Credit checking feature of Oracle OM provides the ability to check that the customer has sufficient credit available with the organization at the point of order booking ,picking, packing and shipping. Credit check rules, order transaction type, payment terms and credit profiles are the key setup entities that influence the credit check process.
Oracle OM credit checking includes:
- Validating orders and lines against existing credit limits defined in the credit profile.
- Placing credit holds at either the order or line level.
- Sending credit hold notifications to order creator.
- Automatically apply or release order or order line credit holds using credit check processor program.
- Reporting and querying tools to effectively manage your credit processes and ensure credit holds are processed in a timely manner.
Main purpose of Credit checking process is to minimize the financial risk that the organization assumes as a result of day-to-day transactions.
For Detailed setup of this functionality kindly check below video. It has covered all the mandatory setups required to have this functionality. Also, It has one test cycle included into it.
