Order to Cash also known as O2C or OTC is the business process that covers the entirety of the order processing system right from receiving the order to up until the point the payment is made and an entry is logged in your accounting books.
Oracle Order Management is an order-to-cash solution that provides capabilities for customers, partners and employees to select the right products and services, negotiate the best prices and ensure timely fulfilment.
The Order to Cash flow is the complete process of entering an order into the system (Sales Order), delivery the good(s) (Shipping), and then producing the Invoice for the good(s). The ability to take a Sales Order through the following phases:
> Booking of the Sales order is done through Order Management and as the order progresses, users can track the status of the order.
Pick Release, Ship Confirm
> Pick release and Ship confirm will be done by Inventory Management. Once goods are shipped, inventory interfaces will be processed and corresponding GL entries will be created and posted to GL.
> Oracle Receivables lets businesses raise invoices for the goods and services provided to customers. The invoices can be linked to Sales Orders and revenue tracked.
Bank / Cash receipts
>> Oracle Receivables also facilitates receipt of money against invoices from customers. Lockbox functionality also provides the flexibility to upload bank statements to Oracle and process receipts automatically reducing time and efforts of business users.