Relieving administrative burdens and costs frees retailers to focus on consumer-centric initiatives. Leveraging mobile, social, analytics, big data, and cloud, Oracle Modern Best Practice helps streamline invoice-to-pay cycle times and improve accuracy. Monitor and interact with your entire organization—from store operations to in-store managers—to receive invoices and pay suppliers. Optimize discount opportunities by taking advantage of competitive payment terms factoring in eligible vendor rebates and allowance from plan. Use secure, cloud-based mobile networks to approve exceptions, analyze issues, manage discounts and rebates, and pay suppliers faster.
Automate invoice processing with rule-driven electronic processing with the ability to scan invoices as well. Use spreadsheets to speed up manual entry.
Manage rule-driven approvals across any device or desktop. Resolve disputes and holds via a role-based dashboard and secure social interaction.
Actively monitor and process supplier and statutory liabilities via secure interaction. Process electronic payments, automated pay runs, or off-cycle payments.
Review and analyze the daily financial activity and monthly progress.
Review payables register, trial balance, and reconciliation reports on a predetermined close schedule. Close payables period.