10+ Senior Functional Consultant Interview Questions and Answers

Contract lifecycle management involves managing contracts from creation to execution to renewal or termination.

• Involves managing contracts from creation to execution to renewal or termination

• Includes drafting, negotiation, approval, and monitoring of contracts

• Ensures compliance with terms and conditions, tracking key dates and milestones

• Utilizes software solutions for efficient contract management

• Improves visibility, reduces risks, and enhances collaboration in contract proce...read more

ERP stands for Enterprise Resource Planning. It is a software system that helps organizations manage their business processes.

• ERP integrates various business functions such as finance, HR, inventory management, and supply chain management.

• It provides a centralized database that can be accessed by different departments.

• ERP systems can be customized to meet the specific needs of an organization.

• Examples of popular ERP systems include SAP, Oracle, and Microsoft Dynamics.

• ERP impl...read more

Mutating triggers and cursors are database concepts used in procedures to perform specific actions.

• Mutating triggers are triggers in Oracle databases that are fired when a row is updated, causing the trigger to see the data as both the original and updated values.

• Cursors are database objects used to retrieve and manipulate data in a set row by row.

• Procedures are stored blocks of code that can be executed on demand in a database management system.

Contracting and esignature involve legally binding agreements and electronic signatures.

• Contracting refers to the process of creating and agreeing upon a legally binding agreement between two or more parties.

• Esignature, or electronic signature, is a digital form of signature that can be used to sign documents electronically.

• Esignature technology allows for the signing of contracts and other documents online, making the process more efficient and convenient.

• Esignature solution...read more

MRP functionality includes material requirements planning, types of scheduling are backward and forward scheduling, benefits include improved efficiency and reduced lead times.

• MRP functionality helps in planning material requirements based on demand and production schedules

• Types of scheduling include backward scheduling (starting from due date) and forward scheduling (starting from start date)

• Benefits of backward scheduling include better alignment with due dates and reduced ...read more

GST process in STO scenarios involves movement of goods between two different states with tax implications.

• In STO scenarios, goods are transferred from one branch to another within the same company but in different states.

• GST is applicable on the supply of goods in STO scenarios, with tax implications based on the state of supply and recipient.

• The supplying branch issues a tax invoice to the receiving branch for the goods transferred, including applicable GST.

• The receiving br...read more

Icertis is a leading provider of contract lifecycle management (CLM) software solutions.

• Icertis offers a cloud-based platform for managing contracts and related processes.

• Their software helps organizations streamline contract management, improve compliance, and reduce risk.

• Icertis has a global customer base across various industries, including healthcare, manufacturing, and technology.

• The company was founded in 2009 and is headquartered in Bellevue, Washington.

My package includes competitive salary, benefits, and potential for bonuses.

• Competitive salary based on experience and qualifications

• Benefits such as health insurance, retirement plans, and paid time off

• Potential for bonuses based on performance and company goals

The query selects the first name and last name of users from a database.

• Use SELECT statement to retrieve specific columns from a table

• Specify the columns to be selected after the SELECT keyword

• Table name should be specified before the FROM keyword

Cannibalization is the negative impact on sales of a company's own products due to the introduction of a new product.

• Occurs when a new product reduces sales of an existing product within the same company

• Can lead to decreased overall revenue and market share

• Companies must carefully manage product launches to minimize cannibalization

• Example: Apple releasing a new iPhone model that causes a decrease in sales of older iPhone models