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Oracle Fusion Advanced Collections allows you to collect more money faster with less effort by applying best practice collection methods at the right time. Oracle Fusion Advanced Collections is part of Oracle Fusion Financials’ credit to cash solution which helps you improve cash flow, increase efficiencies, optimize customer relationships and instill corporate and fiscal discipline.
Fusion Advanced Collections fosters consistent and efficient collection management practices for every collections agent. The system will automate the process of identify delinquent accounts. The assignment of the customer is also automated and creates prioritized work lists in the Collections Dashboard – making it easy for collection agents to spend more time collecting and resolving account payment issues and less time organizing their work. The comprehensive Customer Work Area brings all the information collection agents need to manage delinquent customers.
The Collections Dashboard automatically assigns collections work with summary information to help you prioritize and update related activities for each delinquent customer you need to manage. As work progresses, you can update the status so you are always working with the most up-to-date information, ensuring nothing slips through the cracks.
Activities that require attention, such as follow-up calls on dunning letters or collections exceptions for rejected disputes, are displayed on the Collections Dashboard. The advanced search capabilities will allow you to quickly create your own work lists for special projects. Having summary information in one place makes it easy to manage and organize each collections action.
Better Visibility of Customer Information
The Customer Work Area provides summary and detail customer account information. This will give you complete visibility to transactions, correspondence, payments, disputes and adjustments; notes written during previous collections activities; even aging data and customer contacts –all in a single location.
Roll-up and drill-down data views within Fusion Advanced Collections lets you focus on a single delinquency, concentrate on a specific customer account or bill-to location, or see everything about the entire customer – in a single view. The ability to easily update contact records will allow you to ensure that information is always accurate.
Manage Disputes and Adjustments More Efficiently
Customers often pay late due to disputes relating to billing errors, shipping problems, service issues, or sales terms. Other customers ask for an adjustment to a bill before paying the balance. The management of these disputes and adjustments is time-consuming and delays the receipt of monies owed.
Fusion Advanced Collections makes it easy to manage disputes at any level of granularity. You can dispute specific invoice lines, line subtotals, invoice totals, percentages, tax or shipping lines instantly. Based on the section and dispute reason selected, you can drill-down to invoice line details to capture more information on the disputed amount. Integration with Fusion Receivables ensures that all stakeholders across the credit to cash process are using a single source of information.
Information relating to customers’ adjustment requests can also be managed easily. Before a new adjustment request is submitted for approval, collection agents can see a complete history of any previously requested, rejected and approved adjustments. Now adjustments can be submitted for approval with confidence.
When a dispute or adjustment is rejected, the transaction updates the notifications list within the Collections Dashboard, prompting collection agents to quickly follow-up with their customers.
"Oracle Fusion Advanced Collections" 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.