Discover Features of Oracle Cloud PPM 23A That You May Not Know
Discover Features of Oracle Cloud PPM 23A That You May Not Know
Category: Oracle ERP/PPM Cloud
Tags: Product Updates
Have you heard? Release 23A for Oracle Cloud PPM has been announced the focus of this release is usability with a bunch of minor enhancements. Following are some features that can help to structure the system.
1. Automatic Release of Invoice on Approval.
Automatically release project contract invoices on approval using Workflow or the user interface. Skip the manual release invoice step and move project contract invoices through to Receivables faster.
Business benefit: The manual process of releasing a project contract invoice is avoided, making transferring a project contract invoice to Receivables more streamlined.
Customer Contract Business Functions properties
2. Increased limit (up to 10) process configurators assignable to Revenue and Invoice methods:
This increased limit now allows you to define complex Revenue Recognition and Invoicing methods to meet your requirements.
3. Budgetary Control on Internal sources requisitions, expensed to projects, is now possible:
If you are using budgetary controls, you can now:
i) Apply controls on internally sourced requisitions expensed to a project.
ii) Budget Account Derivation for Cost adjustments (transfers, etc.) in PPM.
4. Budget and Forecasting Changes:
A) Actuals reported at level planned on task hierarchy:
If you plan (budget and forecast) at a higher level of the WBS than the lowest task, actuals will now summarize up to your planning level tasks when you generate forecasts
B) Manually Entered Revenue Amounts retained on financial plans.
If you manually enter revenue plan amounts in budgets and forecasts, a new setting will prevent these manual entries from being overridden by the generation process.
C) Project Forecast with periodic Columns:
You can now enter Periodic plan values in a forecast in a columnar view. It is better than the earlier line-by-line update in tabular row-based view, but it is still pretty clunky as you get three periodic columns at a time which you then slide back and forth using period slides above the table.
5. Labor cost rates from financial management:
Plan labor resources in Manage Project Resources using the common source of truth for resource rates. This allows project managers to estimate the cost of project labor resources with improved accuracy earlier in the planning phase. For example, rather than manually maintaining the resource rates in Manage Project Resources, use the resource rates as defined in the rate schedules or project overrides.
This can now be used for project planning in Project Execution management, giving you a consistent view of planned cost across both modules.
Now let’s look at some minor enhancements:
i) Project Management common items:
a) Digital Assistant enhancements in time entry and PM Skills: I don’t even know anyone using these features — but hey, it’s the future!
b) OTBI subject area enhancements for Project Costing: Unprocessed cost shows new measures for counts of costed and non-costed transactions.
c) The expiration date of the Federal Financials Report now matches the date posted on grants.gov.
d) Unique Entity Id is now available in the Award Funding OTBI Subject Area.
e) Get news feeds in your actions on the Fusion Dashboard.
ii) Billing and Revenue Management:
Additional attributes are available to update contract invoices using a Rest API.
iii) Cost Management and Control:
Rounding rule changes for the display of currency amounts. If this enhancement is significant, click HERE to read more about it.
iv) Planning, Scheduling, and Forecasting:
a) Additional Payload Attributes for Project Status WF — this can only be a good thing.
b) Financial Plan updates using FBDI.
c) New Work Item Type called “Proposals” to plan your work with Innovation Management — see my discussion above on “Issues Linked to tasks as work items” and replace issues with proposals.
v) Project Asset Management:
Retrieve Project asset lines and asset line details using a rest API for Reporting and Integration.
vi) Project Management:
Resource Validation when importing plans from MS-Project to Project Management: if any resource assigned in MS-Projects is not a valid enterprise resource in Oracle, the entire plan import will be halted.
Summary
To learn more about Oracle’s latest features and how they will impact your project-driven organization, Proso’s Oracle consulting experts will help,
1. In Assessing the Impact level of each of the features on your business
LOW: No large-scale impact and hence regression testing is not required
HIGH: The feature if implemented needs regression testing
2. To Determine whether features need to be enabled or are ready to use.
3. In identifying the configuration need to implement a new feature
YES — Configuration/Setup is needed for feature implementation.
NO — Additional Setup is not needed.
4. In identifying whether the feature is Quick Win.
YES– Need minimal time for both parties to use the feature.
NO– Need significant time and effort to use the feature.
