Oracle works on the principle of continuous innovation. To enable its customers to manage their business processes more effectively, Oracle rolls out new features, functionality, and security updates on a quarterly basis. The latest Oracle Update in this series is 23A. Oracle's 23A release includes new enhancements for the Financials, Supply Chain Management, and Human Capital Management modules.
Read this blog to explore a high-level summary of all impacted functionalities for the Financials, SCM, and HCM modules.
Learn more: Oracle Automation Testing: All You Need To Know
Oracle Cloud 23A: What’s New?
- Oracle Cloud 23A Updates In The Financials Module
- The Oracle Cloud Financials 23A update includes a new report called the Invoice Lines Recognition Rate Report. With the help of this report, users can now conveniently monitor the precision of invoice document processing carried out by the Intelligent Document Recognition feature.
- With the Oracle 23A update, it is now possible to divide payments for foreign currency invoices with VAT taxes into two distinct payments. This division includes one payment for the foreign currency line amount and another payment for the VAT amount in the ledger currency.
- The Oracle Cloud 23A release provides a feature called Configure controls to prevent future-dated journals from posting to an open period in average daily balance ledgers.
- Oracle Cloud 23A Updates In SCM/Procurement Module
- The recent release of Oracle Cloud 23A offers an improved "Award Distribution" feature, enabling users to capture project costs throughout the procure to pay cycle and while importing expenses from external systems.
- Oracle 23A updates allows users to create supplier sites with a name of up to 240 characters to better identify them, providing flexibility to satisfy the requirements of any naming convention.
- Users can now extend a closed negotiation to give suppliers more time to respond.
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- Oracle Cloud 23A Updates In The Human Capital Management (HCM) Module
- Users have an option to schedule recurring check-ins on a daily, weekly, monthly, or yearly basis which can be viewed on Employee’s Touchpoint page.
- When using the recent search option, managers and administrators are now prevented from viewing the Time and Absences pages of employees for whom they do not have access.
Watch Our Webinar: Oracle Cloud’s 23A release: A full breakdown
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