January 17, 2024

Exploring Oracle Cloud 23D: A Dive into Module Advancements


Oracle continues its commitment to innovation with the release of Oracle Cloud 23D, ushering in a host of enhancements across key modules. In this article, we'll unravel the latest updates of Oracle 23D Release in the Human Capital Management (HCM), Financials, Supply Chain Management (SCM), and Project Financial Management modules.

Human Capital Management Module: Elevating Workforce Management

In the HCM module, Oracle Cloud 23D introduces a suite of enhancements aimed at elevating workforce management. From the ability to audit mass document downloads to adding non-workers as line managers, the release empowers users with increased flexibility. Strategic workforce planning receives a boost with the introduction of position budgeting, while the grouping of similar jobs streamlines scheduling processes. Enhanced job searches, simplified LOV value selection, and access to Fusion Analytics insights contribute to a more user-friendly experience. Users can now prepare for changes like the discontinuation of Share Personal Info support in the upcoming 24B update. Noteworthy improvements also extend to HCM for the US, with enhancements in the "Manage Locations" task and increased flexibility in global payroll interfaces. The Redwood experience introduces new pages and enhancements for document records, employment contracts, transactions, and workforce structure management.

Financials Module: Optimizing Financial Operations

In the Financials module, Oracle Cloud 23D brings about optimizations to financial operations. Common Financials witness performance improvements in AP and AR Reconciliation, with rounding conversion options enabled for transaction tax amounts. Budgetary Control introduces the ability to disable budgetary control for all journal sources. Payables benefit from automation features streamlining invoice creation and payment processing, while new acknowledgment processes align with ISO 20022 standards. Expenses support centrally-billed travel cards, and J.P. Morgan corporate cardholders gain touchless expense submission and real-time expense creation. General Ledger allows administrators to exclude Auto Accounting Journal Entries, and Fixed Assets enforce capitalization thresholds while introducing user roles for asset transactions.

Supply Chain Management Module: Enhancing Operational Efficiency

In Oracle Cloud 23D, significant enhancements transform the SCM module to boost operational efficiency: it enables the identification of financial flows according to transaction dates for intercompany shipments; moreover, procurement introduces vacation rules--enhancing purchase order management and adding features that improve supplier communication and attachment handling. Lot-controlled goods receive better tracking and transfer orders see improved handling through Inventory Management. Inclusive of a more robust cost rollup process and enhanced inventory counting, Cost Management actively contributes to this practice. Additionally, it augments manufacturing by boosting flexibility in work center calendars; refining material picking procedures; and fortifying data security policies.

Project Financial Management Module: Streamlining Project Operations

In the Project Financial Management module, Oracle Cloud 23D streamlines project operations with notable updates. Apple Mac devices now support Microsoft Excel for file-based data import spreadsheets (FBDI) in Project Management Common. Billing & Revenue Management allows attaching additional documents when sending contracts via email and enables checking approval progress directly from contract search results. Project managers can access detailed invoice information by drilling down on the invoice number.

Conclusion: Elevate Your Oracle 23D Experience with Opkey's Expertise

As we anticipate the significant Oracle Cloud 23D Release, businesses must prepare to harness its enhanced features and improvements. In this dynamic landscape, Opkey stands out as a specialized leader in Oracle Cloud updates, having successfully guided healthcare providers like Cottage Health through seamless Oracle Cloud update testing.

Opkey's track record speaks for itself, with Cottage Health reducing test cycle times by a remarkable 87% and achieving 100% test coverage with Opkey's test automation platform. The platform empowers clients with over 5,000 pre-built Oracle Cloud test cases spanning various Oracle modules. Opkey's Impact Analysis reports, included with each Oracle Cloud Release, provide valuable insights, allowing businesses to navigate updates with precision.

Their customers have experienced an impressive 80% reduction in maintenance efforts through the use of Opkey's Self-healing reusable test scripts. The end-to-end testing platform streamlines complex test management, ensuring that businesses can adapt seamlessly to Oracle's evolving landscape.

Opkey's comprehensive test automation capabilities play a pivotal role in ensuring that all new features and updates in Oracle 23D are thoroughly tested for functionality, security, and performance. By leveraging Opkey, businesses can automate their Cloud testing processes, significantly reducing manual effort and minimizing the risk of errors during the Oracle 23D Release.





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