Oracle has once again raised the bar with its latest Oracle Cloud 23D Release, introducing a slew of exciting enhancements and new features across various modules. In this article, we’ll dive into the highlights of what’s new in the Oracle Cloud 23D Release, focusing on Human Capital Management (HCM), Financials, Supply Chain Management (SCM), and Project Financial Management modules.
Enhancements in the Human Capital Management Module of Oracle Cloud’s 23D Release
Auditing Mass Document Downloads: With this update, Oracle Cloud 23D enables users to audit mass document downloads, providing enhanced security and accountability in document management.
Non-Workers as Line Managers: Oracle now allows the addition of non-workers as line managers, offering greater flexibility in organizational structures and reporting lines.
Position Budgeting: The introduction of position budgeting streamlines the budget management process, making it easier to allocate resources effectively.
Grouping Similar Jobs for Scheduling: Users can now group similar jobs for scheduling, simplifying workforce management and improving efficiency.
Enhanced Job Searches: Improved job search filters make it quicker and easier to find the right candidates for job vacancies.
LOV Value Selection: Users will find it more convenient to select List of Values (LOV) values, enhancing the overall user experience.
Fusion Analytics Insights: Access to Fusion Analytics insights provides deeper and more actionable analytics to inform HR and workforce decisions.
Junk Email Notification Prevention: Say goodbye to pesky junk email notifications, improving the overall communication experience.
Share Personal Info Support Discontinuation: Users are now prompted to prepare for the discontinuation of Share Personal Info support in the upcoming 24B update.
US HCM “Manage Locations” Task: The US version of the HCM module sees improvements in the “Manage Locations” task, enhancing location management capabilities.
Global Payroll Interfaces: Interfaces for global payroll now offer more flexibility for integrating absence records with third-party vendors.
Redwood Experience Enhancements: The Redwood Experience brings new pages and enhancements for document records, employment contracts, transactions, and workforce structure management.
Changes in the Financials Module of the Oracle Cloud 23D Release
AP and AR Reconciliation: Common Financials see performance improvements in Accounts Payable (AP) and Accounts Receivable (AR) reconciliation processes, making financial management more efficient.
Transaction Tax Amounts: Rounding conversion options for transaction tax amounts provide greater accuracy in financial calculations.
Budgetary Control: The ability to disable budgetary control for all journal sources simplifies budget management.
Automated Invoice Processing: In Payables, automation features streamline invoice creation and payment processing, boosting efficiency.
ISO 20022 Standards: New acknowledgement processes are introduced for ISO 20022 standards, enhancing global financial transaction standards compliance.
Expenses Management: Expenses now support centrally-billed travel cards, with J.P. Morgan corporate card holders benefiting from touchless expense submission and real-time expense creation.
General Ledger: Administrators gain the ability to exclude Auto Accounting Journal Entries, offering more control and customization. Fixed Assets now enforces capitalization thresholds and introduces user roles for asset transactions.
Modifications in the Supply Chain Management Module within the Oracle Cloud’s 23D Release
Intercompany Shipments: Financial flows can now be identified based on transaction dates for intercompany shipments, improving financial transparency.
Procurement: Procurement introduces vacation rules, enhances purchase order management, and adds features for supplier communication and attachment handling, streamlining procurement processes.
Inventory Management: Better tracking of lot-controlled goods and improved handling of transfer orders enhance inventory management capabilities.
Cost Management: A more robust cost rollup process and enhanced inventory counting in Cost Management provide more accurate financial reporting.
Manufacturing: Manufacturing gains flexibility in work center calendars, material picking, and data security policies, enabling better production planning and management.
Order Management: Order Management introduces order header holds, subscription integration, and enhanced note capturing, improving order fulfillment and customer satisfaction.
Revisions in the Project Financial Management Module of the Oracle Cloud 23D Release
Apple Mac Support for Excel: Project Management Common now supports Microsoft Excel on Apple Mac devices for file-based data import spreadsheets (FBDI).
Billing & Revenue Management: Users can attach additional documents when sending contracts via email and check approval progress directly from contract search results, simplifying contract management.
Invoice Details Access: Project managers can now drill down on the invoice number to access detailed information, improving financial management and reporting.
In the fast-paced world of technology, staying up to date with the latest advancements and updates is crucial for businesses looking to maintain a competitive edge. The upcoming Oracle 23D Release promises a host of improvements, including enhanced Cloud integration, AI-driven security, and improved performance. As this release draws near, it’s essential to ensure that your Oracle Cloud systems are fully prepared to leverage these enhancements to their fullest potential.
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