Adobe Captivate - Oracle · Web viewOracle Fusion Grants Management is tightly integrated with the...

Adobe Captivate Thursday, May 25, 2023

Slide 2 - Oracle Project Portfolio Management Cloud Release 9

Slide notesHello, my name is Prithi. Welcome to the Release Training for the new Oracle Project Portfolio Management Cloud Oracle Fusion Grants Management product. In this session, I’ll introduce you to this new product and its capabilities.

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Slide 3 - Slide 3

Slide notesI’ll give an overview of Oracle Fusion Grants Management, followed by more detail to explain how you can use it, and what business value it brings.

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Slide 4 - Oracle Fusion Grants Management

Slide notesOracle Fusion Grants Management, delivered in Release 9, provides a robust and integrated solution for managing the complete post-award lifecycle, from initial funding to close out.

Oracle Fusion Grants Management is tightly integrated with the rest of the ERP cloud providing unprecedented efficiency and data accuracy.

Common components of the HCM cloud, such as people and organizations, are utilized throughout the cloud offerings. The SCM cloud could be used to manage purchase orders that accrue on receipt and inventory-related transactions.

As you can see, the flow starts when awards have been accepted and funded. Web services and open interfaces are available to facilitate integration with an existing pre-award management system. Grants Management then allows for the funding to be allocated to sponsored projects and budgeted at a detailed level. Direct and indirect costs are incurred against the projects and billed periodically. Throughout the process, Principal Investigators and Grants Administrators can monitor the award performance to ensure that the appropriate controls are applied to spending, and also ensure that applicable reporting is provided back to the funding sponsor. Finally, the award can be reviewed and closed out.

The award team can resolve open items in a timely manner and effectively collaborate on research work using Oracle Social Network.

Use the real-time, multi-dimensional ad-hoc reporting platform to track all award funding, cost, commitments, invoices and revenue and to create analyses and dashboards for your various user communities.

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Slide 5 - Efficiently and Effectively Manage Your Awards

Slide notesGrants administrators can quickly create all aspects of an award, project and its funding using a single page. The application automatically creates control budgets to enforce spending limits for award projects.

An award can fund one or many projects including a single project funded by an internal funding source. You can easily track and manage the funding information including who granted the funding and the funding time period. Award budget periods can be of any duration and are specific to each award.

Awards in external applications can be easily integrated with Oracle Fusion Grants Management using industry standard web services and file-based open interface methods.

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Slide 6 - Collaborate Socially on Awards Using Oracle Social Network

Slide notesYou as a principal investigator can effectively collaborate with the award team to share research information and updates using Oracle Social Network. You can start, view, and contribute to conversations with team members on research-related activities. You can have reviewers from your team or related teams, and include external stakeholders to collaborate on document reviews. For example, you can publish key research achievements or issues with all team members using a conversation and consolidate the feedback shared by team members for those issues.

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Slide 7 - Effectively Plan, Control and Evaluate Budgets, Commitments, and Expenditures

Slide notesThe new Release 9 features in Oracle Fusion Project Control enable your Grants Administrators and Principal Investigators to set up and create control budgets automatically when they create award project budgets.

The control budgets available are Project and Top Resource. A Project control budget controls at an overall project level only and does not break amounts into various subcategories. The top resource control budget uses the resource breakdown structure and summarizes the budgeted amounts by the top level resources. An example of a top level resource would be an expenditure category like Labor or Expenses.

The calendar defined on the award is transferred to the control budget, including the pre-award date and close date to support pre-award and close-out processing. The control budget calendar is based on whether the award is enabled for expanded authority or not. In case of expanded authority, the control budget uses the entire award duration including pre-award date and close date as one period to enforce spending limits. In case of restricted spending, the control budget uses the individual budget periods defined in the award to enforce spending limits. As the sponsored project budget is set to baseline the control budgets are created, balances are uploaded and control budget periods are opened for use. This means that your organization can control expenses against the sponsored project immediately without any additional effort from your administrative staff.

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Slide 8 - Effectively Plan, Control and Evaluate Budgets, Commitments, and Expenditures

Slide notesThe new Release 9 features in Oracle Fusion Project Costing enable your Grants Administrators and Principal Investigators gain control over the spending of sponsored project budgets. By providing business rules that allow for control at sponsored project and a sponsored project’s top resource, a project’s raw and burden costs can be easily and uniquely controlled and consumed.

This means Principal Investigators can be assured that a project transaction entered in the Oracle Fusion procure-to-pay flow, Oracle Fusion Project Costing, or from a third-party application will have any raw and burden costs budget checked at source and reserved at the appropriate level against a sponsored project budget. If the sponsored project transaction fails budgetary control validation, the reasons why a project transaction has a funds failure becomes visible. Principal Investigators can then quickly take corrective action and provide resolution. Overall, this means your company’s commitments, obligations, and expenditures are better cost controlled and financially managed.

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Slide 9 - Efficiently Invoice Sponsors

Slide notesThe new Release 9 features in Oracle Fusion Project Billing enable your Grants Accountants to efficiently manage award billing.

The new invoice and revenue method simplifies billing and recognizing revenue, at cost. This ensures that sponsors are billed accurately and saves time to manually reconcile cost with billed and revenue recognized amounts

You can also set up awards to bill sponsors by their letter of credit number and document number, enabling you to analyze letter of credit drawdown by a particular letter of credit number

The application automatically creates federal SF270 forms by calculating and appropriately formatting invoices for federal sponsor

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Slide 10 - Accurately Report Award Financial Performance

Slide notesGrants administrators and Principal Investigators can quickly analyze up-to-date financial performance information for their awards and drill into funding, budget, commitment, and expenditure details. They can view available balances, see when the budgets of overspending projects will be consumed, and take action to add budget amounts or allocate funds to prevent project budgets from being spent earlier than expected. They can also track awards and projects that end in the next 30 days, and proactively initiate and complete close-out tasks.

Grants administrators can submit financial information to federal sponsors in the required format using predefined reports.

As needed, they can create user-centric analyses and dashboards on award and sponsored project activity using a comprehensive real-time business intelligence platform.

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Slide notesIn summary, Oracle Fusion Grants Management delivers business value to grants administrators and principal investigators by providing efficient and effective ways to manage award, project, funding and financial performance.

Reduce time and effort when establishing new awards by quickly creating an award including related award objects such as project, contract and budget for your sponsored research.

You can collaborate with anyone anywhere and at anytime from a Web browser, smartphone, tablet, or desktop client.

Quickly visualize the current spending status of awards and drill down to funding, budget, commitment, and expenditure details. Key analytics and visuals in the work area alert you when items require your attention, such as, awards and projects that are ending soon and take appropriate action to resolve the open items.

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Slide notesQuickly build analyses and dashboards using Oracle Fusion Transactional Business Intelligence for all stakeholders. View and compare award funding, budgets, costs, commitments, revenue and invoice details.

Enhance productivity by creating analyses to address key business processes such as award close-out tasks. Personalize the user experience by including additional analyses and dashboards in the work area.

Simplify and automate integration with external applications using the award web services such as creating awards from proposals managed within your pre-award applications.

Entering and importing award data is made fast and efficient by using a standard tool such as Microsoft Excel.

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Slide notesThe automatic integration between Oracle Fusion Project Control and Oracle Fusion Budgetary Controls and the enhancements made to Oracle Fusion Project Costing enables you to have better cost control over the award projects you manage.

After the application creates control budgets and uploads budget balances, the budgets are ready to use. This saves you a lot of time allowing you to focus on the execution of your projects.

Principal Investigators can have confidence that strict sponsor funding requirements can be easily met. With tighter cost controls and visibility over sponsor funding, Principal Investigators can spend more time producing world-class research, instead of back office research administration.

Overall, Principal Investigators and Grants Administrators are better equipped to prevent cost overruns. Insight into project funding accelerates corrective action, thereby ensuring financial resources or sponsor funding is properly managed.

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Slide notesThe enhancements made to Oracle Fusion Project Billing enables Grants Accountants to have better control of award billing. The enhanced control over billing and the simplicity of setting it up ensures accuracy and increases the efficiency of generating invoices and recognizing revenue.

Since the application automatically uses the cost reimbursable option to create award contracts that ensures sponsors are billed at cost, grants administrators don't have to do any rate configurations. They can track all invoices and also perform letter of credit analysis using Microsoft Excel. The application automatically generates SF270 documents that can be printed and sent to sponsors.

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Slide 43 - Summary of Capabilities

Slide notesIn summary, the new product Oracle Fusion Grants Management helps you perform several tasks to efficiently manage your awards and funding.

You can quickly create award, project, contract, allocate funding and budget all in a single page.

You can associate multiple projects to an award, and enable cost sharing using the internal funding source.

You can integrate with Oracle Fusion Grants Management using the standard-based web services or the Microsoft Excel-based data import mechanism.

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Slide notesYou can also collaborate on awards using Oracle Social Network, and share information and updates about the research activity with your team.

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Slide notesWe offer a tight integration between Oracle Fusion Project Control, Oracle Fusion Project Costing and Oracle Fusion Budgetary Controls. The key requirements addressed are:

Create control budgets during the award creation process

Conform with organizational budget policies and award policies

Budget check and control costs at the project and top resource control budgets and by control level of Absolute, Advisory or Track.

And use a central budgetary control engine to create burden and budget check both the raw cost and burden cost entered at the projects transaction source in the procure-to-pay flow, Oracle Fusion Project Costing, or from a third party application

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Slide notesOracle Fusion Project Billing has the following enhancements to manage award billing in Release 9:

With the help of the new cost reimbursable billing method you can invoice and recognize revenue at cost accurately without the need of elaborate rate configuration

Efficiently track your award billing by letter of credit

And easily print invoices in the federal standard format

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Slide notesYou can track important metrics for your awards such as spending status based on burn rate, available balances and important dates that require attention. You can generate financial reports based on a sponsor specified format.

You can analyze your awards, funding, budgets, costs, commitments, revenue and invoices using the multi-dimensional subject areas provided in Oracle Fusion Transactional Business Intelligence. You can quickly build analyses and dashboards for all stakeholders and personalize the user experience by including them in the work area.

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Slide 48 - Associated Release Training

Slide notesHere is some associated release training content for your reference. Thank you for listening.

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Adobe Captivate - Oracle · Web viewOracle Fusion Grants Management is tightly integrated with the...

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