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Oracle Modern Best Practice for Insurance—Finance

Reduce Days Sales Outstanding with Streamlined Billing
Reduce Days Sales Outstanding with Streamlined Billing

Insured Invoice to Receipt

Timely, accurate insured billing process ensures healthy cash flow and improved policy-holder satisfaction. Radically streamline your invoice to receipt process – reducing your days sales outstanding by leveraging mobile, social and analytics. Use real-time insights and social to streamline invoice creation and rapidly resolve billing issues. Apply payments automatically or receive suggestions from a matching algorithm. Securely mobilize the insured billing, payment recording and receipt remittance using cloud applications. Leverage this modern best practice to get paid faster.


Create and Manage Transactions
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Create and Manage Transactions

Automatically generate insured policy invoices based on predetermined business rules. Review status via role-based dashboards.


Send Invoices
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Send Invoices

Send insured policy invoices or consolidated policy packets via preferred format and delivery method (mail, email, or ecommerce message).



Address Billing Issues
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Address Billing Issues

Manage insured disputes and billing issues with role-based dashboard. Collaborate on audits via secure social platform. Apply corrections (credit or debit memos) and refunds after required audit and approval.


Process Payments
Analytics. Social. icon Analytics. Social.

Process Payments

Automatically match receipts to invoices (without remittance advice) using configurable rules or a scoring engine. Handle exceptions with help from the recommendation algorithm.




Manage Adjustments
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Manage Adjustments

Close receipts and invoices with remaining balances, based on company policies and predetermined approval limits.


Post Receivables Activities
Mobile. Analytics. icon Mobile. Analytics.

Post Receivables Activities

Ensure current account balances by automatically posting all approved receivables activities to the general ledger.




Schedule Receivables Close
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Schedule Receivables Close

Stay on a predetermined close schedule. Use integrated inquiry, reporting, and analysis tools to review and reconcile account balances. Post period-close entries and close receivables period.


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