The Oracle E-Business Suite 12.1 Payables Essentials exam is designed for individuals who possess a strong foundation and expertise in selling or implementing Oracle E-Business Suite Payable Financial Management solutions.
You need to possess and be able to demonstrate knowledge of Procure-to-Pay process flow, Payables process flow, Multiple Organization Access Controls (MOAC), Suppliers, Invoices, Payments, Expense Reports and Credit Cards, Period Close, Transaction Taxes in Payables, Withholding Tax and Advances and Progressive Contract Financing.
Clearing the Certification will not automatically lead you to a job. However a Certification with some project experience will certainly open a lot of doors for you. The consultants who will benefit the most from a certification are the ones with typically less than 2 year's project experience.
This is not to say that consultants with higher experience will not benefit, but at that level, having a certification matters much less.
So if you have little or no Oracle Payables experience, you should get yourself certified, get some project experience, and then the whole of the Oracle applications World is open for you to explore. Helping you with the first step on you ladder to success is this book