Oracle Revenue Management And Billing (ORMB) Is a Comprehensive Module Within The Oracle ERP Cloud Suite Designed To Streamline And Optimize The Revenue Lifecycle For Businesses. Here's a Detailed Breakdown Of Its Functionalities
- Tax Management:
- Configure and automate tax calculations based on product or service type, customer location, and relevant tax regulations.
- Support various tax types like sales tax, VAT, and excise duties.
- Generate tax reports for compliance purposes.
- Subscription Management:
- Manage recurring subscriptions with automated billing for ongoing services or product access.
- Offer flexible subscription options with different tiers, features, and pricing models.
- Track and manage subscription renewals and cancellations.
- Integration Capabilities:
- Integrates seamlessly with other Oracle ERP modules like General Ledger, Accounts Receivable, and CRM for a unified financial management system.
- Can also integrate with third-party applications for data exchange and enhanced functionalities.
- Core functionalities of ORMB:
- Pricing and Deal Management:
- Define and manage various pricing models like subscriptions, one-time fees, usage-based pricing, and tiered pricing structures.
- Create and manage customer contracts and agreements with specific pricing terms and conditions.
- Facilitate quote generation and negotiation processes.
- Billing and Revenue Recognition:
- Automate the generation of invoices based on customer agreements, product usage, and service delivery.
- Manage different billing schedules (e.g., monthly, quarterly) and support various invoice formats.
- Ensure accurate revenue recognition according to accounting standards (e.g., ASC 606).
