One of your ideas has been delivered from your suggestion.Information Lifecycle Management Support for Financial Transactions

In the previous release, background processes were introduced to help implementations prepare eligible historical financial transactions to be managed by Information Lifecycle Management (ILM) techniques (for example, partitioning) in a future release.

Eligible historical financial transactions can now be managed using ILM techniques. This release includes updates and new background processes including:

  • Enhanced ILM Crawler - Financial Transaction (C1-FTCRL) batch control that updates the ILM date for non-redundant financial transactions to a later date so that historical partitions only contain redundant financial transactions and can be managed through ILM.
  • To support more complete balance control processing, this release also adds:
    • Archive Balance Control (C1BCMMAR) batch control to mark Balance Control Members as archived when at least one linked financial transaction is marked as archived.
    • Create Balance Control Snapshot (C1BCSNPC) batch control to create Balance Control Member balance snapshots from financial transaction balances for the current pending Balance Control and complete it upon successful creation of snapshots. This batch control supersedes the Create/Validate Balance Control Snapshot (BCGSNAP) batch control.
    • Validate Balance Control Snapshot (C1BCSNPV) batch control to validate Balance Control balances against financial transaction balances and the resulting member balances, excluding Balance Control Groups marked as archived. This batch control supersedes the Create/Validate Balance Control Snapshot (BCGSNAP) batch control.
    • Balance Control page now displays a message if a Balance Control is marked as archived when at least one related Balance Control Member is marked as archived.

This will help you reduce storage-related costs by enabling redundant financial data to be partitioned, moved to lower-cost storage tiers, or archived in line with your business rules and compliance requirements.

Steps to enable and configure

To enable and configure this feature, refer to the Information Lifecycle Management (ILM) section of the Administrative User Guide and The Big Picture of Balance Control section of the Business User Guide for more information.

Additionally, system administrators should review and determine which user groups should be granted access to one or more of these application services:

  • ILM Execution Application Service (C1-ILM)
  • Balance Control Execution Application Service (C1-BCG)