Well, Open World 2012 is officially in the books and although it was exhausting, it has been exciting. As I stated in my last blog, there has been no official release date for Oracle 12.2. However, there are some exciting developments coming in the near future.
From the OAUG Engineering and Construction SIG we learned of three new functionality features that will be coming in the future – two of which will be in the next 12 months as targeted by Oracle.
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Due in the next 12 months:
- Project Driven Supply Chain Integration – this functionality will allow Project Managers and Team Members to be able to control the purchasing the purchasing process within Oracle Projects by utilizing the following
- Task Dates can be utilized to drive Need By Dates in Procurement
- Negotiated Pricing can be taken into account when making purchases and can be incorporated into the planning/budgeting process.
- Project Managers and Team Members can drive Purchase Requisitions from Projects to initiate the Purchasing Process for the Buyer.
- Project based criteria can be utilized to help the buyer make decisions in regard to which vendors to purchase goods from.
- Financial Plan Based Project Controls – this functionality will allow for Progress to be applied directly to the Financial Plans rather than forcing customers to utilize Workplan functionality.
- Project Managers and Team Members will be able to apply progress to project Financial Plans to enable more efficient Forecast generation for those customers who do not implement the Workplan functionality.
Functionality due beyond 12 months:
- Streamlined Billing and Revenue – this functionality will introduce the concept of Progress Based Billing. This method is utilized by many engineering and construction companies and is the standard per the American Institute of Architects (AIA). Project Managers and Team Members will be able to record the following to determine invoicing amounts
- Applications for Payment
- Progress Certifications
- Earned Value Amounts
An item to note on this is that Perficient has a solution developed to address this form of Project Billing. Please use the link below to access our data sheet for this offering.
Perficient Progress Billing Solution