Which technologies are you intending to use to support your Revenue Cycle?

Which
technologies did you consider? What business benefits do these technologies provide?

As Salsa is a wholesale distributor, the revenue cycle consists of four key processes.

1. Process the Sales order

2. Delivering the product
3. Invoicing customers at a later date
4. Collecting the payment.

The technology that Salsa considered and is implementing is the ERP and CRM system that we are
already using (Oracle). Oracle is already known for creating a centralised database that allows
departments to work seamlessly and can be a scalable solution no matter how large SALSA becomes.
It can greatly help SALSA choose which of its products sell the most and where they need to put their
focus towards. Oracle will support each of the processes in the revenue cycle in the following ways

Process Sales Order

The first step in the revenue cycle is to process the sales order which consists of: checking the
inventory levels, performing a credit check and creating the sales order. Using Oracles CRM and ERP,
the system will automatically record and check all relevant inventory levels of the product before
processing the sales order. By having a database that keeps record of all the necessary customer
information, it can perform the necessary credit checks and tailor the order sales order specific to
the customer. It prevents the need to create a manual inventory check thereby saving time and
resources and reducing costs.

Delivering the Product

The second step consists of picking the goods, preparing for shipping and then delivering the goods.
There isn’t much that the CRM can support in this stage of the revenue cycle as this mainly involves
a lot of physical movement of the product. However the CRM system can still pick the goods
according to the customers’ requirements

Billing the Customer

The third step consists of ensuring the sale is complete and then creating the invoice. Oracles system
can keep the inventory levels are in check once the sale is completed. The invoice will get
automatically generated and issued to the client. Not only can Oracle generate an invoice for
customers, it will help keep track of other source documents as well including shipping notices, bills
of lading, remittance advices and a customer service log.

Receive and Record Payment

The final step is to receive and record the payment of the goods. The Oracle system can record all
payments received from the customers individually so we can keep track on all outstanding
balances. It can also help evaluate how quickly customers take to make the payment as the
payments are usually made on credit. All the relevant information needed to generate reports and
budgets can be then created from Oracle.
Vibes by Salsa are specially designed sunglasses that have bone conducting chip inserted in the
frames that can help people listen to music and attend calls, completely eliminated the need for
earphones. This report has been designed to look at the more intricate processes the Salsa is going
to undertake. It will look at three very important cycles that all companies implement. This is the
revenue cycle, expenditure cycle and the HR/payroll cycle. In the revenue cycle, Salsa will explore
what risks and controls can be implemented to ensure payments are met and what technologies can
support and benefit Salsa’s revenue cycle. With the expenditure cycle, we will look to implementing
a cycle that is different from our competitors. Finally, we will also look at the general outline of the
HR/Payroll Cycle that is set up within Salsa. Accompanying these cycles it is also important to analyse
what software Salsa is in need of and what are the most appropriate acquisition methods as per the
business requirements. Combining all these processes together, provides an insight as to how Salsa
managers their business processes and systems internally.