Challenges with Previous Versions
Have you ever had to build customizations around deferred invoicing, complex risk calculations, or pricing provisions?
Due to the complex nature of the ETRM industry; Risk, Accounting, and Cash Applications rely heavily upon 3rd party tools for functions such as robust inventory valuations, WACOG calculations, and taxing functionalities. The unavailability of these tools in the older RightAngle versions encourages businesses to strongly consider an upgrade to the latest version.
Additionally from an IT standpoint, PowerBuilder or a hybrid system results in Increased Server Load and hampers stability making custom code deployment troublesome. Along with standards to be followed for SOX Compliance, the previous security manager doesn’t allow for individual task/ BA security thus increasing risk significantly.
Benefits of Upgrading to the Latest Version
There are numerous benefits to upgrading to the latest version, such as the new Search WACOG by Contract Summary/ Detail reports. This new feature helps reduce dependency on external applications, reduces Human Errors, and provides a better understanding of the company’s Risk Position. This will additionally replace reports such as search inventory values and provide a consolidated report with advanced core fields to facilitate advanced risk calculations.
New ways to customize the risk solution, including quantifying the risk level on the portfolio level and modifying the accounting periods on common reports, lead to increased efficiency and productivity. Dependence on 3rd Party Customizations like deferred invoices and unique auto matcher scenarios for business needs can now be handled with core functionality in the latest version.
Inventory Valuation processes have more advanced logic, allowing them to utilize the WACOG calculations set for the particular transaction.
Daily WACOG by Contract is a new inventory valuation method available in S21.1. When accounting for inventory, Daily WACOG considers the fluctuations in commodity prices as new builds enter storage for each business day. The actual cost of inventory recalculates daily, and the cost of product sold out of inventory is priced at the inventory’s weighted average on the day of the draw. This allows Daily WACOG to more accurately reflect the value of sold products each day and benefits the accounting and risk practices (protects risk metrics from distortions due to high market volatility over time) of certain businesses, like retail fuel, which experience high daily sales volumes.
The module integrates with the accounts payable and accounts receivable modules in RightAngle, allowing businesses to manage bank information and view a cash available report that includes information on receivables from invoices. This helps to validate records and prevent the application of more cash than the receivable total amount or balance of cash received. Additionally, the module provides tools for creating write-offs and managing open items effectively.
Some of the key functionalities included in the RightAngle Cash Application & Disbursement module are:
- Bank Reference Data
- Cash Application Tool
- Cash Release Maintenance
- Aging reports to monitor open items
- Accounting control panel
Allows for increased capabilities around managing at the tank level and ensures the Tank Level information in the IWB header section and columns in the grid that contain tank level information or consider heels in their calculation (Pumpable Inventory, Heels/Unavailable, Tank Minimum, Tank Maximum, Projected Available Ending) are accurate when aggregating
Credit/Rebill configuration processes have been automated now for Sales transactions.
System updates to the invoicing processes/Reports to better utilize and track Deferred Invoices in the application.
The transition from PowerBuilder to .NET is tied closely to the increase in performance/stability. It enables a user-friendly interface and more sound core logic. The addition of .NET code allows users for easier customization/code deployments
This feature allows you to grant users specific licenses to unique models (such as credit centers) without giving them the full core license. This not only saves money on the number of core licenses needed but also will help regulate the available data to these users
Each new version of RightAngle that is released brings with it enhancements to core logic, more efficient processes, and improved technology to increase the performance (speed) and stability (uninterrupted sessions) of the application.
This item allows security access for individual Task Scheduler tasks to be given to groups. This way, only specific users can run critical tasks such as snapshots, alleviating a lot of risk of accidental runs by less familiar users.
Individual security settings for all internal business associates, which allows users to be part of singular or multiple groups. This is a critical item for SOX compliance, as well as other regulations on data access.
Transactional data, having so many variables involved, is a large chunk of available database space. Being able to archive this data will increase system performance by not overloading the databases, leading to quicker queries, increased database longevity, etc.
Adding Value to Service
Migration of all customizations
Level of expertise/knowledge
end-to-end quality checks, documentation, etc
Regression Testing for quality check
Value Creed Added Advantages
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