The document describes the order to cash (OTC) process, including taking customer orders, fulfilling orders, shipping, generating invoices, and collecting payments. It discusses the key sub-processes, purpose, process flow, and how improving OTC is a strategic priority for companies. The OTC process touches many departments and applications within a company.
Learn more about the accounts payable process & its related procedures. Find out the importance & challenges involved in accounts payable processing.
https://nanonets.com/blog/accounts-payable-process/
The published document gives overall view of OTC, is the end-to-end business process for receiving and processing customer orders. It also gives accounting and technical insight for Oracle application R12 OTC cycle.
Learn more about the accounts payable process & its related procedures. Find out the importance & challenges involved in accounts payable processing.
https://nanonets.com/blog/accounts-payable-process/
The published document gives overall view of OTC, is the end-to-end business process for receiving and processing customer orders. It also gives accounting and technical insight for Oracle application R12 OTC cycle.
Overcoming the Top 7 Intercompany Accounting Challenges in SAP ERP FinancialsSAPinsider Events
View this session from Financials 2015 in Las Vegas. Coming to Europe! www.Financials2015.com
Overcoming the Top 7 Intercompany Accounting Challenges in SAP ERP Financials by David Cohen, EY
This session will outline and provide resolutions for the seven most common intercompany accounting challenges that companies face within the areas of sale of products, charge of services, AP/AR reconciliation, profit elimination, assets transactions, and month-end closings. By attending you will receive:
- Practical examples on the most effective ways to use standard functionality of SAP ERP, SAP BusinessObjects BI, and SAP HANA to alleviate these issues
- Examples of overcoming difficulties in implementing asset transactions across borders, such as purchase and leasing
- Alternatives to performing inter-company profit elimination
- Lessons for configuring and running your month-end close
Order To Cash - Inefficiencies and redundancies throughout the OTC cycle are an expensive affair for businesses and prevent them from turning receivable into cash.
The time might just be ripe for change in thinking when it comes to putting together an Enterprise Order To Cash paradigm in place ….. a more cohesive & comprehensive approach enabling Businesses to horn there competitive edge, unlock efficiencies, increase speed, significant cost reduction thereby have direct impact on the Top line and bottom line across the Enterprise.
The tutorial slides and embedded animation is developed by James, the tutor of the unit Acc 204.
The slides demonstrate how graphic system documentation techniques, such as DFD and Flowchart diagrams are drawn.
Lecture 21 expenditure cycle part i - accounting information systesm james ...Habib Ullah Qamar
the expenditure cycle, the physical phase, financial phase, the purchases system, the cash disbursement system, conceptual revenue cycle, manual revenue cycle and computer based accounting information systems
Conversion Cycle for all types of business, principle and goal of lean manufacturing, productions methods used in different organizations and the activities and documents of Traditional manufacturing environment.
Lecture 18 revenue cycle - accounting information systesm james a. hall boo...Habib Ullah Qamar
Chapter 4 Accounting information system, the revenue cycle, overview, three key processes, physical system, Sales order processing, sales return processing, cash receipts and controls over revenue cycle
Lecture 23 expenditure cycle part ii -fixed assets accounting information sy...Habib Ullah Qamar
Fixed Asset System, what is logic of Fixed Asset System, we started with Asset acquisition, details of asset maintenance and then how an asset disposal is handled. in the end we describe the controls.
NetSuite Procure to Pay streamlines your purchasing and payment processes for improved efficiency and cost reduction. Get out more information about this novel solution right away.
Overcoming the Top 7 Intercompany Accounting Challenges in SAP ERP FinancialsSAPinsider Events
View this session from Financials 2015 in Las Vegas. Coming to Europe! www.Financials2015.com
Overcoming the Top 7 Intercompany Accounting Challenges in SAP ERP Financials by David Cohen, EY
This session will outline and provide resolutions for the seven most common intercompany accounting challenges that companies face within the areas of sale of products, charge of services, AP/AR reconciliation, profit elimination, assets transactions, and month-end closings. By attending you will receive:
- Practical examples on the most effective ways to use standard functionality of SAP ERP, SAP BusinessObjects BI, and SAP HANA to alleviate these issues
- Examples of overcoming difficulties in implementing asset transactions across borders, such as purchase and leasing
- Alternatives to performing inter-company profit elimination
- Lessons for configuring and running your month-end close
Order To Cash - Inefficiencies and redundancies throughout the OTC cycle are an expensive affair for businesses and prevent them from turning receivable into cash.
The time might just be ripe for change in thinking when it comes to putting together an Enterprise Order To Cash paradigm in place ….. a more cohesive & comprehensive approach enabling Businesses to horn there competitive edge, unlock efficiencies, increase speed, significant cost reduction thereby have direct impact on the Top line and bottom line across the Enterprise.
The tutorial slides and embedded animation is developed by James, the tutor of the unit Acc 204.
The slides demonstrate how graphic system documentation techniques, such as DFD and Flowchart diagrams are drawn.
Lecture 21 expenditure cycle part i - accounting information systesm james ...Habib Ullah Qamar
the expenditure cycle, the physical phase, financial phase, the purchases system, the cash disbursement system, conceptual revenue cycle, manual revenue cycle and computer based accounting information systems
Conversion Cycle for all types of business, principle and goal of lean manufacturing, productions methods used in different organizations and the activities and documents of Traditional manufacturing environment.
Lecture 18 revenue cycle - accounting information systesm james a. hall boo...Habib Ullah Qamar
Chapter 4 Accounting information system, the revenue cycle, overview, three key processes, physical system, Sales order processing, sales return processing, cash receipts and controls over revenue cycle
Lecture 23 expenditure cycle part ii -fixed assets accounting information sy...Habib Ullah Qamar
Fixed Asset System, what is logic of Fixed Asset System, we started with Asset acquisition, details of asset maintenance and then how an asset disposal is handled. in the end we describe the controls.
NetSuite Procure to Pay streamlines your purchasing and payment processes for improved efficiency and cost reduction. Get out more information about this novel solution right away.
4
900 words required………………….
e-Procurement Business Case Development
Team B
ISCOM/361
e-Procurement Business Case Development
A commodity product includes a series of physical substances that have basic use that could be taken from natural sources. The company we chose to write about and that has a commodity product is the Bean Company. It is a company that sells 100% organic, healthy Arabica bean coffee. The customers can purchase whole beans, already ground up beans, or in K-cup form. However, typically the company is popular for the coffee beans more so than the other variety it offers. For instance, this paper involves all activities in e-Procurement that allows a commodity product to be released in an easy way because the company uses tools such as ERP and MRP that includes transactions, forecasting, and among other challenges with these systems to create a better flow in production.
Define the elements of e-Procurement employed with the commodity supplier.
ERP/MRP system
ERP and MRP codes represent systems that a business utilizes to ensure they are coordinating their planning activities according with the production process. ERP (Enterprise Resource Planning) allows the company to cover areas that include accounting and purchase ledgers, human resources including payroll and time sheets, supply chain such as stock control and purchasing, or warehouse data to manage every document. Similarly, MRP (Manufacturing Resource Planning) focusses on sales, job costing, purchasing and production orders. Both are necessary in manufacturing because they facilitate upper management to locate their resources and to control inventory levels of raw material as well as final products or services. Transactions
These agreements are made between two parties, the supplier and the buyer in which they both exchange products or services that will turn into payments. These transactions can get complicated if they are not clear or if the parties have not settle their terms and conditions. Every company is responsible to be accounted for their financial records and tax reports. For instance, some of these transactions include, credits, deposits, and among other forms of payment rules to make sure each party is corresponding to their agreements. Moreover, each company has their internal control of what financial transaction are being made and one department is responsible to authorize purchases, receipts, and payments.
Forecasting
Forecasting is a vital yet demanding job in supply chain that consists of a full-time position, making sure and understanding what is needed ahead of time will help keep the company producing products in a more productive manner. As a supply chain manager, it is your duty to save the corporation costs as needed, and by forecast supplies that are needed you can order in larger quantities with better pricing. Having a software that can analyze history of products will better be able direct you to not over or under ...
Client Onboarding: Effectively Managing the Client LifecycleDoxim Inc.
The first 90-120 days of your client’s lifecycle is commonly referred to as client on-boarding period. This period represents one of the best opportunities for a wealth management firm to engage with the client and maximize business opportunities. It is also represents an account administration challenge in terms of account opening, asset transfers, needs assessments and data capture. Download this presentation to discover more about:
- The 3 Stages of Client Onboarding
- Client Onboarding Best Practices
- Doxim's onboarding solution - Doxim OpenAdvantage
Visit www.doxim.com for more information.
Lecture 8 transaction processing system- james a. hall book chapter 2Habib Ullah Qamar
This is second chapter 2 of Accounting Information System. We will start from Transaction and its types Economic and non economic transactions .Revenue cycle,Expenditure cycle,Conversion cycle
Optimizing Accounts Payable - Whitepaper by BancTec - BPO Services ProviderJone Smith
BancTec is a leading bpo services provider which provides fully hosted invoice processing and AP Automation services including mailroom processing, scan and capture and receipt of electronic invoices.
Optimizing Accounts Payable Automation Solution - Whitepaper by BancTec - BPO...Jone Smith
BancTec is a leading bpo services provider which provides fully hosted invoice processing and AP Automation solutions including mailroom processing, scan and capture and receipt of electronic invoices.
TYASuite Procure-to-Pay (P2P) software is a cutting-edge solution designed to optimize and streamline the entire procurement process. From requisition to invoice reconciliation, it seamlessly integrates procurement, vendor management, purchase orders, and invoice management. With features like automated workflows, real-time tracking, and compliance management, TYASuite E-Procurement Software enhances efficiency, reduces manual errors, and ensures transparency in your procurement operations. Experience a simplified and efficient procurement lifecycle with TYASuite innovative Procurement Software.
Eresource has a ERP software designed for Valve manufacturers keeping in mind operational excellence. our erp software for value manufacturing industry has exclusive modules that will help in business process.For details:http://www.eresourceerp.com/erp_links/erp_software_for_valve_manufacturing
eresource ERP (http://www.eresourceerp.com/) is designed for manufacturing excellence. With visibility throughout the operation and embedded support for a wide variety of manufacturing processes - including make-to-stock, make-to-order, configure-to-order, engineer-to-order , just-in-time (JIT) manufacturing and materials control, and lean operations.
ERP for Manufacturing Industry - eresource XcelEresource Erp
eresource ERP (http://www.eresourceerp.com) software is an easy to install system that streamlines manufacturing processes through automated planning, scheduling and fulfillment. The system also yields new data intelligence that quickens decision making and reduces administration costs.
ERP for Manufacturing Industry - eresource XCELeresource erp
eresource ERP http://www.eresourceerp.com/ is a comprehensive enterprise resource Planning system that offers best-practice support for multi-mode manufacturers in a broad range of Industries.
Eresource provides manufacturing solutions to midsize Manufacturing Companies with unformed, integrated, on-demand ERP solution designed to reduce costs, improve customer service, increase margins and generate new revenue streams. our erp solution for manufacturing helps you also cut down production bottlenecks. For details:http://www.eresourceerp.com/category/erpmanufacturing
Applying Robotic Process Automation in Banking: Innovations in Finance and Riskaccenture
Robotics is quickly gaining traction in banks to automate their everyday finance and risk processes. Accenture's presentation covers the impact of Robotic Process Automation (RPA) on a bank's finance and risk function. Read Philippe Guyonnet’s blog to learn more about RPA in banking and finance and risk innovation:http://bit.ly/2dprACR
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Empowering the Data Analytics Ecosystem: A Laser Focus on Value
The data analytics ecosystem thrives when every component functions at its peak, unlocking the true potential of data. Here's a laser focus on key areas for an empowered ecosystem:
1. Democratize Access, Not Data:
Granular Access Controls: Provide users with self-service tools tailored to their specific needs, preventing data overload and misuse.
Data Catalogs: Implement robust data catalogs for easy discovery and understanding of available data sources.
2. Foster Collaboration with Clear Roles:
Data Mesh Architecture: Break down data silos by creating a distributed data ownership model with clear ownership and responsibilities.
Collaborative Workspaces: Utilize interactive platforms where data scientists, analysts, and domain experts can work seamlessly together.
3. Leverage Advanced Analytics Strategically:
AI-powered Automation: Automate repetitive tasks like data cleaning and feature engineering, freeing up data talent for higher-level analysis.
Right-Tool Selection: Strategically choose the most effective advanced analytics techniques (e.g., AI, ML) based on specific business problems.
4. Prioritize Data Quality with Automation:
Automated Data Validation: Implement automated data quality checks to identify and rectify errors at the source, minimizing downstream issues.
Data Lineage Tracking: Track the flow of data throughout the ecosystem, ensuring transparency and facilitating root cause analysis for errors.
5. Cultivate a Data-Driven Mindset:
Metrics-Driven Performance Management: Align KPIs and performance metrics with data-driven insights to ensure actionable decision making.
Data Storytelling Workshops: Equip stakeholders with the skills to translate complex data findings into compelling narratives that drive action.
Benefits of a Precise Ecosystem:
Sharpened Focus: Precise access and clear roles ensure everyone works with the most relevant data, maximizing efficiency.
Actionable Insights: Strategic analytics and automated quality checks lead to more reliable and actionable data insights.
Continuous Improvement: Data-driven performance management fosters a culture of learning and continuous improvement.
Sustainable Growth: Empowered by data, organizations can make informed decisions to drive sustainable growth and innovation.
By focusing on these precise actions, organizations can create an empowered data analytics ecosystem that delivers real value by driving data-driven decisions and maximizing the return on their data investment.
06-04-2024 - NYC Tech Week - Discussion on Vector Databases, Unstructured Data and AI
Discussion on Vector Databases, Unstructured Data and AI
https://www.meetup.com/unstructured-data-meetup-new-york/
This meetup is for people working in unstructured data. Speakers will come present about related topics such as vector databases, LLMs, and managing data at scale. The intended audience of this group includes roles like machine learning engineers, data scientists, data engineers, software engineers, and PMs.This meetup was formerly Milvus Meetup, and is sponsored by Zilliz maintainers of Milvus.
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
1. Order To Cash (OTC)
Order to cash normally refers to the enterprise resource planning (ERP) process in which taking
customer sales (direct from the customer & retail) orders via different sales channels, such as email,
internet, sales person, fax or by some other means like EDI, and then fulfilling the order, shipping,
logistic and then generating an invoice and collecting payment for that invoice and then receipt.
If we consider the entire flow, this can be further categorized into the following seven sub-
processes:
• Customer presence
• Order entry (creation of order/booking of order )
• Order fulfillment (physical & digital fulfillment)
• Distribution
• Invoicing
• Customer payments/collection
• Receipt
Purpose
The SAP Best Practices scenario for Order to Cash supports the entire process chain for a typical
sales process with a customer. The business process encompasses all steps from creating an order,
and optionally, based on a quotation, creation of a delivery, to the billing procedure. During the
sales order generation a credit check for the customer is executed and subsequent handling of
blocked sales documents is demonstrated. An availability check is done followed by product
allocation. Product allocations represent an ordered allocation of production for certain periods, so
that a partial quantity can be delivered if not enough stock is available for further orders.
Additionally, Service Charges are entered manually in the sales order, depending on the quantity of
goods ordered. In delivery processing the delivery is created, the goods are picked, kitted, packed,
shipped and the goods issue is posted. In the billing process that follows, an invoice is created and
released to financial accounting. To complete the process, the customer payment is posted to clear
the accounts receivable.
2. This scenario also includes additional presales support activities in addition to sales order
processing, delivery, billing and payment. The process begins with a sales inquiry captured in a
sales activity document in sales support. The inquiry results in a sale and the process shows how the
initial sales activity can be linked to a sales document that is created in the subsequent order
processing. At the time of order creation, dynamic product proposals, material substitutions, free
goods and material exclusions are demonstrated. At delivery processing the delivery is created, then
picked, and goods issue is posted. In the billing process that follows, an invoice is created and
released to financial accounting. Incoming payments are documented in payment processing and
then posted in financials.
Process Flow
Sales Quotation
Standard Order
Shipping
Delivery
Picking
Posting Goods Issue
Warehouse Picking Execution
Packing
Posting Goods Issue
Billing
Payment of Customer
This process flow encapsulates a variety of smaller business processes from order entry to cash
receipt. It pulls resources from many different company departments.
Improving the order-to-cash process is a strategic priority for many companies. Typical
improvement objectives include fulfillment performance (order accuracy, shipment accuracy, and
on-time shipping), financial performance (reduction of receivables, collection management costs,
and Days of Sales Outstanding, or DSOs).
The multi-step order-to-cash process originates with a customer order and terminates once the
customer pays for the goods or services received and the company applies the cash.
3. Five areas are affected by the order-to-cash cycle:
1. Customer,
2. Order entry,
3. Order fulfillment,
4. Distribution, and
5. Finance and accounting.
Since most companies are functionally managed, the order-to-cash process usually touches multiple
departments, companies, and back-end enterprise applications. Therefore, it is important for each
department to complete its part of the overall process error-free and transfer correct information
across functional boundaries.
Automated Sales Order Processing for Order-to-Cash Performance with ERP Systems
Overview
Business performance depends on how well a company manages its internal processes. Companies
with effective business process management in place are able to analyze key performance indicators
to monitor efficiency of day-to-day activities and employees against operational targets.
Order-to-cash is a generic term used to encompass the business cycle that starts with reception of a
customer sales order and ends with collection of accounts receivable generated in the sale of the
final product. There are several sub-processes within the order-to-cash cycle, including: receiving
orders, entering sales orders, approving sales orders, fulfilling orders, billing for the orders and
collecting payment.
Many companies have implemented enterprise resource planning (ERP) applications to standardize
enterprise operations and support business process management strategies. ERP solutions empower
companies to automate many business processes formerly done by hand. But to achieve full return
on investment in ERP solutions, businesses need to automate the documents that drive business
processes.
Order-to-Cash Service Platforms
Businesses are investing significantly in software that integrates various applications and processes
onto a single service platform. This way every participant in the composite process has the same
view of every action and event.
4. Companies that implement the order-to-cash process internally often break the process down into
smaller pieces (order-to-ship, ship-to-delivery, delivery-to-invoice, and invoice-to-payment).
UPS, FedEx, and others are increasingly offering order-to-cash service platforms to small and
midsize businesses. The shippers handle all parts of the end-to-end process: order flow, fulfillment,
and payment.
Technical Capabilities of Order-to-Cash Service Platforms
Every robust order-to-cash service platform provides the comprehensive process management
capabilities needed to automate the underlying order-to-cash business processes. The combination
of robust business process management, componentization of processes and systems, and native
support of Web Services standards is at the core of the service platform. Some of the capabilities
include:
• Unified process automation and human workflow,
• Automated, intelligent management of data, process exceptions, and errors,
• State management to track, store, and intelligently act on complete status of each step (or
state) of a multi-step transaction,
• Transaction rollbacks and compensating transactions,
• Time-based exception management, and
• Adaptable business agents that monitor real-time metrics and adjust themselves
automatically according to predefined rules.
Hypothetical test scenario: Order-to-close scenario
Total time to execute manually including recording test results: 25 hours.
Frequency: Executed five times during the year to support major system releases.
Stability: Process is subject to few minor modifications per year (two minor modifications). Fairly
static.
Preparation: On average, 15 hours are spent manually rehearsing the test scenario before it is fully
executed.
Number of assigned testers: Three testers (having expertise in project systems [PS] module, finance
[FI], and sales and distribution [SD] module).
Given these metrics, it is possible to estimate with some margin of error that between preparation
and execution of the manual test case (including manually recording test results) approximately 200
man-hours per year are spent executing the order-to-cash scenario.
5. This is not including time needed to manually modify the documentation for the test case when the
order-to-cash scenario is subject to configuration changes, or the time needed to coordinate the
multiple resources that are necessary for executing the test scenario. With an automated framework
in place, one can review the following statistics and metrics needed to automate the order-to-cash
scenario and whether doing so is cost effective:
Total hours needed to automate test case (including functional support): 80 hours.
Time needed to execute process with automated test tool (including automatic test results [logs]
generated by automated test tools): Two hours.
Number of resources needed to execute automated test case: One at most, since automated test case
can be scheduled to run unattended.
Preparation time needed to execute automated test case: Five.
Under the hypothetical scenario for automating from scratch and executing the automated test case
for order-to-cash, it is estimated that for the first year it would take 115 man-hours to execute the
automated test case. For subsequent years it would take 35 man hours to execute the automated test
since the automated test case has already been constructed, whereas executing the process manually
is a fixed number of man-hours: 200 man-hours per year, subject to the availability of the testing
resources and level of expertise. This analysis points objectively and based on certain assumption to
a case in favor of automation. With a similar analysis, projects can employ an objective approach
for automating scenarios.
6. OTC Flow
1. SALES ORDER
Company Code: 4700
Sales Document type: ZOR
Sales Area: 4700/10/10
Screen Shot 1:
Click Enter
Step 2:
Header Level:
Enter Sold to party: 1000991
Enter Ship to party: 1000991
Enter PO Number: Test
Enter Payment term: 0001
Item Level:
7. Enter Materials in Item Level: 1000309
Enter order Qty: 1
Enter Plant: 4702
Click Enter:
Refer Screen Shot:
Go to Item Billing
Enter the INCO Terms in the Item Levels: CFR (COST AND FREIGHT)
Click Save
2. DELIVERY
8. Delivery Document type: ZLF
T – Code VL01N
Enter Shipping Point: 4702
Enter Sales document number:
Note: Enter Delivery date: (Delivery date should be taken from Schedule lines in Sales
order) Refer Screen Shot below:
Click Enter
9. Enter Picking Qty & Storage Location:
Click on Post Goods Issue:
3. BILLING
Billing Document type: F2
T – Code – VF01
Enter Delivery Document number:
Refer Screen Shot Below:
10. Click Enter
Refer Screen Shot below:
Click Save
Billing Document should be created (Refer Screen Shot below)
Display the Billing document: T – Code – VF03
Enter the Billing Document number from the above Screen shot:
Click on Accounting Document tab:
Refer the Screen Shot: