What’s New in Oracle Financials Cloud for 20C?

What’s New in Oracle Financials Cloud for 20C?

Redwood is a new user experience design which will be featured as part of the 20C update on Oracle Fusion Applications. The new aesthetic is designed to humanise the feel of technology and appear to be more inviting, warm and global. Redwood bridges the gap between design and functionality to serve as one for an engaging and dynamic user experience.

The latest 20C update, which will be rolled out from August 2020, will provide some valuable upgrades and enhancements in Oracle Financials for both users and implementors.

Key Enhancements for your Oracle Financials Cloud 20C:

Uses Oracle Business Intelligence for Email Notifications
You can use Oracle Business Intelligence Publisher templates to generate a modern and unified look and feel for email and in-application notifications. Modifying templates will help meet business requirements and policies.

To enable the Configurable Expenses Workflow Notifications feature, you will need the Application Implementation Consultant role and away you go.

Oracle Cash Management – No more reconciling reversing transactions
Oracle Cash Management now excludes reversals and the corresponding original entry from the reconciliation process. This will help streamline the bank statement reconciliation process by eliminating from the process and allowing users to concentrate on the unreconciled items that require attention. The Cash to General Ledger Reconciliation Report is also enhanced to remove reversals and the corresponding originating journal entries from the report.

Oracle Fusion Expenses – Receipt Scanning on Android
Employees using Android can scan receipt images from their Expenses Android application using either the Camera option or the attachment field in the Enter Expense screen. Employees can select an expense type and make modifications as needed.

Subledger Accounting – Review and Correct Accounting for Subledgers
A useful feature introduced for users that previously encountered errors on their Create Accounting process. This represents a vast improvement on the previous process having to download and correct them using the spreadsheet add in.

Users can review subledger accounting and transfer to General Ledger errors by Oracle subledgers and ledger using a new user interface called Manage Accounting Errors.

You can search for accounting exceptions by error categories or transaction number and also navigate to relevant tasks, resolve the error, and submit the accounting process again. After you have corrected the accounting errors, you can submit the Create Accounting process again for the erroneous records.

Simplified Workflow Rules Configuration – Invoices and Journal Approval
With the Simplified Workflow Rules Configuration feature, you can create rules for Payables Invoice Approval and General Ledger Journal Approval workflows using spreadsheets.

You can download the spreadsheet template, enter data, and then upload it using the Manage Workflow Rules in the Spreadsheet task.

You can now specify the starting approver for Payables Invoice Approval workflow rules created using Supervisory or Job level hierarchy approval routing. This will help us create rules where the starting approver varies based on varying attributes specified in the dataset.

About Namos Solutions
Namos Solutions are an award-winning Oracle Platinum Partner and Cloud Excellence Implementer (CEI) specialising in the implementation and support of ERP, EPM and HCM business solutions, both in the Cloud and on-premise.

With global experience together with an impeccable track record, our business is built on our passion for delivering successful business transformation.  Passion underpins everything we do at Namos – passionate about delivering beyond expectations, earning trust and building long-lasting relationships with our clients.

Although based in central London, we work wherever our clients need us to be.  Many leading organisations located all over the world trust and rely on our expertise to deliver industry-leading business solutions.  Namos customers can currently be found in the UK, Europe, Middle East, Asia Pacific, North America and Africa. 

For more information, please visit www.namossolutions.com or email info@namossolutions.com.

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