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SEPA@Oracle EBS :’ Out of the Box’

Posted on September 30th, 2008 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

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Nine months since the launch of SEPA, Oracle has finally released patch for SEPA Credit Transfer (SCT) for much demanded need for European EBS customer.

dgreybarrowHigh Points of SEPA Project

Lets recap some of high points of SEPA project.

  • Objective: Harmonize electronic payment schemes according ISO 20022 rules.
  • Countries: Euro zone countries
  • Transactions: Only Euro transactions.
  • Period: From January 1, 2008.The goal of EPC is to make SEPA mandatory from 2011

dgreybarrowSEPA support at Oracle

  • Oracle plan is support in major product(EBS,Fusion, Enterprise) lines
  • Oracle plan is to support only two types of SEPA messages in most of these products:
    • Customer Credit Transfer Initiation
    • Customer Direct Debit Initiation
      • For Availability of these functionality , check out documentation of respective products.

dgreybarrow SEPA@ EBS

Oracle EBS functionality for SEPA messages customer credit transfer initiation (pain.001.001.02) is based on the ISO20022 format. ISO20022 format have these benefits;

  • Batch booking
  • Grouping : This reduce the number of transmitted files
  • Remittance message
  • End to end id . This will ease reconciliation and referencing

dgreybarrowSEPA messages with Oracle EBS Release dates for 11.5.10 and 12

These are summary of different SWIFT message.

swiftcode

Fig 1: SEPA swift Message

Out of these list Oracle EBS supports for both Customer Credit Transfer(pain.001.001.02 ) as well as Customer Direct Debit (pain.008.001.01)

Here are the summary of information for SEPA out-of-box Functionality in EBS.

RElease Date

Fig 2: Oracle Support for SEPA

dgreybarrowSEPA availability in EBS

The SEPA Credit Transfer Initiation Message is available for R11.5.10 via Patch 6741280.Customer using 11.5.10 can get the functionality enable by applying patch.

OraclePatch

dgreybarrowWrapping up

  • The SEPA out-of-box functionality will be released as patches
  • Jan 2008 – Jan 2010 is a official transition period
  • Extensive test is required with bank when you are utilizing this functionality.

Will keep you posted for any updates.:)

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