Flow Notes : A Collection

Oracle Advanced Collections provides promise to pay functionality for transactions to process a customer's acceptance of the debt and agreement to make a payment by a certain date. Promises to pay can also be used to track and reconcile a payment coming through the Oracle Receivables lockbox process. Collectors can take one or many promises to pay on the same invoice from a customer at the same time. If a customer fails to make a promised payment, then Advanced Collections automatically creates a broken promise item on the agent's Collector's Work Queue so that a follow up action can be taken.

Tamara Cortez – Flow Notes – A Collection

Although the goal for collectors is to collect money, delinquent customers often refuse to pay invoices and bills because they do not believe they owe money for a variety of reasons. The Transactions tab provides the ability for a collector to find open invoices, review the individual lines of the invoices and dispute all or part of the invoice.

Information about these open invoices is accessible from the Accounts tab. Views to Open Line Listings are also accessible to users who have licensed Oracle Trade Management to view customer claims. Disputes have to be resolved, so workflows will support further investigation resulting in either a credit memo or additional collections activities.

Note that dispute functionality is not available to Oracle Lease and Finance Management implementations. While reviewing delinquencies with their customers, collectors can initiate adjustments at the installment or transaction level. This lets collectors resolve delinquency issues in the most expedient manner possible. Oracle Advanced Collections leverages the authority and approval limits that are defined in Oracle Receivables. If an adjustment exceeds a collector's authority or approval limits, then the adjustment is created as a pending adjustment that a manager must first approve in Oracle Receivables.

Occasionally a customer may make a payment by mistake or with the wrong credit card or bank information.

When this occurs, the collector needs the ability to reverse the payment made and then take the payment in the appropriate manner. Payment Reversals are the process for this type of interaction. If desired, Advanced Collections can send automatic confirmation of payments, promises, disputes, adjustments and reversals to the customer. Records of these letters are automatically recorded to the customer correspondence history. Oracle Advanced Collections provides many places where a collector can enter and view notes about a customer or related transactions during the collections process.

Notes can be reviewed prior to interacting with a customer or shared between users with the appropriate access rights. Notes can be entered or viewed on the Notes tab or anytime the Notes icon is available on the Oracle Advanced Collections toolbar. Use the Task tab to view information about an existing task or create a new task.

Collectors can create new task for themselves or other collectors. Tasks appear on a the Collector's Work Queue. Collectors can attach related documents to a collections issue, such as customer correspondences, POs, contracts, and other documents.

Flow Notes: A Collection by Tamara Jo Cortez

You can view these attachments at any time during the collections cycle by selecting the paperclip icon in the toolbar. Oracle Advanced Collections includes two hidden tabs that can be programmed by your implementation team or system administrator to meet any unique functionality requirements of your collections organization. If a delinquency becomes problematic and further action must be initiated to obtain payment or resolve the issue, a collections agent can initiate a decision to escalate a payment problem.

The Lifecycle tab tracks information about delinquencies, write-offs, repossessions, litigations, and bankruptcies. The collections manager or collections agents can further manage each situation using the Web interface pages. If you use Oracle Lease and Finance Management, the Case Management tab provides detailed information about the case and related lease contracts, assets, and other information. A collector can initiate payment processing from the Case Management tab for leasing-related invoices.

If you use Oracle Loans, the Loans tab provides detailed information about delinquent or default loans including loan status, loan details, last payment, and borrower information. A collector can initiate payment processing from Loans tab for loan-related invoices or initiate later stage delinquency actions.

• Introduction to Oracle Advanced Collections;
• Tuck Your Skirt in Your Panties and Run: Book Club & Reader Guide!
• Flow Notes: A Collection!
• Finding Sanctuary in Another Universe.
• See a Problem?.
• Your Answer.

If you have installed Oracle Contracts, the Contracts tab provides summary and detailed information for lease contracts and other types of contracts. Licensed users can also access Oracle Contracts from the Contracts tab.

The eBusiness Center is used by collections agents to manage address and phone information for the organizations and contacts they interact with. In addition, the eBusiness Center provides universal agent support for all Oracle call center applications and tabs relating to collections, telesales and teleservice agents. From the Collections window, an agent can also navigate to eBusiness Center by clicking the Organization or Contact field on the Collections header. Oracle Advanced Collections leverages functionality from a number of E-Business Suite products in order to provide a complete, end-to-end collections solution.

Oracle Receivables to store transactional data, adjust transactions, support posting payments, and resolve disputes required. Oracle XML Publisher for sending collateral, copies of invoices, dunning notices, and other correspondence, through e-mail, fax or print optional. Oracle Payments for real-time credit card and bank EFT authorization and validation to take payments over the phone optional and for Oracle Lease and Finance Management real-time payment processing required. Oracle Trade Management for access to invoices and payments relating to trade marketing promotions optional.

Oracle Bill Presentment Architecture for viewing invoices as they were presented online to the customer optional. Concurrent program extracts raw data on transactions from Oracle Receivables; scores these objects; identifies the objects as delinquent, pre-delinquent or current; adds customer data; and stores the records in Oracle Advanced Collections tables. User views information on delinquent customers and collections work assignments displayed in Collector's Work Queue and selects a work item to launch Advanced Collections.

User reviews customer collections profile; delinquency information; histories; strategies and work assignments; aging; and notes. User processes work assignments and records information on payments, promises to pay, or disputes. Upon authorization, payment information is sent to Oracle Receivables for processing and updating of customer's receivables records.

Correspondence event is recorded in customer history. Agents can view information about collections activities, customer payments, disputes, and promises on the History tab and by running reports. Alternatively to step 3, user selects a customer record and launches eBusiness Center to review customer information. Customer interactions, actions, action items, contact outcomes, results and reasons are tracked. These interactions can be tracked automatically or manually. User selects the Collections tab in eBusiness Center to review information about the customer's delinquent accounts and invoices.

User launches Advanced Collections from the eBusiness Center Collections tab to view details of customer's delinquencies and payments. Managers can define strategies to apply to different collections situations and categories of customers. Scoring engines contain criteria used to analyze customers and score them. Managers relate scoring engines to strategies. For example, a scoring engine can check for overdue invoices. Invoices 60 days overdue receive a score of The strategy says any invoice scored 40 is assigned to a collections agent to contact the customer by phone.

Managers define collections strategy templates. Strategies can contain required and optional work items. Managers create scoring engines and relate the score ranges to strategies. Strategies are executed based on scores. Work items are initiated. If the work item is automated such as send a letter , the system performs the work and creates a history record. If the first work item is manual, it is posted in Collector's Work Queue to the collector who owns the customer.

Note that cases and leasing contracts are scored if you are using Oracle Lease and Finance Management. Managers and agents can override the established collections work items by removing or adding work items to the strategy for the object. Dunning plans provide a simple method for managing collections issues that include automatically sending a dunning notice and tracking payments. Optional dunning callbacks can also be part of a dunning plan. Goodreads helps you keep track of books you want to read. Want to Read saving….

Want to Read Currently Reading Read. Refresh and try again.

Tips on Searching

Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. The little inspirational book that can change your life and open your Self to your Spirit! Paperback , pages. To see what your friends thought of this book, please sign up. To ask other readers questions about Flow Notes , please sign up. Lists with This Book. Flow Notes, A Collection is the little book that can connect you back to your spirit and bring you back to center in all the hustle and bustle of contemporary life.