Monday May 21, 2012

PeopleSoft Global Payroll integrates with PeopleSoft Cash Management for European Payments

PeopleSoft announces the much awaited union of two of its very popular products :

Financial Gateway

and

Global Payroll

To comply with the new Euro zone payments requirements and allow customers to leverage the value of a singular payments platform, PeopleSoft Global Payroll leverages the Financial Gateway, which is part of the Cash Management product within the PeopleSoft Financials suite.

The Financial Gateway is a robust and flexible payment hub that manages large volumes of payments, in several formats. One of the supported formats is the SEPA Credit Transfer. This solution will make SEPA implementation, compliance and maintenance easier over time, as more Euro zone payments will transition to SEPA rules in the future.

The SEPA (Single European Payment Area) project is an additional step in the construction of a unified European market, following the creation of the Euro Zone in 1999.The goal is to standardize the payment format used in cross border payments. This provides flexibility, security and reduced costs as well as enabling increased trade and investments in the SEPA area. The SEPA format was introduced in 2008 and will become mandatory for any Euro credit transfer from 2012 onwards. Direct Debit payment messages have also been introduced and will become mandatory in the coming years.

In order to reduce current and future SEPA changes impact on payroll processing, Oracle has fully leveraged the existing Financial Gateway capabilities to generate payment files and manage interactions with banks, while minimal changes have been implemented in the PeopleSoft Global Payroll product to prepare those payments.

The first SEPA update delivered by Oracle enables customers to manage:

  • Credit Transfers
  • in Euros
  • complying with general SEPA formatting and rules

The PeopleSoft Global Payroll product has been integrated with the Cash Management module from the PeopleSoft Financials Suite through PeopleTools Integration Broker 8.51.The PeopleSoft Global Payroll Core banking process prepares all the payment data, while the Financial Gateway feature from the Cash Management product will:

  • Format the payment data based on country Setup
  • Produce the SEPA payment file
  • Interact with the banks to provide for bi-directional, real time communication (send the payment file and receive the response from banks)
  • Send acknowledgements back to Global Payroll

It is critical to provide audit support in any payment process. To support that effort, the integration between Global Payroll and the Financial Gateway provides the following:

  • A delivered report can be run from PeopleSoft Global Payroll for data validation before publishing data to Financial Gateway.
  • Payment statuses and errors are sent back from Financial Gateway to PeopleSoft Global Payroll, and can be viewed through a new page in a Global Payroll component.

Friday Aug 26, 2011

New PeopleSoft HCM 9.1 Functionality Released

As discussed on earlier posts the PeopleSoft team recently released several new features for 9.1 customers.    These include:  Single Euro Payments Area (SEPA), Total Rewards Statement, Time & Labor Templates, and new  SCORM 2004 functionality.  The Oracle press release summary can be found  here.

 Media coverage of the release includes this article by Doug Henschen, from Information Week,  where he discusses the PeopleSoft strategy with Jim Holincheck at Gartner:

Oracle Has Fusion But PeopleSoft Lives On


Wednesday Jul 13, 2011

Oracle 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.

About

This blog is dedicated to topics focused on PeopleSoft Applications, including Human Capital Management, Financials, Enterprise Service Automation, Asset Lifecycle Management, Procurement, Supply Chain and Customer Relationship Management.

For information about legislative updates to our PeopleSoft Applications see the PeopleSoft Legislative Updates Blog.

For information about PeopleTools see the PeopleSoft Technology Blog.

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