How to create Spend Plans in Oracle Cloud ERP

Summary:

We need ability to create Spend Plans in Oracle for non-PO spend.

Content (please ensure you mask any confidential information):

The client is currently using Spend Plans functionality in another AP system to generate schedules for recurring non-PO spend like Utilities. Based on the last 24 months of the spend on utilities, a schedule based spend plan in created for the next 24 months and is routed for approval. This schedule based spend plan helps to build guard rails around this non-PO spends and has ability to define tolerances.

The invoices cannot be processed if the invoice is outside the tolerance defined on the spend plan and needs additional approvals – and these are not high values spends. There are different spend plans, with tolerances, setup by Supplier and/or type of service (Water, Gas etc.).