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Oracle Advanced CollectionsQ ) What is Oracle Advanced Collections ?

Ans) Oracle Advanced collections is the module which deals primarily with collection of youraccounts receivable from the customers. Companies sell to customers on credit and theseinvoices become due as per the invoice terms. Typically you may specify Net!" which means

#$$% of the invoice amount is due in forty five days from the date of invoice.

&owever for some reasons the invoice is not paid on time. 'ome of the reasons could beinvoice not sent to the customer" (nvoice wronly billed" Customer does not have funds orbecome bandrupt" customer does not aree with invoice amount*terms " invoice sent to thewron address.

+ost companies have billers and collectors manain the A, department. -illers are the firstlevel contracts and they contact the customer to collect these outstandin amounts. Thecontact method may be mail" email" fa or phone call depends on their company terms.

Oracle A, initially had dunnin letters functionality to remind the customers of their dues. Thedunnin level could be ad/usted from a entle reminder to collections advisory.

When the billers are not able to collect the amounts" the cases et transferred to collectors orat a later date to third party aencies for speciali0ed in collection.

&owever the functionality was limited in scope which did not meet the modern dayre1uirements. Once has built lot of functionality around Advanced Collections to automate thecollection process. Advanced collections was a wor2 bench in ,eceivables which now become afull fleded module with lot of features and automation.

What are the compones of Advanced Collections?The 2ey components of advanced collections are Collectors*Territories" 'corin 3nine"4niversal wor2 1ueue*collectors wor2 1ueue" (nteraction &istory" Notes 'etup"5unnin*'trateies" fulfillment*ml communication.

'corin

'corin calculates a score value for an ob/ect in the database. 6ou can score followin types ofob/ects seeded in collections" or you can create new scorin ob/ects.

7arty" Account" or -ill To 8 The operational data level at which you do business with yourcustomers.

Transaciton8 A transaction created in Oracle ,eceivables" or oriinatin in Oracle.

9oans or Oracle lease manaement. When determinin delin1uency status of transaction"Oracle collections creates a delin1uency in a collection table. When a transaction is no lonerdelin1uent" the status becomes current.

Case8 A roup of leasin contracts for a customer sharin the same bill to address" a privatelabel and other contract parameters. Case only applies if you use Oracle lease manaement.

Concurrent 7rorams

The scorin enine harness concurrent proram runs from one to five scorin enines. (naddition" you can add a concurrent proram to scorin enine" and when the scorin enine isrun by the score enine harness concurrent proram" the related concurrent prorams alsoruns. :or eample you can add the stratey manaement concurrent proram to assinscollections strateies based on the score results.

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'corin Components

The scorin component uses a select statement or a function to return a score value. :or3ample" you can as2 for the total number of delin1uencies for a customer or how lon aCustomer has been doin business with your company. 3very scorin enine must haveat least one scorin component.

The values calculated by a scorin component are then assined scores. 'core ranenumbers can be positive or neative numbers to two decimal places" and must accountfor numbers from ;