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Migrating to Oracle Advanced Collections: An Overview for Oracle Receivables Users [ID 389443.1] Modified 28-APR-2009 Type WHITE PAPER Status PUBLISHED
In this Document Abstract Document History Migrating to Oracle Advanced Collections: An Overview for Oracle Receivables Users Part One - A Better Collections Management Paradigm Part Two - Migrating to Advanced Collections Appendix A - Advanced Collections Pages Appendix B - Resources Appendix C - Collections Features for Oracle Receivables and Oracle Advanced Collections
Applies to:
Checked for relevance on 28-APR-2009 Oracle Receivables - Version: Oracle Advanced Collections - Version: Information in this document applies to any platform.
Abstract
This white paper describes the different Oracle Advanced Collections features availabe for users upgrading from Oracle Receivables. It is available in PDF format as an attachment to this note. The accessible version follows. Documentation Accessibility: Our goal is to make Oracle products, services, and supporting documentation accessible, with good usability, to the disabled community. To that end, our documentation includes features that make information available to users of assistive technology. This documentation is available in HTML format, and contains markup to facilitate access by the disabled community. Accessibility standards will continue to evolve over time, and Oracle is actively engaged with other market-leading technology vendors to address technical obstacles so that our documentation can be accessible to all of our customers. For more information, visit the Oracle Accessibility Program Web site at http://www.oracle.com/accessibility/.
Document History
Authors : Tina Cook, Carol King Create Date : 30-Jan-2007 Last Update Date : Expiration Date :
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Oracle customers need to understand the benefit, impact, and migration steps necessary to migrate an Receivables-based collections operation to one using Advanced Collections. MANAGING COLLECTIONS IN TODAYS WORLD Collections and receivables management organizations are under pressure to collect more while reducing their cost to collect. Oracle Advanced Collections provides the tools needed to efficiently manage collections processes in todays complex economies, growing businesses, and increased globalization. Collections managers and collections organizations are challenged with a number of business and operational problems that Advanced Collections solves: Providing collections agents with accurate and complete data about transactions and delinquent customers. This has often been impeded because of data synchronization flows run between disparate corporate systems or batch processes done during off hours. It may also be caused by outdated and inaccurate information about the customer such as old addresses, contact information, phone or fax numbers. Identifying delinquent transactions accurately, consistently and timely. The longer an invoice is unpaid, the less likely payment will be made. Collectors often dont know which customers are delinquent until aging reports are run. Because they have no way of prioritizing their work, they frequently focus on individual invoices or more cooperative customers while ignoring customers with large balances. Identifying customers who have high dollar service contracts or who have large payments coming up and have habitually paid late. If these customers can be notified before the next payment is due, corporate cash flow is less likely to be negatively impacted. Knowing which accounts need attention and which dont. Inexperienced collectors often neglect the accounts that are most likely to pay, thus impacting collections goals. Unresolved issues such as broken promises to pay or disputes often slip through the cracks. Managing different customer segments differently. Regional regulations, customers in stressed or volatile industries, or new customers may need different treatment plans. Ensuring that best-collection practices are consistently applied within collections teams to provide uniform treatment of similar customers. Reducing the hours per day collectors spend performing manual, time-consuming tasks that take them away from interacting with customers to get payment. MOVING TO ADVANCED COLLECTIONS The Collections Workbench in Receivables was originally designed for AR clerks who occasionally performed collections activities. These clerks also performed the account management, cash application, transaction management and other accounting related activities in a receivables department. Over time, as more manual functionality was added to the Collections Workbench in the form of new windows, navigation became more complex, and usability decreased. Oracle Advanced Collections leverages both transactional and customer data. It applies customer relationship management concepts to receivables management processes, automates previous manual collections processes, streamlines user flows, and integrates seamlessly with other E-Business Suite applications. Since its initial release in 2001, industry analysts and early adopters have recognized Oracle Advanced Collections as the next-generation collections management enterprise-wide solution. Key Features If you migrate from the Receivables Collections Workbench to Advanced Collections you can: Leverage real-time transactional and customer data Execute proven collections best practices Use configurable scoring, strategies, dunning plans Treat different customers differently Proactively manage collections issues Automatically identify delinquent/pre-delinquent customers Push only actionable, prioritized work to collectors Use Call Center enabled tools for multi-channel customer contact Streamline collections process Navigate more easily through collections screens Automate correspondence notification Track payments, promises, incomplete work, interactions automatically streamlining interactions between various team members
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KEY CONCEPTS AND DEFINITIONS TO UNDERSTAND Advanced Collections supports a number of innovative processes and concepts that are different from traditional collections practices. Its important to understand these concepts and to know how Advanced Collections uses them. For additional information refer to the Oracle Advanced Collections Implementation Guide and Oracle Advanced Collections User Guide available on OracleMetaLink. Transaction In Receivables, an invoice, debit memo, credit memo, chargeback, or bill receivable. Receivables maintains transaction tables which Advanced Collections accesses. Invoices can include one or more payment schedules. Delinquency In Advanced Collections, a transaction that is overdue. The criteria used to determine which transactions are delinquent are configurable. The seeded delinquency configuration uses a payment schedule for which the dispute amount is less than the total amount overdue and the due date is prior to the current date to determine delinquency. Delinquencies are identified from invoices, chargebacks and debit memos. Advanced Collections identifies delinquencies by running a delinquency status determination concurrent program and maintains this information in delinquency tables. User Role/Responsibility These terms describe the functional person who normally uses part or all of the applications. Receivables Clerk - The person using the Collections Workbench in Receivables. This person performs receivables related activities (such as cash application, receipts, and transactions management) along with occasional collections activities with customers. Collections Agent - The person using Advanced Collections to work with and resolve customer non -payments. The collections agents primary job is to contact a customer regarding a collections issue in a collections organization. Collections Manager - The person who is generally a functional manager or supervisor in a collections organization. This person uses Advanced Collections HTML screens to review and manually assign work when agents are temporarily away (vacations or illness). They also use HTML manager screens to view data regarding later-stage delinquency situations that require their review for further action. Collections Administrator - The person uses the Advanced Collections implementation and setup module to set collections scoring, dunning and strategy parameters system profiles, schedule concurrent programs, and configure system lookups. Collectors Work Queue Collectors Work Queue provides a high-level list of all actionable work assigned to or owned by a collections agent. This work is automatically pushed to the agent as part of the automated collections management flow provided by Oracle Advanced Collections Operational Data Level Oracle Advanced Collections supports four data levels and displays most information at all four levels. The data levels controls numerous features in Advanced Collections including visibility to nodes on collectors work queue, strategies (or dunning), and default displays. Most collections organizations operate and do business with their customers at one of these data levels most of the time. Ability to drill down or roll up from data level to another is provided in Advanced Collections. These data levels are: Customer (TCA Party) - also called Organization. Displays cumulative data and balances to the user. Account (Receivables Customer) - Receivables creates accounts for parties when an order is generated. Accounts can have one or more Bill To addresses. Bill To Location Site - the address in an account to which a specific group of transactions are associated, generally for billing purposes but not always the same as the Ship to address. Transaction - In terms of operational data level, this is a specific delinquent transaction. Other operational data levels include one or more transactions. Or the collections organization may collect from individual transactions. Scoring Engines and Scoring Components Scoring engines consist of one or more scoring components and they can be configured to provide a score at the customer, account, and bill to level. Advanced Collections uses configurable scoring engines for two purposes: to determine whether a transaction is delinquent and to determine the business value - or collections score - of customers. Collections scores are similar to a customers credit score but they generally guide how aggressively the customer is treated during collection activities.
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Payment Oracle Advanced Collections supports the ability for collectors to take payment from customers through either credit card or bank Electronic Fund Transfers. Payments may also come from the lockbox process in Receivables or self-service payments from customers using Oracle iReceivables. Promise to Pay Oracle Advanced Collections supports the ability for a collector to take a customers promise to pay in the future for one or more transactions. Promise information is maintained by Advanced Collections and used to reconcile promises against actual payments. If the payment is not made, a broken promise is created and posted to the agents work queue. Segments A way to group customers based on any database criteria including geography, delinquency amount/range, payment schedule due dates, company size, sales revenue to collecting organization, industry or virtually anything else. These segments are then applied to Strategies (optional) or Scoring Engines (required) in order to apply the most appropriate strategy and scoring engine to a particular set of customers. Segments are used by scoring engines to facilitate the processing of the score calculation. Segmentation provides the means to create sub-sets of the entire customer database. This allows for different scoring engines and strategies to be used for different groups of customers. Collections Method Deploying organizations may choose from two collections methods supported by Advanced Collections: dunning plans and collections strategies: Dunning Plan - The traditional method used to notify a delinquent customer about an unpaid balance. Advanced Collections provides the ability to send dunning letters via fax, email or printed letter. Additionally, Collections can use the customers collections score and the oldest aged invoice to determine the content and delivery method of the dunning notice. If payment is not made within a specified period of time, Advanced Collections can automatically assign a dunning callback to a collector who will see that action on their Task node in the Collector Work Queue. Collections Strategy - Compared to Dunning Plans, this collections method supports more complex means to contact and manage customers about their receivables situation. Collections strategies consist of one or more work items, which are actions performed by either the system (send a reminder letter) or the collector (call this customer). Work items are timed to be executed serially. Strategies are based on collections scores so different strategies can be used for customers with good or bad value scores. Collections strategies can also be used to alert pre-delinquent customers about a pending payment. Unless a deploying organization has no need to do anything more complex than simple dunning, the best practice recommendation is to use collections strategies. This allows for flexibility as the organization changes in the future. IMPACT ON RECEIVABLES USERS: COMPARATIVE CHART Lets take a look at what Oracle Advanced Collections offers Oracle Receivables users. This section compares previous functionality in Receivables with what is now provided by Advanced Collections. NOTE: Click on links in this chart to see a screen shot of the described feature in an Appendix. Click on the section name in the Appendix to return back to this chart. Receivables 11i Navigator Menu: Customer Calls Customer Account Account Overview Aging Correspondence Account Details Transaction Overview Scheduler Advanced Collections R12 Navigator Menu: Collector's Work Queue Collections Statements Search Reports Navigation Details and Comments Log in as Collections Agent > Collections Navigator Menu. Search: controls numerous features in Collections including visibility to nodes on Collector's Work Queue, strategies (or dunning), and default displays Receivables Reports can be added to the Collections menu
Log in as Collections Agent > Collector's Work Queue Select Navigator Menu selected record from list will
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Aging Reports
Single Screen Navigation: Collections header with tabs below: Profile with Metrics History Account Transactions Aging Notes Tasks
Collections window contains a header and tabs. Additional optional tabs are displayed when Advanced Collections is licensed to deploying organization: Strategy Lifecycle (for later stage collections management) Custom Tab 1 Custom Tab 2 Case Management (for Lease Collections) Contracts (for Lease Collections) not currently accessible Loans (for Loans Collections) On the header of the Collections window, collections agents can select the data level that sets the View of the data displayed. Users can change the View to drill down or rollup customer data.
Scoring:
Set up during implementation and managed by the system. Used in Account collections score is dunning plans and strategies. displayed on the Account tab Additional segments can be configured when Advanced Collections is licensed to deploying Set up during implementation and organization. managed by the system. Default segment is All Customers. Segments:
Dunning Plans: Generated as a report Sample letters included Dunning History displayed in Correspondence Ability to add finance charges to dunning letters Ability to manually exclude or include customer in dunning activity
Dunning Plans: Set up during implementation Preconfigured dunning letters are available using Oracle XML Publisher Optional dunning callbacks can be assigned to agents Receivables Dunning History is displayed on Correspondence History table Ability to resend Collections dunning
Manager logs in as Collections Administrator Select Setup Checklist > Collections Method > Dunning Plans Add details including dunning correspondence templates and delivery method Collectors logs in as Collections Agent > History tab > Correspondence to see dunning history > Resend Dunning button to resend
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Ability to include or exclude Dunning callbacks are automatically customer, account or bill posted to Collector's Work Queue to in dunning activity Ability to resend Receivables dunning letters will be accomplished by using Receivabless modified Dunning process which will print only historical dunning notices.
Statements:
Statements accessible from Navigator menu For Statement history: Collectors Receivables will continue to logs in as Collections Agent > support Statements History tab > All history to see statements
Collector Field: New concurrent program automatically creates Collector resource in Resource Manager
Multi-Org Access: Ability to see across operating units Controlled by User Security Profile settings
Transaction Details: Ability to see summary and detail for specific transactions on various screens
Transaction Details: Ability to see summary and detail for specific transactions on various screens Transaction Details Ability to view details for specific transactions Ability to submit disputes
From Transaction tab > Transaction Details button Collector navigates to Receivables Transaction Workbench from the Navigator menu. Not all details are displayed on the Transaction Details page.
Payment Processing: Ability to take customer payments for one or more transactions
Payment Processing: Ability to take customer credit card and Bank EFT payment for one or more transactions Payment note Automatic payment authorization via Oracle Payments module Payment record automatically saved on History tab Confirmation letter
From Collections Header, payments can be taken from Transaction tab, Aging tab, Account tab by clicking on the Payment Processing button
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Log in as Collections Agent Promises to Pay and Promise Promises to Pay and Promise Reconciliation: Reconciliation: Two fields (amount and date) plus two forecasting fields used to manually track likelihood of collecting on the promise From Collections Header, promises to pay for one or more transactions Promise to Pay for single or can be taken from Transaction tab, multiple transactions Aging tab, Account tab by clicking on Promise note the Payment Processing button Automated Promise where Promise or Mass Promise tab Reconciliation process is accessible matches promises to payments Broken Promises automatically created and posted to Collector Work Queue for follow up Promise record automatically saved on History tab
From Collections header > Profile Credit Management Integration: tab to see Credit Risk and Credit Status or Account tab to see Profile tab displays Credit Tolerance Fields in Receivables display: Rating, Credit Limit, Credit Status Account Status, Credit Rating, Tolerance, Collectable, Risk Account tab displays Code, Review Cycle, Credit and Status, Tolerance, Risk Order Limits Code Credit Management Integration: From Collections header > Profile tab to see Credit Risk and Credit Status or Account tab to see Tolerance. From Collections header, with customer name and contact name displayed > Actions from toolbar > select Credit hold or Credit release. Status is displayed on Profile tab From Collections header, click on History > AR Calls
Credit Hold: Ability to place an Account on Credit Hold or remove them from Credit Hold Status is displayed in Customer Profile screen
Credit Hold: Collector can turn on /off credit hold Enabled through IEX: Enable Credit Hold profile option
Scheduler: New calls can be created created manually in Tasks tab or automatically with dunning plans Displays in the Collector's Work Queue
Presented Bills:
Presented Bills:
From Collections header > Transactions tab > right click and select View Invoice to launch BPA
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Notes/Comments: New notes can be created in Collections notes fields throughout New notes are automatically related to party, account, bill to, transaction and other object types specific to the activity
Notes are visible throughout Collections on various screens Notes tab displays all notes relating to the customer and customer activities Collections will display Receivables notes, comments, and special instructions throughout the application where logically applicable Log in as Collections Forms Administrator > Submit Request
Advanced Collections uses a number of concurrent programs to See Preconfigured Elements Section automate collections processes. for list See next section for flows. Functional Business Processes and Flows The following section contains three flows showing the agent, manager and system process flows available in Advanced Collections. These provide a road map on how collections work flows through the application. Collections Agent Flow
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Collections Agent Process The following table describes the process for collections agents. Process Prioritize Work Action Login Description Comment Provides secure access to Advanced Collections and based on configuration can restrict the data the collector can access. Provides collectors with a configured list of customers No more paper the collector should focus their collection activities on. reports Pre-identified customers at your fingertips, one click No more retyping
Use Collector's Work Queue Use UWQ UWQ provides information in logical groupings. This Nodes information can be sorted and exported to Excel spreadsheets if required. Select Work The collector will select a customer based on the prioritized work provided within the UWQ and drill
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directly into Advanced Collections with the customer information pre-populated. Once a customer is selected, the collector can review and take action. Actions include payment, promise, dispute, send correspondence, disposition of a transaction. The update customer data processes allow the collector to track and manage all collection activities for a customer. Actions submitted by a collector can launch automated processes that eliminate the need for manual intervention while adhering to a companys collection policies. The collector can add additional documentation on a customer by manually entering notes or automatically recording interactions activities. Upon closing the customer record, the system automatically refers back to the UWQ to get the collectors next work activity.
One form to review and take the appropriate action for a customer Automatically push approvals to the appropriate persons.
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Collections Manager Process The following table describes the process for collections managers. Process Action Assign Login Collector Work Use Ownership Tab Assign Collectors Manage Delinquencies Reassign collectors Review Delinquent Description Provides secure access Advanced Collections. Comment
Manager tool to review and move assigned work items, promise activity and customers to assist in load balancing. User friendly tool to locate and assign back up collector for short term assignments due to vacation or a leave of absence. Specialists view into customers in later-stage of the Triage view into collections lifecycle with status of bankrupt, litigation, customers repossession, lease write-off or report to credit
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bureau. Provides at a glance a way to better understand issues your customers are having.
Collections System Process The following table describes the Collections system processes.
Action
Comment
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Run Scoring, Advanced Collections provides preconfigured scoring Strategies, or engines, strategies and dunning components and the Dunning Plans supporting programs to insure customers receive the appropriate communications. The preconfigured data elements (scores, strategies and work items, and correspondence templates) can be utilized by the implementation team or they may configure new data elements based on the customers business requirements. Process The system utilizes the Receivable approval limits to adjustments insure policy is followed and processes the adjustments.
Automates the process of scoring and applying work items based on the customers score.
Process payments
Payment system is called using the standard API allowing for real-time collections.
No more transferring phone calls for simple adjustments that collectors are approved for. No more, check is the mail response. Take the payment while the customer is on the phone.
Collectors can process disputes, which launch the Receivables Credit memo Workflow insuring appropriate approval hierarchy is followed. Provides the tool to document and follow-up on promises made by customers. Collectors can be automatically notified of promises that are not met. Advanced Collections uses all the standard APIs provided by Receivables and other applications to automate processes. Advanced Collections utilizes concurrent programs and workflow to process work requests through the system in an automated manner. These programs would need to be scheduled by the implementation team to run based on business requirements. Timely and accurate information depends on the concurrent programs being processed at regular intervals.
APIs
Scheduled jobs insure accurate and timely data is available for collectors.
Collector and Manager Reports Advanced Collections users need summary and detail level reports to support and assess the effectiveness of their collections activities. Advanced Collections provides a number of reports for collections agents and collections managers. From the Navigator Menu, users can access the following reports from Advanced Collections: Campaign Outcome Summary Report Collector Outcome Detail Report Payment Collector Summary Report Payment Collector Detail Report Payment Campaign Summary Report Payment Campaign Detail Report Campaign Schedule or Collector Promise Reconciliation Report Summary Campaign Schedule or Collector Promise Reconciliation Report Detail
Additionally, users can access a number of Receivables reports that have been used by collections personnel. These reports can be added to the collections agent responsibility and be accessible from the Collections menu: Account Status Report Adjustment Register Aging Reports (6 reports) Applied Receipts Register
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Automatic Receipt Batch Management Report Automatic Receipt Awaiting Confirmation Bad Debt Provision Report Billing History Billing and Receipt History Collections Effectiveness Indicators Credit Hold Report Customer Credit Snapshot Disputed Invoice Report Invoice Print New Invoices Past Due Invoice Report Publish Actual Receipt Publish Receipt Forecast Receipt Analysis - Days Late Receipt Register Receipt Awaiting Bank Clearance Report Receipts Awaiting Remittance Report Remittance Batch Management Report Transaction Awaiting Consolidation
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Advanced Collections Questionnaire Page The Checklist guides the manager through a Questionnaire that asks a few key questions about the intended use of Advanced Collections. The managers responses to these questions automatically set system profiles and settings for Advanced Collections.
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Advanced Collections Task Page The Questionnaire also enables or disables a set of Task Pages for the manager to provide additional detailed information that set additional settings for Advanced Collections.
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The benefit of using the Collections Checklist is that it allows functional experts to do an out of the box set up of Advanced Collections independent of corporate IT staff. Since some system profiles used by Advanced Collections come from other E-business Suite modules, managers will need to use the standard Forms Profile screen to set these profiles. See Oracle Advanced Collections Implementation Guide for a list of non-Collections profiles. EASY SETUP STEPS FOR MIGRATING FROM RECEIVABLES For deploying organizations that have decided not to license Advanced Collections, here are the setup tasks you need to do: Task Description Complete Collections Questionnaire and Tasks For example, determine operational data level, set up Dunning Plan. Configure dunning letters (optional) You can use the preconfigured dunning letters or optionally create new ones Install Oracle XML Publisher ( if sending Refer to Oracle XML Publisher dunning letters) Administration and Developer's Guide. Enable lookup for Receivables Scheduled Allows you to display calls entered in Calls in Collections History tab (optional) Receivables
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Determine how users will access Advanced Collections functionality and reports Refer to Oracle Advanced Collections User Guide for detailed information.
Implementing Advanced Collections is facilitated by the use of a number of preconfigured elements that deploying organizations can use during their planning and testing phases. Additionally they can also be used (or easily amended) for use in production systems. If new elements are required to match specific corporate processes, they can be added during implementation. Detailed information on these preconfigured elements is provided in Oracle Advanced Collections Implementation Guide. Correspondence Templates and Queries. Advanced Collections uses XML technology to generate and deliver all customer correspondence. Included in the product are the following templates and queries that can be used at all operational data levels: Payment Confirmation Letter Dispute Confirmation Letter Promise Confirmation Letter Adjustment Confirmation Letter Payment Reversal Confirmation Letter Consolidated Invoice Confirmation Letter Invoice Letter Pre-delinquent Letter Soft Dunning Letter 1 Soft Dunning Letter 2 Moderate Dunning Letter 1 Moderate Dunning Letter 2 Hard Dunning Letter 1 Hard Dunning Letter 2 Hard Dunning Letter 3
Metrics Formulas The following formulas are used in the Profile tab of Advanced Collections: Weighted Average Days Paid (WAP) Weighted Average Days Late Weighted Average Terms Average Days Late Conventional Days Sales Outstanding (DSO) True DSO Collection Effectiveness Index (CEI) NSF History Amount NSF History Count Deductions Amount Deductions Count Sales Credit Limit High Credit YTD
Scoring Engines Advanced Collections includes preconfigured scoring engines. Delinquency Status Determination Customer Scoring Account Scoring Bill To Scoring Case Scoring (used with Lease Management)
Strategy Templates and Work Items Advanced Collections provides preconfigured strategy templates and preconfigured work item templates for deploying organizations using Collections Strategy as its collections method. Deploying organizations that
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have licensed Advanced Collections use strategies and their associated Work Items. Dunning Plans do not use templates. Strategy templates: Pre-delinquent Strategy Soft Collections Strategy Moderate Collections Strategy Hard Collections Strategy Catch-all Collections Strategy Litigation Strategy Repossession Strategy Write-off Strategy (for use with Leasing) Bankruptcy Strategy
Preconfigured work items include: Pre-delinquency Courtesy Letter Pre-delinquency Courtesy Call Soft Dunning Letter 1 Soft Dunning Letter 2 Soft Collections Call 1 Soft Collections Call 2 Moderate Dunning Letter 1 Moderate Dunning Letter 2 Moderate Collections Call 1 Moderate Collections Call 2 Hard Dunning Letter 1 Hard Collections Call 1 Hard Collections Call 2 Final Demand Letter Review Customer Customer Site Visit Review Pending Bankruptcy Review Pending Repossession Review Pending Litigation Review Pending Write off (for use with Leasing)
MIGRATION CONSIDERATIONS Since most of the historical data generated in Oracle Receivables is now accessible in Oracle Advanced Collections, there is no need for deploying customers to migrate data. Most flexfields are also accessible from Advanced Collections. However following analysis of known customer usage, not all fields are displayed. If these fields need to be displayed, deploying organizations will need to determine where and how.
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Return to Functional Comparison Chart - Navigator Menu, Single Screen Navigation Collections Main Window
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