- Setup Checklist -> Collections Method Setup -> Create Dunning Plans
- Create Dunning Plans – Select Aging Bucket Line details
- Responsibility:- Collections Administrator : Navigation:- Setup Checklist -> Collections Method Setup -> Create Dunning Plans
- Create Dunning Plans – Select Name, Dunning Level, Aging Bucket, Effective Dates etc.
- Enabling Multi-Organization Access
Responsibility:- Collections Administrator : Navigation:- Setup Checklist
Profiles that need to be set
- IEX: Strategy Disabled :IF Strategies are being used select ‘No’ else this should be ‘Yes’
- IEU: Queue % :Select ‘Yes’ if the node has to be displayed in UWQ
- IEU: Queue Order % :Enter the number to select the display sequence in the UWQ
- IEX: Strategy Default Template (only if strategies are being used) :Select the Default Strategy to be used
- MO: Security Profile :Grouping of Operating Units that can be accessed.
- MO: Default Operation Unit :Identify the default Operating unit
Key R12 Enhacement
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Multi-Org Access Control
-
Enhanced Customer Credit Card and Bank Account Management
-
New Implementation Checklist and questionnaire
-
Collections Functionality of AR migrated to Oracle Advanced Collections
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Functionalities of Collections Forms Administrator and Collections HTML Administrator combined to a single responsibility Collections Administrator
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Configuration process has been simplified.
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Setup is performed using a questionnaire and Setup Checklist
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Scoring Engines, Strategies and Dunning Plans configuration performed using setup checklist