RPA enforce integration requirements for organizations
Introduction: Robotic Process Automation and Artificial Intelligence
Industry reports by McKinsey, Gartner, Everest Group, etc., suggest that a significant percentage of back-office operation processes can be automated through Artificial Intelligence (AI) and Robotic Process Automation (RPA).
Oracle has a wide range of enterprise applications – On-Prem and On-Cloud – E-Business Suite, Oracle fusion applications, Oracle NetSuite, Oracle CX Cloud, and Oracle HCM Cloud.These applications' transaction volume globally may outnumber any other enterprise suite of applications deployed globally.
The biggest challenge with enterprises is identifying the right partner to kick-start the automation journey since the failure of the automation program in the initial stage or not executing at the right pace can impact workforce planning and committed ROI. Why right partner? Since automating Oracle, back-end processes require Oracle technology, business processes, and automation technology expertise.
With its 18+ years of presence in Oracle Apps and Oracle Cloud Apps and 2+ years of existence in Automation, Jade Global is uniquely positioned to identify quick-wins back-end business processes and solve the challenges to achieve automation quickly
UiPath Robot + Studio is available in Oracle Cloud Marketplace for Oracle Cloud infra-Apps. Such capacity enables enterprises to deploy UiPath robots with a click instead of spending time on tedious, time-consuming activities like VM configuration. This allows rapid scaling of the digital workforce to adjust workload shifts increase productivity & accuracy. For On-Prem Oracle Apps, instead of writing REST APIs over the database, Application Express can be leveraged to create REST APIs on the Oracle database.
This allows rapid scaling of the digital workforce to adjust workload shifts increase productivity & accuracy. For On-Prem Oracle Apps, instead of writing REST APIs over the database, Application Express can be leveraged to create REST APIs on the Oracle database.
Jade Global Leverages automation technology that has a readily available adapter to create integration with Oracle on-prem or on-cloud applications even without having an application adapter or API.
For automation of Oracle back-end business processes, a few highly sought methods are as mentioned below
- Oracle AP Invoice Automation that includes 2-way and 3-way matching
- Oracle Cash Receipt Automation and reconciliation in accounts receivable function
- Inventory management
- Oracle Purchase Order Processing
- Shipment notification
- Expense management
- GL Code assignment
- Monthly, quarterly a yearly Closure
- Financial Reporting: Cash flow statement, fixed asset accounting, variance report, etc.
1. Oracle AP Invoice Automation that includes 2-way and 3-way matching
Oracle AP Invoice Automationthat includes 2-way and 3-way matching: AP Invoice Automation process is recurring, and laborious manual tasks, Jade Global RPA based AP Invoice Automation [AR1] solution can streamline and automate Invoice creation processes, we have predefined business rules for Invoice exception Validations, Custom PO matching, and approver identifications.
The process starts right after invoices are received from Vendors in the email box. Bots can scan the emails and identify invoices and supporting documents, and then bots determine if these invoices should go through the Jade Global template engine or AI Invoice model.
The Bot will perform validation and custom PO matching for different invoices such as freight, Prepayment, Non-PO, and PO invoices based on the Vendors configuration and type of invoices. We have other business rules which can be customized based on business needs in case of business/technical exceptions.
The Bot can bring humans into a loop for validation. Once the user certifies the invoices, invoices can be posted in Oracle, and Bot will identify the Distribution account and submit invoices for approval.
2. Oracle Cash Receipt Automation and reconciliation in accounts receivable function
Customers send payments to banks and send advice in different formats to Account receivable teams. The AR team needs to match each payment advice with bank payments and create a payment receipt in Oracle; with robotic process automation machine learning and AI's help, the entire process can be automated.
There are the following Major components in this process
- Bank Statement data extraction: Bots can download and extract credited amount by a customer and capture that in ERP
- Cash Receipt extraction: After payment in bank accounts, customers share Cash receipt files in different formats to the AR Team, which need to be matched with the AR Cash register for reconciliation and creation of Cash receipt in ERP. Bots can extract required fields with the help of the Jade Global template engine and AI model, and then it can match invoice amounts with Bank statements and AR cash registers and create Cash receipts in ERP
- Exception Validation: Multiple types of fallouts happen in the business process, such as follows
- Invalid Invoice and CM references: sometimes, customer mention their internal invoice reference, which cannot be matched with the AR cash register; during this situation, the bot raise exception to the AR team, and the AR team can provide input to the Bot for resolution
- Bank Charges adjustments: We can define the bank charges threshold for every customer. If the Bank statement and cash receipt amount has different more than a threshold, then Bot raise fallout and Bring human in the loop for validation
- Fallout Reports: To execute this process effectively, Bot should generate reliable reports that businesses can easily consume, following information can be made available
- Fallout daily/Weekly/Monthly exception reports
- Daily processed cash receipts
- Monthly processes cash receipts summary as per ERP calendar
3. Inventory Management:
The organization controls its assets, stocks, etc., from manufacturing until POS (Point of sale).This process can be automated end to end, but for this blog, let's consider these processes
- Manage Monthly Inventory
- Ordering Processes
- Tracking Order
- Update different departments about the status
Bots can collect price data for any commodity from ERP for the last 5 to 10 years and push data to the custom model in the AI-RPA and machine learning center for training. In turn, the AI center can determine the seasonal requirements and price variations under subjection. We can identify when the prices are all-time high and when they are low. And accordingly, we can locate an optimum period to restock the inventory,
Bots can monitor the AI model prediction every month and raise review requests with the Inventory team. After review and approval from the inventory, the team bot can submit PR convert it to PO and send it for approval. Once approved, Bot can post PO to the vendor portal.
Cutting time on repetitive tasks has taken the priority of businesses. As the world is evolving and getting faster with time it is mandatory for businesses to start automating their existing repetitive tasks.
Automation of back-office processes will bring in enormous savings and higher profitability while making managing these processes simpler and easier with Oracle. The universe of processes that can be automated by RPA AI Integration or robotic process automation machine learning is endless. And the benefit that will be added to the overall work time will be immense.