Oracle ERP Cloud is a great fit for many businesses.Â Find out if it's the right choice for you!Â Are you looking for a Oracle ERP Cloud demo, technical support, product or pricing information or to simply to compare Oracle ERP Cloud with competitive options? Quickly get answers and the information you need.
Oracle Fusion Global Benefits is a global, rules-based benefits application that enables organizations to manage and deliver benefits programs to meet their mission, objectives, and strategic alignment to the organization.
Oracle Fusion Global Benefits is a completely configurable and flexible global product that enables organizations to successfully continue to evolve and adapt to the unique needs of their workforce and is an integral part of any total compensation package. Fusion Global Benefits can deliver traditional ‘one-size fits all’ plans all the way to highly complex plans that selectively target different segments of the workforce with different benefit packages. Delivered employee self-service capabilities present the user with an out of the box intuitive process that guides them through selection of eligible benefits with helpful contextual information, links to relevant information and embedded analytics. Oracle Fusion Global Benefits customers can utilize a single standards-based extract to seamlessly integrate through our industry leading benefits integration with any third party benefits provider. In addition, customers can leverage the delivered integration tools to integrate with other carriers.
Oracle Fusion Global Benefits addresses the diverse and complex requirements that result from evolving benefits practices and governmental regulations. Whether it is an individual plan or a complex flexible benefits plan, Oracle Fusion Global Benefits’ robust functionality meets your organization’s needs.
Recognizing that an organization’s business objectives, industry type, location, employee demographics, and many other factors shape a benefits plan, Oracle Fusion Global Benefits is flexible and extensible to meet your specific benefits program requirements.
Eligibility policies and criteria as well as calculation rates can be configured without modifying the application code. These rules and criteria can be shared across plans and are maintained from upgrade to upgrade. In addition, user-defined attributes may be selected and added to eligibility and/or rate requirements.
Oracle Fusion Global Benefits, as part of the Oracle Fusion Human Capital Management system, unifies HR, Benefits and Payroll to provide complete information, streamline processing and deliver the value of total compensation best practices to your employees.
Oracle Fusion Global Benefits has a completely flexible design process, where setup objects can be reused across different legislations. It allows you to create benefits programs that integrate different plans to meet your organization’s overall benefits needs, with minimal rework. You can group plans that share similar enrollment and eligibility rules and procedure. You can also determine eligibility and costs of eligible benefits to individually determine costs for each employee. Oracle Fusion Global Benefits is natively integrated to Oracle Fusion Global HR so relevant events in Global HR are automatically detected and processed. This eliminates manual work and automates life event processing to be compliant with organizational policy.
When implementing your benefits policy you can use FastFormula, an Oracle-provided web-based rules authoring facility. FastFormula is used to define rules for eligibility and benefits choices as well as to determine rates and premiums. Oracle Fusion Global Benefits delivers many configuration points, enabling you to expand the product beyond the delivered practices. Any data item within the system, including those defined by you, can be used within a FastFormula and reused across plans. Customer extensions through FastFormula are preserved through any future upgrades.
An eligibility profile is a re-useable set of eligibility criteria that may apply to any number of programs/plans. Criteria can be based on data items such as compensation level, percent of full-time employment, hours worked in a period, age, and length of service. Other eligibility criteria includes person type, benefits group, work location, assignment set, and many more.
Organizations can achieve dramatic savings by employing dependent eligibility profiles, which can also be used to restrict coverage to only eligible dependents. The dependent eligibility profiles work the same as the participant profiles with re-usable criteria delivered.
A life event is any change to a person that makes an impact on his or her eligibility or rate calculations for benefits. These can include employment events such as new hires, promotions, terminations, and transfers; personal life events, such as marital status and address changes; and time-based events, such as age and length-of-service changes.
Oracle Fusion Global Benefits controls key benefits processes triggered by a life event, such as the elections that can be made, coverage start dates and end dates, appropriate defaults, and required communications to be sent. Life event definitions may vary by customer or country, and may be dependent upon multiple conditions. You configure the necessary conditions that define a life event, and the system automatically analyzes and determines the impact of the event on the person’s benefits—all without any manual intervention.
Oracle Fusion Global Benefits allows administrators to schedule annual or other periodic enrollments for the appropriate population based on a pre-determined enrollment date. If need be, administrative enrollments can also be scheduled when new benefit plan offerings or costs change off-cycle.
Oracle Fusion Global Benefits supports all types of enrollment processing: on demand, automatic, life event based and scheduled/open enrollment. Rules can be defined to extend current enrollment, to terminate current enrollment, and to apply default enrollment under specified circumstances. For example, you can specify default enrollment rules for eligible participants who fail to make elections, and also define automatic or interim benefit packages for eligible new-hires.
The Benefits Extract tool allows the administrator to extract employee benefits records from the database and produces an HR-XML standards based file. This can be transmitted to a third party, or via a 3rd party for further transformation.
Quick Program Create and Quick Plan Create is a one page guided configuration tool that reduces implementation time by enabling users to quickly define a new benefit program or plan in one step that meets the functional requirements of their enterprise. This is particularly useful when designing a new implementation using prototypes to get feedback and sign-off.
Guided setup takes administrators over multiple pages to accomplish configuration in a structured manner to ensure repeatable quality and reduce the chance of setup errors. This helps aid in the uniformity of plan setup, and ensures quality through the setup processes. The user can choose to either follow the guides, or set up the process in an order that makes sense for their own business process.
Benefits Service Center is a tool used by the Benefits Specialist in the back office to support employees. The Benefits Specialist has access to an enhanced Service Area – where they can perform all the tasks necessary to enroll people, override enrollments, manage action items, and counsel employees through benefits choices. This makes it easier for your employees to get personal service, and faster for your benefits support team to satisfy requests for information or assistance.
Fusion Applications are built according to the concept of Role Based Access Control (RBAC). The use of RBAC to manage user privileges (computer permissions) within a single system or application is widely accepted as best practice. Security is managed at all levels – function, transaction, field, and data-level. RBAC assigns permissions to specific operations with meaning in the organization, rather than to low level data objects. RBAC exceeds the needs of auditable, segregation of duties (SoD) requirements.
Within an organization, roles are created for various job functions. The permissions to perform certain operations are assigned to specific roles. Users are dynamically assigned roles. Since users are not assigned permissions directly, but only acquire them through their role (or roles), management of individual user rights becomes a matter of simply assigning appropriate roles to the user’s account; this simplifies common operations, such as adding a user, or changing a user’s department.
Fusion Applications are built so that a business user can adapt the application to suit their personal or organizational needs. The key to this ‘tailor-ability’ lies in the usage of metadata objects and services in the heart of the application architecture. Changes and extensions to the application are stored as new layers over the delivered objects, allowing for flexibility in an ‘upgrade-safe’ manner.
"Oracle Fusion Benefits" is part of the Oracle ERP Cloud line of products, developed by Oracle.
Oracle ERP Cloud is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.