1. Release Notes
  2. Release Notes
  3. Release Enhancements
  4. Functional Features

1.2.1 Functional Features

This topic provides the information about the various functional features added to the product in this release.

Introduction of Transaction Reversal

As part of this release, Transaction Reversal feature is introduced in the application to allow the financial institutions to reverse the disbursement and settlement transactions for valid business scenarios.

Transaction Reversal Processing Workflow
As part of this release, following processing workflows are introduced to reverse the disbursement and settlement transactions.
  • Transactions submitted for reversal gets rolled back completely.
  • When the finances are searched for reversal, only the latest transaction record of the reference number is listed. The transactions that are In Progress does not get listed.
  • If an invoice based finance is selected for reversal which has a settled pre-shipment finance, then all the linked pre-shipment finances are selected for reversal.
Introduction of Transaction Reversal UI

As part of this release, Transaction Reversal UI is introduced to enable the users to initiate the reversal of disbursement and settlement transactions. This section is provided with a list of fields to search for the completed transactions. For more information, refer to Transaction Reversal section in the Supply Chain Finance User Guide.

The Transaction Reversal screen can be accessed in the following path:

Supply Chain Finance > Transaction Reversal
Introduction of Transaction Reversal Tasks

As part of this release, the Transaction Reversal task is introduced in the application. When a transaction reversal is initiated, an disbursement reversal or settlement reversal task is created in the system based on the associated system parameters.

The Amendment tasks can be accessed from the following path:

Tasks > Finance > Free Tasks
The following data segments are provided for the Transaction Reversal operation:
  • Basic Information
  • Pre-Shipment Liquidation (Applicable for Disbursement reversal transactions only)
  • Party
  • Interest
  • Limits
  • Charges
  • Summary
Enhancements to Maintenance Screens
As part of this release, the System Parameters maintenance screen is enhanced to support the Transaction Reversal feature. Following fields are introduced in the Workflow Parameters tab:
  • Reversal Auto Processing
  • Reversal Auth Required
Enhancements to Finance Inquiry
As part of this release, Finance Inquiry screen is enhanced to display the finance transactions that are reversed. Following changes are introduced in the inquiry screen:
  • Disbursement Reversed value is added to the Finance Status field.
  • Finance Reference Number hyperlink is enhanced to display both the Disbursement/Settlement data segments as well as Disbursement/Settlement Reversal data segments.
Enhancements to Auto Reconciliation

As part of this release, Finance Payment Recon rule is enhanced to not select the finances with Disbursement Reversed and Settlement Reversed for auto reconciliation. The payment record for which the settlement is reversed will be marked 'No' for auto reconciliation and is available for manual reconciliation.

Enhancements to Payment Inquiry

As part of this release, Payment Inquiry screen is enhanced to introduce Finance Status column in the Reconciled Finance Details tab.

Enhancements to Instruments
As part of this release, following enhancements are carried out if a finance disbursement transaction is reversed.
  • If a finance disbursement is reversed for an invoice or a purchase order, they will be available for financing. The new finance can only be manually initiated.
  • Receivables Inquiry screen is enhanced to display Finance Reversed status in the Linked Finance Details tab.
  • Purchase Order Inquiry screen is enhanced to display Finance Reversed status in the Linked Finance Details tab.
  • Instruments of the finances which are in progress for reversal event will not get listed for any of the actions in Receivables and Payables Management.
  • Payment Inquiry screen is enhanced to introduce Finance Status column in the Reconciled Finance Details tab.

Enhancement of Source Stamping in Transactions

As part of this release, Source Stamping is enhanced to display the source channel of all the transactions. The source channel is identified based on where the transaction is initiated from.
  • Tasks - The following tasks screens are enhanced to display the Channel column.
    • Finance
    • Instruments
    • Recon and Payment
    • Refunds
  • Inquiry - The following inquiry screens are enhanced to display the Channel column as non-default field in search results grid.
    • Credit Note Inquiry
    • Receivables Inquiry
    • Purchase Order Inquiry
    • Payment Inquiry
    • Finance Inquiry
  • Transaction - The following transactions screens are enhanced to display the Channel field in the Basic Information tab.
    • Disbursement
    • Settlement
    • Amendment

Enhancements to Finance Amendment

As part of this release, Finance Amendment feature is enhanced to introduce interest repricing of the existing finances for valid business scenarios.

Enhancements to Finance Amendment UI

As part of this release, Finance Amendment UI is enhanced to enable bank users to modify the tenor, and reprice the interest of an active loan. For more information, refer to Finance Amendment section in the Supply Chain Finance User Guide.

  • View Amendments hyperlink is enhanced to display the details of the original and modified values.
  • Basic Information tab is provided below the List of Finances section to enable the user to modify the maturity date and value date of the finance.
  • Interest tab is provided next to the Basic Information tab to enable the user to reprice the interest of the finance.
Enhancements to Finance Amendment Tasks UI

As part of this release, the Amendment tab in Amendment tasks screen is enhanced to display the list of changes for both maturity date and interest repricing.

Enhancements to Pre-Shipment Finance Settlement

If there are any errors in the settlement of pre-shipment finances on liquidation of invoice payments, the transaction moves to the PrePostConversionException stage. As part of this release, following enhancements are carried out in disbursement tasks screen for PrePostConversionException stage to resolve the Pre-Shipment Finance Settlement.
  • Retry button is introduced to re appropriate pre-shipment settlements.
  • Approve button is introduced to approve the transaction.
  • Skip Pre-Shipment Liquidation toggle switch is introduced in the Basic Info tab of disbursement tasks screen for PrePostConversionException stage. This toggle switch provides an option to skip the liquidation for the particular pre-shipment finance(s).

Introduction of Back Dated Disbursements

As part of this release, back dated disbursements is introduced to request finance disbursement for invoice, debit note, or purchase order wherein the funding request date is lesser than the current business date for valid business case scenarios.

Enhancements to Maintenance screens

As part of this enhancement, the Allow Back-Dated Disbursements field is introduced in the following maintenance screens in Supply Chain Finance module:

  • Finance Parameters tab of System Parameters screen.
  • Finance Parameters tab of Product Parameters screen.
  • Finance Parameters tab of Program Parameters screen.
  • Link Spokes tab of Program Parameters screen.
Processing Changes
  • Validation for Funding Request Date i.e., Funding Request Date should be greater than or equal to the Current Business Date is enhanced to support Back-dated disbursements when Allow Back-dated Disbursements flag is set to YES. This enhancement is applicable to both File upload and create receivables/payables screen for invoice, PO, and Debit Note.
  • When a back-dated disbursement is initiated, the application validates the Allow Back-Dated Disbursements flag as per hierarchy.

Introduction of Charges for Export Factor

As part of this release, following enhancements are carried out to allow the user to define charges for an Export Factor.

Enhancements to Maintenance screens
  • Charge Decisioning Maintenance - Export Factor is added to the list of values in Party to Charge field for both Supply Chain Finance and Receivables and Payables module.
  • Internal Account Mapping Maintenance - Bank radio button is added to the Party Search field for both Supply Chain Finance and Receivables and Payables module.
  • Accounting Entry Code Maintenance - Export Factor is added to the list of values in Debit Party and Credit Party fields for Receivables and Payables module.
Processing Changes
Following processing changes are carried out to support charges defined for Export Factor.
  • When Factoring Profile in a Program is selected as Import Factor, then the Export Factor Charges maintained will be levied when the said event occurs.
  • The charges can be levied on an import factor or export factor during processing, only when the said factor is identified in the invoice.

Enhancements to Instruments creation to support additional fields for duplication check

As part of this release, instrument creation (invoice, debit note, credit note, and purchase order) via Create Receivables and Payables, and File uploads are enhanced to include the following additional fields for duplication check in addition to the existing validation of Instrument number, and Supplier ID.
Invoice Debit Note Credit Note Purchase Order
Buyer Id Buyer Id Buyer Id Supplier Id
Invoice Date Debit Note Date Credit Note Date Purchase Order Date
Filler 3 Filler 3 Filler 3 Filler 3
Enhancements to System Parameters
As part of this enhancement, System Parameters screen is updated to include the following fields to support duplication check.
  • Additional Duplication Check Required
  • Invoice Duplication Check Parameters
  • Debit Note Duplication Check Parameters
  • Credit Note Duplication Check Parameters
  • PO Duplication Check Parameters

Enhancements to product mapping between OBSCF and OBCL

OBSCF has been enhanced to allow one-one mapping of products with Lending Application. This enables the application to support independent product-wise accrual and amortization accounts. Host Product Code field is introduced in the Product Parameters tab of System Parameters screen to map OBSCF product to an OBCL product.

Parent topic: Release Enhancements