Posted on June 25th, 2009 by Sanjit Anand | Print This Post
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OIC is fully integrated with following Oracle E Business Suite modules:
Transactions are primarily collected from Oracle Receivables and Oracle Order Management. Oracle Incentive Compensation transactions can originate from a sales order, a customer billing, a customer payment, or other business functions.
- Oracle Order Management is used to collect booked orders and adjustments to booked orders
- Oracle Receivables is used to collect invoices, credit/debit memos, Payment postings and take back postings etc
- Oracle Payables is used to pay people who are not full-time, regular employees.Oracle Payable recognizes resources for payment only if they are activated as suppliers.
- Oracle Payroll is used by application to pay the employees
- Oracle Human Resource / Resource Manager is where you must first create employees in order for them to be paid compensation in Oracle Incentive Compensation. After creating employees in Human Resources, you then import these records into Resource Manager to create resources
- Oracle Territory Manager provides integration with the Territory Assignment Engine for Sales Credit Allocation
- Oracle Quoting uses Oracle Incentive Compensation to project commissions for resources and for Sales Credit Allocation. Oracle Incentive Compensation receives data through an API and then sends back projected commissions to Oracle Quoting
- Oracle Workflow is a workflow management system that is used by Oracle Incentive Compensation to integrate business processes. It can be used to notify individuals that action is required, a process is complete, or that a concurrent process has run into a problem. Workflow is already configured for use in Oracle Incentive Compensation and does not require any setups.
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Posted on June 22nd, 2009 by Sanjit Anand | Print This Post
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What is Oracle Incentive Compensation (OIC)?
Oracle Incentive Compensation is a global compensation management application that allows organizations to align the business objectives with sales force activities. Using Oracle Incentive Compensation organizations can automate the complex task of calculating variable compensation and ensure timely and accurate payments.
Based on the rules of compensation plan that can be configured Oracle Incentive Compensation determines:
- What events are eligible for incentive payments?
- Who should receive the payments?
- How the payments are calculated and paid?
Key Features of Oracle Incentive Compensation
Oracle Incentive Compensation includes the following features:
Beacuse of better Design, this helps to give
- 360-Degree Plan View
- Role-based Plan Assignment
- Multi-Dimensional Rate Tables, User-friendly Expression Builder
- Interdependent Plan Elements and Plan Element Checklist
- Flexible Sales Credit Allocation Rules, Date-effective Territories, and Compensation Group Hierarchy
- Flexible Transaction Definition, Configurable Data Mapping
From Administration, this helps
- 360-Degree View of Resources
- Transaction Research Assistant, Mass Transaction and Credit Adjustment
- Automatic Payment Worksheets including Draws, Cap Adjustments and Recovery
- Payment Approval Hierarchy
- Incremental Calculation and Retro-processing
For Analysis, this helps in
- Commission Statement, Performance Reports
- Extensible XML Publisher Reporting Capability
- Sophisticated Ad-Hoc Analysis
- Total Compensation View
- Projected Compensation
- Complete Audit Trail and Date-Effectiveness
From Technology Aspect, these are:
- Meta-Data Driven User Interface for Personalization and Extensibility built on Oracle Application Framework (OAF)
- Have advanced Searches and Configurable Views
- Have Export to Excel capability
- Have open Architecture for Integration with External Systems
- Out-of-the-box Integration with Oracle HR, Order Management, Receivables,Payroll, Payables, Territory Manager, Resource Manager, Quotes
- Configurable Data Mappings, Pre and Post Collections Actions and Triggers
- High Performance Multi-Threaded Rules Engine
- Increase Productivity
- Improved Operational Effectiveness
- Improved Time to Market
- Increased agility to respond to strategic and market shifts
- Improved corporate alignment
- Improved ability to monitor and measure incentive compensation effectiveness
- Reduced Administration Costs
Next, we discuss integration and information Flow.:)
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