Industry: Financial Technology (Fintech)

About the Client

Fintech company offers an industry platform for property and casualty (P&C) insurance carriers in the U.S. and worldwide. Company sells its software as a service on a subscription revenue basis.

The Business Benefits:

  • Revenue Pre-Processor (REVPP) extension has helped in streamlining integration between Order mgmt., receivable & revenue mgmt. more precise & accurate.
  • Improved Revenue Forecasting
  • Accurate revenue recognition and future revenue forecasting
  • Streamlined complete end to end business processes across the business practices.

Business Requirements

  • Process automation for contract identification, data cleansing and touchless upload of contract data to Oracle Revenue Management Cloud
  • Oracle RMCS process enhancement to automate re-class of deferred revenue from contract liability account to non- contract account.
  • Reporting enhancements to capture multiyear forecast, AR to Oracle Revenue Management Cloud Reconciliation, Revenue by Customer (606) Report etc.
  • Stabilizing and Enhancing Oracle Revenue Mgmt. Cloud Service application.
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  • Developed PaaS Extension - Revenue Pre-Processor
  • REVPP is a platform built in PAAS where the Sales order data from the order management and Oracle Revenue Management and billing data from the accounts receivables are processed.
  • Data is validated and scheduled jobs to pull the processed data.
  • It creates the FBDI files and those FBDI files are interfaced into Oracle Revenue Management Cloud and then from Oracle RMCS it goes into GL as standard process.
  • Enhanced Revenue Pre-Processor to automate deferred revenue re-class.