Webinar on Oracle Revenue Management Cloud Services Every Oracle ERP Professional need to know about Revenue Management Cloud Services Agenda What every ERP Consultant to know about RMCS Why RMCS/Concept Benefit of RMCS RMCS Configuration User Case Business Flow Follow KnowOracle- KnowOracle Facebook Group:- https://www.facebook.com/groups/KnowOracle/ Oracle ERP Coach Facebook Page:- https://www.facebook.com/CloudERPCoach/ KnowOracle Linkedin Group:- https://www.linkedin.com/groups/8616115/

1. RMCS-Revenue Management Cloud
Service
Presented By –Srinibas Mohanty
YouTube Channel – Mytechnojournal
YouTube Channel - KnowOracle
https://www.youtube.com/watch?v=JD6Gi6gT8lA&t=5
0s
Website-mytechnojournal.com
Mobile Number-9160012666
Contact for any real time training requirement

2. RMCS-Revenue Management Cloud Service

3. FINANCIAL STANDARD OF REVENUE
RECONGNITION
 The core principle of ASC 606 and IRFS 15 is that an entity recognizes
revenue to depict the transfer of promised goods or services to
customers in an amount that reflects the consideration to which the
entity expects to be entitled in exchange for those goods or services.
 ASC 606: Revenue from Contracts with Customers. In the US, this rule
was issued by the Financial Accounting Standards Board
 Perhaps the biggest difference between the old regulation and the
new is that you now review revenue at inception of the sales order.
You identify contracts and performance obligations without any
dependencies on actual billing of the customer

4. WHY RMCS ?
 Deferred Revenue Accounting replaced with
performance obligation Accounting.
 Issue with deferred Revenue Accounting is that-
deferred revenue was classified as a liability but it did
not meet the definition of a liability
 You don't owe it to anybody
 You are just sitting on it until it is allowed to be
recognized

5. Revenue Management Features

6. CHANGES IN APPRCOH

7. RMCS EXAMPLE

8. Contract Structure

10. What is a Performance Obligation

11. Performance Obligation
 When a contract is identified in Revenue Management, each line item in the
contract is a performance obligation. When the performance obligation is
satisfied, revenue is recognized.
 In this example, one contract is created with three lines. Line 1 is for the
smart phone and line 2 the voice plan and line 3 the data plan.
 Revenue is recognized for the smart phone on the day the customer
physically receives the phone. The revenue for the voice and data plans are
recognized for $50.01 and $33.34 for the first month. Subsequent months
amounts are calculated based on the number of days in each month.

12. USER CASE

13. USER CASE-IDENTIFY CONTRACTS
 For this course we have some sales order data in a spreadsheet containing the data in the table
plus more. The new standard requires that journal entries be created from the sales order data
to recognize revenue appropriately. This course walks you through the setups required to
achieve these journal entry lines:
 Identify Contracts Processed

14. USER CASE-SATISFACTION EVENT
 Satisfaction Events Processed for 1 Month:


15. USER CASE-Performance Obligation Billed
Billing details loaded to RMCS
 Billed for 1 Month

16. USER CASE-RECEIVABLES PROCESSING
 Receivables Processing:

17. Over All Accounting in One Page

18. CONFIGURATION
 System Option
 Source Document Type
 Contract Identification Rule
 Contract Identification Rule
 Performance Obligation Identification Rule
 Pricing Setup (Part Of Order Management Pricing Strategy)

19. RMCS-CONFIGURATION

20. CONFIGURATION-Satisfaction Plan Type

21. CONFIGURATION-Satisfaction Plan Type

22. Revenue Schedule

23. SOURCE DOCUMENT TYPE

24. SYSTEM OPTION

25. SYSTEM OPTION

26. CONTRACT IDENTIFICATION RULE

27. CONTRACT IDENTIFICATION RULE

28. Contract Identification Rule

29. Performance Obligation Identification Rules

30. Identify Performance Obligtion

31. Pricing Setup-Part Of OM Pricing
Strategy

32. PROGRAM NEED TO RUN
 RMCS Revenue Basis Extract
Extracts Revenue Basis data from Fusion DOO, Enterprise Contracts and
PPM Billing into VRM(RMCS) via ICS
 RMCS Billing Extract
Extracts Invoices from Fusion Billing for feeding into VRM(RMCS)
RMCS Progress Revenue Basis Event Extract
 Extracts Progress Revenue Basis data from Projects into VRM(RMCS)
via OIC
 Process Revenue Recognition

33. REQUIRED JOB ROLES
 REVENUE MANAGER
 REVENUE ANALYST
 Receivable Manager
 Order Entry specialist
 Project Accountant

34. Fusion Home Page

35. CONTRACT DASHBOARD

36. SEARCH CONTACT

37. MANAGE CUSTOMER CONTACT

38. Customer Contact

39. Customer Contact

40. Implementation decision point