When reviewing the 22D release notes, there were features which immediately caught our attention at Profource. Lets delve deeper into these new features and some existing ones that received an updates in the new release. We have divided these features into 2 domains: HCM and Finance.
- 22D – Absence Management: Multiple Year Carryover for Accrual Plans
You can now set the expiration time for Absence Balances further than 1 year in advance (the previous limit). This means that Dutch Non-Statutory Leave can automatically expire after 5 years.
Employees can easily see their total accrual balance, as well as each part of when the balance expires. The solution automatically deducts the balance which will expire first.
Different expiration periods, for example statutory (6 months) and non-statutory (5 years), still require different plans.
- 22D – Per formance Management: All-In-One Evaluations
Managers can use the new All-In-One Evaluation feature to evaluate multiple employees that have the same performance document. This makes the process more efficient, but also enables the manager to have a quick overview of their team.
- Autocomplete Rules
Autocomplete rules have been added in a previous release, but new releases keep adding more options and support for more locations. With this feature within the HCM Design Studio, customers can take the user experience to the next level by allowing customers to define very specific criteria for defaulting and validation.
For example: setting an end date as required for a definite contract, or not allowed when the contract is indefinite.
- Guided Journeys
The last feature we are excited about is the Guided Journey option. This makes use of the Journeys/Checklists functionality and you can embed these within transaction flows. This enables customers to add process explanations, video’s, work instructions, real-time reports etc. Guided Journeys will remove the need for external work instruction material and ensures that Employees, Line Managers and HR Specialists know what is required of them when using HCM.
- Notification to Employees when New Corporate Card Charges Arrive
A very useful feature for every organization using credit cards. In line with many other functionalities for which notifications exist, the creation of credit card expenses is enriched with a notification flow. Another step in the provisioning of things to do.When the Enable Notifications for Credit Card Charges setting is enabled for a business unit, employees receive email notifications as soon as their corporate card expenses are available in the Expenses work area. The notification lists the newly created card expenses for the employee. Employees can either review expense details in the notification or navigate to the Expenses work area to review and submit the expenses.
- Journal line description and accounting display on journal lines and inquire detailed balance drill down page
Sometimes the simplest things can put a smile on your face. This new feature is one of them. Finally the Description and Accounting Date fields are provisioned in the inquiry screens in General Ledger. No longer do you need to drill down to get to the often searched for detailed information of a transaction.
- Legal Entity-Based Data Access for Bank Account Setup
Organizations with multiple legal entities and bank accounts often face the challenge of restricting access to bank accounts. The current security options in Manage Bank Accounts do not suffice and have some loopholes. This feature solves this and aligns the methodology to restrict access with other modules, hence using data access.
- Intelligent Account Combination Defaulting for Invoices
Every Oracle Cloud user with a high volume of non-PO invoices should consider this feature. This feature uses Al and machine learning algorithms to predict and default segment values of the account code combination on accounts payable invoice lines. AI and machine learning use the historic data patterns and the specific influencing factors for each segment to predict their value. Use this feature to reduce invoice entry time and accelerate the process of making invoice ready for payment, reduce “think time” for Accounts Payable analysts and improve the user experience.