Oracle Financials Cloud
ReadSoft Online is an automated document-processing system that utilizes remote cloud computing. This means you no longer have to maintain large, expensive server systems and complex software installations in order to process documents. Instead we handle all of that for you, and all you need is a web browser to access a state-of-the-art document-processing system on the cloud.
ReadSoft Online accepts documents in various formats—such as paper, image files, email—and automatically interprets and validates them. All you have to do is log in using a web browser to upload invoices and check interpreted data for correctness using an intuitive, state-of-the-art interface. Likewise, administrative tasks can be easily performed in a web browser.
After an invoice is processed, ReadSoft Online automatically sends the output (document data and images) to a target system. The target system can be one of many popular financial systems, accounting programs, ERP systems, or even a file system. The possibilities are endless.
ReadSoft Online can do more than send output to a target system; it can also perform seamless, two-way communication with the target system, providing additional features and interaction. We call this an integration. Integrations are flexible, easy to configure, and come complete with all the features you need in order to connect ReadSoft Online with your target system. This saves you time and money, since there is no need for extensive customization.
This integration consists of these components:
- ReadSoft Online.
- Oracle Financials Cloud.
The Oracle Financials Cloud integration enables cooperation between ReadSoft Online and Oracle Financials Cloud. It leverages more power and adds value to your current system by extracting data from invoices without expensive hardware investments.
The Oracle Financials Cloud integration supports these features:
Processing of purchase order and non-PO invoices as well as credit notes.
Manual and automatic line-item pairing.
Account coding (distribution combinations).
The integration synchronizes master data between Oracle Financials Cloud and ReadSoft Online. General-ledger accounts, coding segments, currencies, suppliers and purchase orders are imported, so the data is available for selection during invoice processing in ReadSoft Online. The master data that is available can also be filtered by business unit.
- Split-delivery purchase orders.
Support for both types of line items (services and goods) in Oracle Financials Cloud.
Credit notes/credit memos.
Support for automatic and manual selection of payment methods.
Master data import of tax-classification and ship-to locations provides field suggestions and helps prevent errors which otherwise occur during manual entry.
Data templates let you map data to payables line-item fields in Oracle. This is helpful if you want to override an existing mapping or map to a line-item field that is not mapped by default.
Where to go from here
Before you can use Oracle Financials Cloud with ReadSoft Online, you must:
After you complete the configuration and the rest of the customer setup, you are ready to begin processing invoices using the integration for Oracle Financials Cloud.