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Oracle Revenue Management and Billing (ORMB) is a comprehensive module within the Oracle ERP cloud suite designed to streamline and optimize the revenue lifecycle for businesses. Here’s a detailed breakdown of its functionalities:

Tax Management:

• Configure and automate tax calculations based on product or service type, customer location, and relevant tax regulations.
• Support various tax types like sales tax, VAT, and excise duties.
• Generate tax reports for compliance purposes.

Subscription Management:

• Manage recurring subscriptions with automated billing for ongoing services or product access.
• Offer flexible subscription options with different tiers, features, and pricing models.
• Track and manage subscription renewals and cancellations.

Integration Capabilities:

• Integrates seamlessly with other Oracle ERP modules like General Ledger, Accounts Receivable, and CRM for a unified financial management system.
• Can also integrate with third-party applications for data exchange and enhanced functionalities.

Core functionalities of ORMB:

Pricing and Deal Management:

• Define and manage various pricing models like subscriptions, one-time fees, usage-based pricing, and tiered pricing structures.
• Create and manage customer contracts and agreements with specific pricing terms and conditions.
• Facilitate quote generation and negotiation processes.

Billing and Revenue Recognition:

• Automate the generation of invoices based on customer agreements, product usage, and service delivery.
• Manage different billing schedules (e.g., monthly, quarterly) and support various invoice formats.
• Ensure accurate revenue recognition according to accounting standards (e.g., ASC 606).