Oracle Modern Best Practice for Insurance—Procurement

Effective, Disciplined Requisition Process
Effective, Disciplined Requisition Process

Requisition to Receipt

Transform your requisition process to be more disciplined, effective—and faster. Drive employee efficiency with rule-based, self-service tools. Securely create, share, and approve requisitions and receive goods and services wherever you are via mobile and social. Create ad hoc or planned requisitions automatically or manually on any device for office supplies, third-party assessor services, actuarial services, and adjustor services. Reduce maverick spending by ensuring that only approved employees can create requisitions—and only from approved suppliers.


Raise Requisitions
Mobile. Social. Internet of Things. icon Mobile. Social. Internet of Things.

Raise Requisitions

Enable approved individuals to create requisitions for purchases (for example: furniture, phone systems, supplies, and third-party assessor, actuarial, and services). Or allow them to easily locate the intended goods and services from approved catalogs via a consumer-like UI.


Approve Requisitions
Mobile. Social. icon Mobile. Social.

Approve Requisitions

Automatically route approval based on predefined capital limits, approval hierarchies, and purchasing categories.


Create Purchase Order
Mobile. Social. icon Mobile. Social.

Create Purchase Order

Automate purchase order creation for approved supplier based on previously negotiated pricing and contract terms, freeing talent to focus on strategic initiatives.


Approve Purchase Orders (Optional)
Mobile. Social. icon Mobile. Social.

Approve Purchase Orders (Optional)

Automatically route PO approval, according to predefined business rules.


Dispatch Purchase Orders
Mobile. Social. icon Mobile. Social.

Dispatch Purchase Orders

Automatically deliver approved purchase orders and electronic payments via secure electronic channels or a supplier portal.


Receive Goods and Services
Mobile. Social. Internet of Things. icon Mobile. Social. Internet of Things.

Receive Goods and Services

Record goods received, or approve invoices for services rendered, to trigger an automated matching in payables.


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