oracle e-business suite banking

ORACLE E-BUSINESS SUITE BANKING INTERFACES PAGE 1 OF 3

Care I.T. Services

ORACLE E-BUSINESS SUITE BANKING INTERFACES This summary describes a set of innovative products and services to seamlessly integrate Oracle E-Business Suite with the systems of your bank. Using these can achieve the goal of an efficient e-business link with your bank, substantially reducing transaction costs.

Overview During an Oracle E-Business Suite installation, interfaces with banking systems are often neglected. Banking systems are proprietary to each bank and it can be difficult to persuade them to provide data in another format. However, there are significant benefits in having automated interfaces for payments, receipts and bank statements, especially in an environment with high transaction volumes. Recognising this, Care I.T. Services has developed a set of products and services to implement interfaces between Oracle E-Business Suite and banking systems. These enable you to:

• Load and auto-reconcile bank statements in Oracle Cash Management from a SWIFT standard format, available from virtually all banks

• Automatically create customer receipts in Oracle Receivables from the same bank statement file

• Produce EFT payment files from Oracle Payables to automatically pay your suppliers

• Produce files of Direct Debit instructions from Oracle Receivables to collect cash from your customers

These automated interfaces can remove the need for significant amounts of manual data entry. The products and services described below utilise pre-built modules, saving substantial development effort when implementing the interfaces. For further information, please contact: Peter Care Tel: +44 (0)7961 194669 E-mail: [email protected] Web: www.careitservices.com


Care I.T. Services

Interfaces

Bank Statement Load This interface loads electronic bank statements into Oracle Cash Management. The SWIFT MT940 file format is an international standard used by the banks to report between themselves and is therefore available from virtually all banks. Transaction references can also be imported to enable Cash Management to auto-reconcile – the derivation of these will vary for each client. Thus the majority of this is interface is pre-built, but a client-specific extension will be needed to derive the transaction references. Customer EFT Receipts Load When customers pay via EFT, the receipt information is typically not available until it appears on the bank statement. The interface to load these receipts uses the same SWIFT MT940 file as the Bank Statement Interface, meaning the file only needs to be loaded once to create both statements and receipts. The interface makes use of the ‘auto-lockbox’ functionality within Oracle Receivables. The key to the process is identifying the customer making the payment and the invoice(s) being paid. This information should appear somewhere within the reference of the transaction on the electronic statement. The exact derivation will be different for each bank/client, so this interface is also a combination of pre-built code and a client-specific extension.

Modem/ Internet

Supplier EFT Payments

Customer Direct Debit Instructions

Bank Statement

Customer EFT Receipts

Statement (SWIFT MT940 format)

Oracle Payables

Banking System (proprietary to bank) Bank Back Office

Oracle Cash Management

Oracle Receivables

Oracle Payables


Care I.T. Services

Customer Direct Debit Instructions Extract The Oracle Receivables Remittance Batch functionality allows a custom Transmission Format concurrent program to be used. The Remittance Batch creates receipts for customers that pay via Direct Debit, i.e. where a Direct Debit agreement exists with the customer. The Transmission Format concurrent program creates a file in the format required by the banking system, to send the Direct Debit instructions to the bank to collect the amount due. The format is different for each bank, but a pre-built template is used to reduce the development time of a new format. Supplier EFT Payment Extract The Oracle Payables Payment Batch functionality allows a custom Payment Format concurrent program to be used. This concurrent program is used when the Payment Batch is formatted to create a file in the format required by the banking system. The format is different for each bank, but a pre-built template is used to reduce the development time of a new format.

Services Care I.T. Services can offer a range of services in the area of Oracle E-Business Suite Banking Interfaces, depending on the needs of the individual client. These include all functional and technical work relating to any combination of the interfaces described above. For example:

• Provision and installation of standard pre-built parts of the interfaces described above

• Development of client-specific extensions to the pre-built interfaces, to deliver those parts of the functionality that are specific to a client and/or a particular bank

• Management of the entire development and implementation of banking interfaces, including liaison with the banks and internal Treasury department.

• Set up of a file transfer mechanism between banking systems and Oracle E-Business Suite to provide an end-to-end automated solution.

• Consultancy and advice on the selection of banks and banking systems, from the point of view of ease of integration with Oracle Applications.

• On-going support of the interfaces

Pricing The pricing structure is flexible according to which services are required and the preferences of the client. We can offer any of the following:

• A fixed price for the implementation of one or more interfaces • A daily rate for development and implementation or consultancy • A usage rate, based on a set amount per transaction interfaced

oracle e-business suite banking

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