REMINDER

Check in on the

COLLABORATE mobile app

Enhance Global Banking Process

Prepared by:

Sanjay Mishra

BioMarin Pharmaceutical Inc.

Using Oracle R12 Account Payables, Receivables and Cash Management

Session ID#: 10241

Agenda

This is a subtitle or bulleted list

Agenda

Introduction

Why do we need improvement in process

Project Goal

Setup and Configuration

Functionality

Improved business process

Benefits

Introduction

Presenter:

Sanjay Mishra Manager of IT Corporate/Finance Applications, BioMarin Pharmaceuticals Inc., Novato, CA

BioMarin Pharmaceuticals Inc.

Biotechnology company, Founded in 1997

Mainly Focus on Rare (Orphan) genetic diseases

Remarkable accomplishment in the biopharmaceutical industry

Commercial Operations: Over 40 countries

A well-managed company and great place to work

Why do we need improvement in process?

Problem Statement;

Global presence and rapid growth of companys purchasing requirement with complex Payment process.

Manual invoice processing

Inefficient internal control

lengthy payment cycle and high volume of check processing

Tedious payment authorization process

Multiple bank account cross the world

Manual Reconciliation

Manual Receipt application

Operating cost

Why do we need improvement in process?

Project Goal

Centralized Invoice processing

SOX compliance

Improved Internal control

Utilize R12 feature of payment Manager

Seamless payment file processing

Automatic upload file to bank portal using FTP process

Implement Spend approval hierarchy

Automatic BAI file upload and Auto-reconciliation

Reduce Payables period close

Auto-lockbox Receipt Application

Eliminating the exposure of risks unique to payment system.

Setup and Configuration

Implement new and existing feature of Oracle Accounts Payables;

Payment Manager

Receivables Auto Lock-box

Cash management

Develop Inbound Invoice interface for Invoice creation

Develop outbound interface

Vendor extract

Open PO

Invoice status service

Define XML Publisher Format Template

Define Payment Format, Payment Method

Payment file transmission process

Setup and Configuration (Cont)

Define Bank, Branch and Accounts

Define Payment Process Profile

Setup FTP process

Setup Spend approval process on bank portal

Setup alert for successful file upload on FTP

Positive Pay File for Void Payments

Check printing

Update vendor master Banking details and remittance setup

Setup remittance advice template

Setup Lockbox

Functionality

Payment Manager Dash Board

Functionality (Cont)

Payment Process request statuses and its meaning

New

Invoice Pending Review

Invoices Selected

Pending Proposed Payment Review

Formatting

Confirmed

Cancelled

Terminated

Functionality (Cont)

Functionality (Cont)

Payment Profile

Functionality (Cont)

Update the Payment file naming convention and FTP URL to have file placed on particular location

Functionality (Cont)

Remittance Advice Set-up RDF and enable feature

Functionality

BAI file transmission and Auto-reconciliation

Functionality (Cont)

Auto-reconciliation

Functionality (Cont)

Auto lockbox Automate Receipt Application

Bank File

Import File and Lock box Processing Report

AR Interface Table

Auto Lockbox Validation and Processing Report

Cash Application

Improved business process Flow

Invoice Processing, with Image uploaded

to system

Invoice Verification/

Validation

Invoices routed to Buyer/Manager

for approval using AME, with

attachment's

Payment Manager process upload file to FTP using Payment

profile setup

File transmission to Bank Portal and

Payment with Spend Approval

Process

Import BAI file upload and

Reconciliation

AR Lockbox -Receipt

Applications

Update Payment

clearing date on Invoices

Invoice status service to

Vendor

Improved business process

Automate Invoice Processing, with Image uploaded using Oracle Payable Open interface program to bring third party electronic invoice with link of invoice images

Supplier Invoice Verification/Validation in compliance with SOX and Internal control.

Electronic payment approval workflow - Invoices routed to Buyer/Manager for approval with Invoice image and copy of purchase order attached.

Reminder, escalation features enabled. This reminds approver to approve invoices and avoids any delay.

Payment Manger dash board to leverage smooth payment process

Automate Bank statement upload and reconciliation

Automate AR receipt application

Improved business process

Automated Remittance Email process

Benefits

Benefits

Reduce data entry errors

Document sharing across authorized personnel

Appropriate payment controls

Less investment

No lengthy deployment

Seamless functionality

Less dependency on staff and improved productivity

Improve cash flow and reduce working capital

Keep track of all received invoices

Save manual handling and routing time

Avoid lost invoices

Free up AP staff time not spent answering emails and phone calls

Questions?

Please complete the session evaluationWe appreciate your feedback and insight

You may complete the session evaluation either

on paper or online via the mobile app