In Release 12, Oracle Advanced Collections is the product and engine that manages collections and related activities. Oracle Receivables integrates with Oracle Advanced Collections to provide you with a complete collections management solution. With this integration, all collections activities take place from within Oracle Advanced Collections.
Advanced Collections provides a simpler process flow where users work primarily within one main screen to easily review accounts, take promises, and process payments, adjustments, and disputes, all while recording the interaction with the customer.
In previous releases collections was part of Oracle Receivables, but in Release 12 collections processing has been moved to become part of the Oracle Advanced Collections product. Users can still perform simple collection tasks within Oracle Receivables but specific configurations must be performed.
Collections features for receivables are best illustrated by the following screenshot where all...