Overview: Mandating ASC 606, IFRS 15 compliance with Oracle RMCS for Insurance companies.
Products & Service
Oracle Cloud ERP Release 13
- Order Management
- Reporting (FR Studio, OTBI)
- General Ledger
- Accounts Payables
- Accounts Receivables
- Fixed Assets
- Cash Management
- Revenue Management Cloud Service (RMCS)
The Business Benefits
- Revenue Pre-Processor (REVPP) extension has helped streamline the integration between Order Management, Receivable Revenue Management, while improving their precision and accuracy.
- Improved revenue forecasting.
- Accurate revenue recognition and future revenue forecasting.
- Streamlined complete end-to-end business processes across the business practices
- Process automation for contract identification, data cleansing and touchless upload of contract data to RMCS.
- RMCS process enhancement to automate the re-class of deferred revenue from contract liability to non-contract accounts.
- Reporting enhancements to capture multi-year forecast, AR to RMCS Reconciliation, Revenue by Customer (606) Report, etc.
- Stabilizing and Enhancing the Oracle RMCS application