Session ID: 108850
Abstract: We recently designed and deployed project based contract billing and revenue recognition for a rapidly growing specialty lighting contractor. We were challenged with business requirements to cater to a swiftly diversifying business that is experiencing extreme growth. The key to the solution lay in the level of detail that the business needed in order to track and report on a real-time basis to forecast their revenue and progress.The projects and their corresponding contract and budget creation is automated from Oracle Sales Cloud; based on signed customer proposals as part of a completely integrated and cohesive custom solution.In this presentation I want to accentuate solutions offered to meet two major business necessities utilizing Oracle PPM Cloud's core Billing and Revenue functionality.
Objective 1: Real-time Revenue Recognition based for lighting fixture installs while accounting for costs that are not billable to the customer. The projects typically contain over 100 line-items with different margins per line.
Objective 2: Automated Retainage Billing based on predefined percentages for multi-line project with progress completion with specialized accounting required upon invoicing.
Objective 3: Completely integrated solution for AIA-compliant progress billing to cater construction clients utilizing inherent Oracle Cloud Project Contract billing methods.