Document Management News

Oracle has announced the Oracle Financial Services Revenue Management and Billing for Banking platform to ease document management and streamline billing.

Oracle said the platform enables banks to automate billing and receivables management processes to increase fee-based income, provide accurate information to clients and reduce revenue leakage.

The application provides banks with a fully integrated enterprise platform for billing, cash applications and receivables management. It also helps the bank provide a single invoice for all customer activities for each customer relationship.

Oracle Financial Services Revenue Management and Billing for Banking makes it easier for financial institutions to calculate revenue and create invoices for diverse customer products and customer specific contracts, said Oracle.

The platform "allows institutions to more effectively measure the value of their customer relationships and enables them to quickly add newer products with flexible price and discount options that are limited today by legacy back-office applications", Oracle said..

The application includes dashboard capabilities that can help banks gain a real-time view into the transaction process and provides bank employees with valuable information for providing improved customer service.

Joe Morgan, vice president at the Oracle Financial Services Global Business Unit, said, “Oracle Financial Services Revenue Management and Billing for Banking enables banks to automate the revenue management process, fulfill customer commitments across their retail, commercial and wealth management businesses, and increase the transparency of revenue streams at the bank.”