4.1 Request Finance

This topic describes about the request finance.

Using this option, corporates can raise funds from the bank, for business activities like paying off liabilities, or gaining liquidity to start production of a new order. These funds are arranged by availing finance against invoices/purchase orders.

The corporate user can avail finance against multiple invoices/purchase orders associated with a particular ‘program and counter party’ combination. Finance can only be availed by the borrower in the program. The borrower is determined by the Program Type selected during the creation of the program.

• The borrowing party must be set as the borrower in the program associated with the invoice/purchase order.

To request finance for an invoice/debit note or purchase order:

1. Perform any of the following actions:
   • From the Dashboard, click the Toggle Menu, then click Supply Chain Finance. From Supply Chain Finance, click Finance Management, and then click Request Finance.
   • In the Request Finance screen, select the instrument to be financed, whether Invoice/Debit Note or Purchase Order.
   The Request Finance screen appears.

   Figure 4-1 Request Finance

   
   

   
   Description of "Figure 4-1 Request Finance"

   
   

   Table 4-1 Request Finance - Field Description

   Field Name	Description
   Party Name & ID	Select the party name and ID from the drop-down list for which the finance must be requested. By default, the primary party of the logged-in user is selected. Note: Only accessible parties are displayed to the user.
   Underlying Instrument	Select the instrument to be financed. The options are: Invoice/Debit Note Purchase Order
   Program Name	Select the name of the program under which the instrument should be financed. This list displays all programs linked with the logged-in party.
   Associated Party Name	Select the required party associated with the invoice/debit note or purchase order to be financed. This list displays the associated party to link the invoice/debit note or purchase order from all on-boarded associated parties. The list of on-boarded associated party is categorized by: Anchor Buyer Anchor Supplier Counter Party Buyer Counter Party Supplier On selecting an associated party, the role of the party as Buyer or Supplier, appears below this field.
   Currency to be Disbursed	Select the currency in which the finance amount is to be disbursed.
   Limits	This widget displays the list of all the limit types of the logged-in corporate party. Each limit type displays the name of the limit type, color-coded donut that displays the utilized limits in percentage, and the details of the sanctioned, utilized, and available borrowing limits displayed in the limits currency. Click on each limit and expand them to view the limits assigned to the party including the associated parties, linked programs, and products. Once the Program Name, and Associated Party Name fields are selected, then the widget displays only the relevant limit type. Refer the View Limits section for more information.

2. Once the above details are entered, click Submit to submit the request. Based on the entered data, a list of financeable invoices/debit notes or purchase orders is displayed. Or, click Clear to reset the entered data.

   Note:

   • Once you click the Submit button, a message is displayed on the top of the window based on the value of the Consolidated Disbursement flag.
   • If the flag is set to Yes, the following message is displayed, “Please be advised that invoices/purchase orders will be consolidated and financed together, provided they meet the applicable grouping criteria as defined by the bank's parameters”.
   • If the flag is set to No, the following message is displayed, “Please be advised that invoices/purchase orders will be financed separately up to the threshold limit set by the bank. Once this threshold is exceeded, the invoices will be financed collectively”.

   This section displays a list of invoices/debit notes which are either not financed or are partially financed. Invoices/debit notes that have already been financed, are not listed. A similar list is displayed for purchase orders, if you select the Purchase Order option in Request Finance through field.

   Figure 4-2 Select Invoices/Debit Notes

   
   

   
   Description of "Figure 4-2 Select Invoices/Debit Notes"

   
   

   For more information on fields, refer to field description table.

   Table 4-2 Select Invoices/Debit Notes - Field Description

   Field Name	Description
   Select Invoices/Debit Notes	Displays a list of invoices/debit notes or purchase orders with Status as Accepted / Partially Financed and Payment Status of Unpaid / Partially Paid. Note: Invoices/Debit Notes that are not linked to any program will not get displayed. You can use the Click here link to do the linking. If you are financing invoices/debit notes, then the following details are displayed for each record.
   Search	Indicates an option to search for invoices/debit notes by entering the partial or full reference number, amount and so on.
   Select	Select the check box(es) against one or multiple invoices/debit notes of same or different currency to request finance. Based on the selection the following fields: No. of Records Selected for Requested Finance, Total Requested Finance Amount, and Total Amount in Disbursement Currency are updated.
   Indicator	Displays ‘I’ for invoice(s), and ‘D’ for debit note(s).
   Reference Number	Displays the reference number of the invoice/debit note. An Info icon is displayed with the following message, if the invoice is linked to a purchase order that is financed. The invoice record has linked Purchase Order which is Financed. Click on the reference number to view details. This is a hyperlink which when clicked, displays the details of the invoice/debit note in an overlay window. For more information, refer the View Invoice Details / View Debit Note details section in User Manual Oracle Banking Digital Experience Receivables Payables Management.
   Due Date	Displays the invoice/debit note due date.
   Accepted Amount	Displays the amount that has been accepted.
   Outstanding Amount	Displays the amount that is to be paid.
   Maximum Finance Available Amount	Displays the maximum amount that can be financed.
   Requested Finance Amount	Displays the finance amount being requested for finance. Click on the field to modify the requested finance amount. You can enter the amount less than or equal to the maximum finance available amount.
   Amount in Disbursement Currency	Displays the maximum amount that can be financed, post-conversion to the disbursement currency. The exchange rate is also displayed.
   No. of Records Selected for Requested Finance	Displays the total number of invoices/debit notes selected for financing.
   View Finance Details	Displays the finance details hyperlink which when clicked opens an overlay to display the possible number of finances that are processed basis the selected number of invoices. The overlay also displays the interest data applicable for the finance. For more information, refer to View Finance Details (Overlay window) section below.
   Total Amount in Disbursed Currency	Displays the total amount to be financed, in the disbursement currency.
   Total Requested Finance Amount	Displays the total finance amount being requested for the selected invoices/debit notes. Click to modify the requested finance amount. You can enter the amount less than or equal to the maximum finance available amount.
   Upload Documents	Click the upload icon to upload a document related to the finance being requested. The maximum allowed size for each document is 2MB. The supported formats are: PNG, JPG, JPEG, and PDF. Once a document is uploaded, the name of the document appears as a hyperlink, which can be clicked to open (or save) it. The delete icon also appears beside the document, which can be used to delete the uploaded document. Note: The uploaded document can also be viewed by the ‘Approver’, in the ‘Pending For Approval’ section.
   Select Purchase Orders	Displays a list of purchase orders with Status as Accepted/Partially Financed and Payment Status of Unpaid/Partially Paid. Note: Purchase Orders that are not linked to any program will not get displayed. You can use the Click here link to do the linking. Purchase Orders that are in completed status only gets displayed. If you are financing purchase orders, then the following details are displayed for each purchase order record.
   Search	Indicates an option to search for purchase orders by entering the partial or full reference number, amount and so on.
   Select	Select the check box(es) against one or multiple purchase orders of same or different currency to request finance. Based on the selection the following fields: No. of Records Selected for Requested Finance, Total Requested Finance Amount, and Total Amount in Disbursement Currency are updated.
   Purchase Order Number	Displays the unique reference number of the purchase order. This is a hyperlink which when clicked, displays the details of the purchase order, in an overlay window. For more information, refer the View Purchase Order section in User Manual Oracle Banking Digital Experience Receivables Payables Management.
   Date	Displays the date of creation of the purchase order.
   Accepted Amount	Displays the purchase order amount that has been accepted.
   Outstanding Amount	Displays the amount that is to be paid.
   Maximum Finance Available Amount	Displays the maximum amount that can be financed.
   Requested Finance Amount	Displays the finance amount being requested. Click on the field to modify the requested finance amount. You can enter the amount less than or equal to the maximum finance available amount.
   Amount in Disbursement Currency	Displays the maximum amount that can be financed, post-conversion to the disbursement currency. The exchange rate is also displayed.
   No. of Records Selected for Requested Finance	Displays the total number of invoices/debit notes selected for financing.
   View Finance Details	Displays the finance details hyperlink which when clicked opens an overlay to display the possible number of finances that are processed basis the selected number of invoices. The overlay also displays the interest data applicable for the finance. For more information, refer to View Finance Details (Overlay window) section below.
   Total Amount in Disbursed Currency	Displays the total amount to be financed, in the disbursement currency.
   Total Requested Finance Amount	Displays the total finance amount being requested for the selected purchase orders. Click to modify the requested finance amount. You can enter the amount less than or equal to the maximum finance available amount.
   Upload Documents	Click the upload icon to upload a document related to the finance being requested. The maximum allowed size for each document is 2MB. The supported formats are: PNG, JPG, JPEG, and PDF. Once a document is uploaded, the name of the document appears as a hyperlink, which can be clicked to open (or save) it. The delete icon also appears beside the document, which can be used to delete the uploaded document. Note: The uploaded document can also be viewed by the ‘Approver’, in the Pending For Approval section.

   Table 4-3 Pending For Approval - Field Description

   Field Name	Description
   View Finance Details	This overlay window displays the details of the multiple invoices that are grouped together for disbursement of finance on the basis of Currency, Invoice Due Date, Buyer Division Code, Supplier Division Code, Stale Invoice, Overdue Invoice, and Earmarked Limits.
   Finance Amount with the Currency (No. of records)	Displays the finance amount of the selected records along with the currency. It also displays the number of records (invoices/purchase orders) bunched for the same currency.
   Interest	Displays the interest rate applicable for the finances. If a tier - based finance is applicable, then click the icon beside the interest type to view the interest rate details.
   Maturity Date	Displays the maturity date of the finance.
   Tenor	Displays the tenor of the finance.
   Grouping Parameters	Parameters that are used for bunching other than those displayed in the Linked Invoice Details/Linked Purchase Order Details are listed under the grouping parameters, such as Stale, Overdue, Earmarked Limits, etc.
   Linked Invoice Details	This section is displayed only for the finance request is against invoice(s)/debit note(s).
   Reference Number	Displays the reference number of the invoice/debit note that has been financed.
   Due Date	Displays the due date by when the invoice/debit note must be paid.
   Buyer Division Code	Displays the division code of the buyer.
   Supplier Division Code	Displays the division code of the supplier.
   Invoice Amount	Displays the invoice/debit note amount that is due.
   Payment Due Date	Displays the due date by when the finance amount must be paid.
   Linked Purchase Order Details	This section is displayed only for the finance request is against purchase order(s).
   Reference Number	Displays the reference number of the purchase order that has been financed.
   Due Date	Displays the due date by when the purchase order must be paid.
   Buyer Division Code	Displays the division code of the buyer.
   Supplier Division Code	Displays the division code of the supplier.
   Purchase Order Amount	Displays the purchase order amount that is due.

3. Select the check box(es) against the invoice(s)/debit note(s) or purchase order(s) to be financed.
   The Request Finance screen displays.

   Figure 4-3 Request Finance - Select Invoices or Debit Notes or Purchase Orders

   
   

   
   Description of "Figure 4-3 Request Finance - Select Invoices or Debit Notes or Purchase Orders"

   
   
4. Upload relevant documents.
5. Click Request Finance. The Review screen appears. Or, click Cancel to cancel the transaction

   Note:

   • The following appears for invoice(s)/debit note(s), if sufficient limits are not available for financing.
   • “Sufficient limits are not available for disbursement of finance. Do you want to proceed?”. Click Ok to proceed. Or Click icon to cancel.
6. In the Review screen, verify the details, and click Confirm. A Confirmation message of request initiation appears along with the reference number. Or, do one of the following:
   • Click Back to navigate back to the previous screen.
   • Click Cancel to cancel the transaction.
7. Click the View Finances link to view a list of finances with their status. Or, do one of the following:
   • Click the Supply Chain Overview link to go to the Supply Chain Finance dashboard.
   • Click the Go to Dashboard link to go to the main dashboard.