slide4-oraclefinancialscloud.docVIP

Slide 4 - Oracle Financials Cloud Release 9 Slide notes Hello, my name is Narayana Palukuri. Welcome to the Release 9 Training for Oracle Fusion Payables. In this session, we’ll cover the Cross-Currency Payments enhancement we have made in this release. Notes Slide 5 - Agenda Slide notes For the enhancement covered in this training, we’ll give an overview, followed by more detail to explain how you can use it, and what business value it brings. Then we’ll walk you through a demonstration. Notes Slide 6 - Enhancement Overview Slide notes Let’s now look at what is a cross-currency payment. A cross-currency payment is a payment that can pay invoices in any currency, irrespective of the currency on the invoice. For example, you can make a payment in Canadian Dollars for invoices created in US Dollars. In today’s global business environment customer transactions go across several countries. More and more customers are looking for the business opportunities across countries. For customers to operate globally they need to be more agile, streamline their processes and look for the opportunities to improve operational efficiencies. Cross-currency payments that is payments made in a currency different from the invoice currency is one of the common payment scenarios for the customers doing business across countries. For customers especially in Europe, Asia and Latin America cross-currency payments is a very common practice. Cross-currency payments address these challenges faced by the customers and helps them effectively manage their cross-border transactions. Notes Slide 7 - Enhancements Overview: Glossary Slide notes In order to easily relate to the actual terms provided in the application, we will be using the following terms quite frequently during this session Cross-currency rate type: Rate type used to convert invoice currency to payment currency Cross-currency rate: Converts the invo