A Performance Obligation is a promise to deliver goods and services to a Customer. An example of a Performance Obligation in a contract is providing for a telecommunications company is to Voice and Data Plan to a Customer, including a mobile phone.
A Performance Obligation template is used to define bundles that are routinely sold to customers.
A Performance Obligation template is used to define bundles that are routinely sold to customers.
A similar example of a bundle would be a Voice, Data and Phone Plan. These are usually sold to customers together, and thus, can be included in one template.
Another similar setup is the Implied Performance Obligation template. The keyword here is "implied." This means is that there might be performance obligations in a customer contract that are implied, but they're not captured anywhere in the source system.
In our Telecommunications contract, an example of this would be, a customer will get a free car charger included in his or her Voice, Data and Phone Plan. That free car chargers is not registered anywhere from the source system. So to be able to account revenue for the car charger, then you would need to define an implied performance obligation template like this one.
These performance obligations templates are business-specific. Therefore, oracle doesn't predefined any of them. You would have to create them according to the needs of your business or industry.
These performance obligations templates are business-specific. Therefore, oracle doesn't predefined any of them. You would have to create them according to the needs of your business or industry.
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