Friday Apr 19, 2013

PeopleSoft HCM Global Payroll SEPA Position Statement

European authorities have announced that SEPA will definitely become the mandatory banking format to manage credit transfers in Euros from February 2014 onwards. This date marks the end the of the transition period in a number of countries including France, Germany, Spain and the Netherlands, as country specific banking formats will no longer be accepted by banks in those countries after January 2014. This affects payroll payments, that could be processed either using country specific banking formats or the SEPA banking format until now.

In order to support the compliance needs of PeopleSoft HCM Global Payroll customers on releases 9.0, 9.1 and 9.2, Oracle is announcing important updates to enhance and extend its existing SEPA solution, in a new SEPA Position Statement published on My Oracle Support , Document ID 1546932.1. If you are a PeopleSoft HCM Global Payroll customer in Europe and haven’t moved your payroll payments to SEPA yet, please read this document to take advantage of the complete SEPA solution and latest enhancements delivered by Oracle for PeopleSoft customers.

Thursday Feb 14, 2013

EBICS Transfer Protocol and SEPA

A new feature has been delivered in Cash Management 9.1 to support EBICS transfer protocol and enhance SEPA compliance in Europe.

SEPA (Single European Payment Area) is a banking format shared across 31 European countries, for credit transfers and direct debits in Euros. The project was initiated in 2008 and SEPA format adoption is expected to become mandatory for all transactions in Euros in February 2014.

As SEPA impacts payroll payments, Oracle PeopleSoft delivered a solution in Global Payroll 9.1 back in July 2011, leveraging its comprehensive and flexible payment solution Financial Gateway from the Cash Management financial module. Financial Gateway supports almost all banking formats currently in use around the world and enables customers to manage the end-to-end banking process. Additionally, Financial Gateway enables to maintain banking formats easily, whenever format specifications are updated.

Along with the SEPA project, the banking industry in France performed some changes in infrastructures used to carry banking files, which led to decommission of some former transfer protocols and enforce the EBICS protocol as the sole vehicle to carry SEPA files.

In order to support this additional change, and ensure a full SEPA compliance to its HCM and FMS customers, Oracle PeopleSoft delivered a new EBICS connector to support EBICS based banking communications. Refer to doc ID 1526912.1 on My Oracle Support  for more information. This update is available under the resolution ID 889157 and included in the FMS 9.1 bundle 24.

Please direct any questions to deepa.saoji@oracle.com .


 

Friday Sep 16, 2011

PeopleSoft Global Payroll - Single Euro Payment Area (SEPA)

The SEPA project is an additional step in the construction of a unified European market following the creation of the unique Euro currency on January 1, 1999 and the introduction of Euro coins and notes on January 1, 2002.

The SEPA is a unified payments area which has been created by the European Payments Council (EPC) upon request of the European Commission. The goal is to make cross-borders Euro payments as easy as domestic payments in terms of flexibility, security, and costs so that trade and investments in the SEPA area increase. The changes for bank to bank transfers began implementation in January 2008 and become mandatory for any Euro credit transfer beginning in 2012. The changes will be rolled out gradually for various payments methods until the end of the transition period.

To comply with the new SEPA requirements and maintain current processes until the end of the transition period, Oracle PeopleSoft leverages the existing Financial Gateway product in the PeopleSoft Enterprise Financials Suite.

To reduce current and future SEPA changes that might impact payroll processing, Oracle PeopleSoft fully leverages Financial Gateway’s existing capabilities to generate payment files and manage interactions with banks.

No existing country-specific payment processes and reports have been discontinued. With the delivered SEPA feature, customers have the choice to move to the new SEPA format and the new delivered XMLP reports to process and monitor their payroll payments, or to continue to use their current process and reports, moving to SEPA at a convenient time. For more information download PeopleSoft’s Position Statement for Global Payroll Single Euro Payment from My Oracle Support, Document  ID 1337662.1. For detailed information download our white paper, Document ID 1337679.1. For additional details, including technical specifications, you can download our latest document on SEPA  Document ID 1364811.1

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This blog is dedicated to topics focused on legislative updates to PeopleSoft Applications including Human Capital Management and Financials.

For other useful information about PeopleSoft Applications see the PeopleSoft Applications Strategy Blog.

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