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Positive Pay Implementation – Step by Step Guide

Posted on July 26th, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Now that you know what Positive Pay is, you need to find out how to start using Positive Pay.

First, we need to start by saying that EVERY bank handles Positive Pay differently.

The steps/outline presented here are just a representation of what the most common implementation procedure could look like.

1. Contact your bank about signing up for Positive Pay.

You can start gathering these info first with Banking Partner

  • Do they currently offer Positive Pay?
  • What does it cost?
  • What are the steps to implementation?
  • How long will it take?

2. Receive bank's requirements.
Once you have signed up for Positive Pay with the bank, they should provide you with a Positive Pay (or Account Reconciliation) Information /details which includes (among other items):

  • File layout specifications
  • Transmission methods
  • Other Procedures and Guidelines

3. Find out what your accounting software package can produce.

  • You are trying to produce a file or report that contains a list of all checks issued for a certain date or date range.
  • You will either need to export this data or print the data to a text file.

4. Find an alternative method for creating a file that the bank will accept (if the accounting software does not produce something that is compatible with the bank's requirements).

5. Receive transmission and testing instructions from the bank.

  • This will explain the method and procedure for transmitting the data file from your location to the bank.
  • Submit test file
  • The bank will test the file for accuracy and compatibility and provide the results.

7. Start submitting live files

  • The bank will provide the official live date as well as any further instruction

Posted in Oracle Payable | No Comments »

Understanding Positive Pay

Posted on July 25th, 2016 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Positive Pay can best be described as a fraud prevention program or tool.

Technology has increasingly facilitated the ability of criminals to create counterfeit checks and false identification that can be used to engage in fraudulent check activities. As a result, companies must adopt practices to protect against check fraud.

Positive pay can provide this protection for companies by enabling them to create a file of check information that their banking institutions can use when determining whether to issue payment for checks.

Positive Pay technology allows banks to reconcile company issued checks with bank items presented for payment, and flag the exceptions.

No altered, copied, or counterfeited checks are cashed. This clearly helps banks cut down on check fraud losses.

Following are the advantages of Positive Pay:

  • Avoid losses due to check fraud.
  • Facilitate the check reconciliation process.
  • Enhance overall cash management program.
  • Augment risk management measures

When you use positive pay, you create a file for your bank that includes information for each check that you printed during the day, such as check number, date, amount, and account number.

The bank compares the information on the checks that they receive with the information in this file, and if the information for any of the checks does not match the file, the system does not pay the checks.

Why is Positive Pay so Important?

Positive Pay implementation is the principal action in the development of a corporate check fraud strategy.

Originally created by big companies , Positive Pay has proven itself as an effective weapon in the war against check fraud.

Until recently, due to the custom computer programming and data transmission requirements, Positive Pay had been very expensive and difficult to implement, reserved only for very large corporations.

The complexity of Positive Pay implementation had been further compounded by a lack of industry standardization that resulted in each bank individually developing their own unique file transmission specifications and requirements.

Positive Pay has become the most effective tool for fighting check fraud. And the recent enchancement of Payee Positive Pay has made it nearly impossible for a check to be fraudulently produced or modified successfully.

Positive Pay Today

Many bank customers are not really concerned about check fraud because they are still under the impression that the bank must absorb all of the check fraud losses.

But with check fraud expected to exceed $50 billion [ adopted Internet ] annually, the federal government has ruled that bank customers must also be responsible for check fraud losses.

Therefore , not only do banks want their customers to be using Positive Pay, the bank customers are also motivated to prevent fraud.

Banks expect that the number of customers using Positive Pay will multiply many times over in the next few years.

Do you still have these Business Problem

  1. POR – Pay on Receipt
  2. Global Payment Compliance
  3. Periodic Recurring Payments
  4. Check Printing
  5. Prevention of Check Fraud

In that case , Positive Pay Implementation may be an options to automate . Next Post , we will take deep dive on Positive Pay Implementation Process...Untill Then .:)

Posted in Oracle Payable | No Comments »

Go Mobile with E-Business Suite [Smartphone Apps]

Posted on October 17th, 2014 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Oracle has recently released 14 mobile applications for Oracle E-Business Suite. In order to support real-time business decisions and collaboration , today's increasingly mobile workforce requires instant access to targeted enterprise data and functions-wherever and whenever they want.

These mobile applications, including horizontal apps targeted for all employees as well as role-based line of business applications .

These new applications provide simple on-the-go access to horizontal functions such as:

S.N App Name Key HighLights Available as part of Licensed Product Remark
HORIZONTAL APPS FOR ALL EMPLOYEES
1 Mobile Approvals
  • Quickly filter approval requests by sender or subject
  • Review at a glance header and line details, action history, and comments
  • Approve or reject with or without comments, or request more information
  • Supports most used approval types in initial release, including expenses, requisitions, purchase orders, recruitment. More approval types to be added

Any Oracle E-Business Suite product

that uses workflow approvals

  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
2 Fusion Mobile Expenses for E-Business Suite
  • Enter expenses via quick entry, direct entry, receipt images, and calendar entries
  • Charge to projects and cost centers
  • Flag policy violations and receipt requirements
  • Download corporate card transactions and edit details
  • Enter mileage expenses
  • Submit expense reports
  • Enter expenses in connected and offline mode
Oracle Internet Expenses
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
3 Mobile Timecards
  • Enter time day-wise for easy time booking
  • Enter time in quick time or regular time modes
  • Support payroll and project based time entry
  • Aggregate day-wise entries into timecard periods
  • Submit timecards
  • View timecard history
Oracle Time and Labor
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
4 Mobile iProcurement
  • Track my requisitions for approval and delivery status
  • View requisition, approvers, lines, and shipments
  • Monitor alerts for rejections, delays, and returns
  • Collaborate in context using device features
Oracle iProcurement
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.

ROLE-BASED LINE OF BUSINESS APPS These role-based line of business applications drive faster business execution and decision making through improved visibility and access to enterprise data and functions

5 Mobile Sales Orders
  • View orders for my customer list
  • Search orders by key attributes
  • View order and line details and status (customer, product, pricing, holds, shipping)
  • Monitor shipment alerts (on hold, backorder)
  • Collaborate in context with device features
Oracle Order Management
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
6 Mobile Inventory
  • Search and barcode scan items and LPNs
  • View on-hand materials and LPNs across facilities
  • Identify loose vs. packed material
  • View existing material reservations
  • Identify material moves in a facility
  • View in-transit and received material
Oracle Inventory Management
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
7 Mobile Product Information
  • Search or scan items
  • Easily access favorite and recently viewed items
  • View product operational and user-defined attributes
  • View product images
  • View suppliers and on-hand quantities in list or map
  • View key transaction metrics, related to SOs, POs, WOs
  • Personalize what information is displayed
  • Collaborate in context using device features

Any Oracle E-Business Suite product that defines or uses Items.

Items are defined in an item master organization to represent products and services you buy, sell, or otherwise transact.

  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
8 Mobile Procurement
  • Track purchase orders requiring attention
  • Search purchase orders based on key attributes
  • View purchase order, approvers, lines, and shipments
  • Monitor alerts for shipment delays
  • Collaborate in context using device features
Oracle Purchasing
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
9 Mobile Project Manager
  • Monitor overall project status in dashboard
  • Contact team members and customer contacts
  • View open payables summary and invoices
  • View open receivables summary and invoices
  • View open issues and change orders
  • Collaborate in context using device features
Oracle Project Costing
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
10 Mobile Discrete Production Supervisor
  • Search or barcode scan work orders to view progress
  • View work order and operations detail
  • Perform quick actions like expedite and add notes
  • View component issue and resources charges
  • Manage exceptions like component shortage
  • Collaborate in context using device features
Oracle Discrete Manufacturing
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
11 Mobile Process Production Supervisor
  • Search batches and steps or barcode scan to view WIP
  • View batch, steps, material, and resource detail
  • Perform quick actions like release and reschedule
  • Manage exceptions like unallocated ingredients
Oracle Process Manufacturing
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
12 Mobile Project Manufacturing
  • Search project inventory by item, project, and task
  • View project on-hand quantities by locator
  • View outstanding project borrow and payback transactions
  • Identify project materials for transfer and borrow/payback
  • Collaborate in context with device features
Oracle Discrete Manufacturing
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
13 Mobile Maintenance
  • View and complete assigned operations
  • Issue materials and charge time to operations
  • View and search work orders and assets
  • View asset summary, work history, and meter readings
  • Record asset meter readings
  • View work request details
  • Create simple work orders and work requests
Oracle Enterprise Asset Management
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.
14 Mobile Field Service
  • View customer, product, service request, and task info
  • View and update tasks
  • Capture materials, time, and expense details
  • Check inventory levels
  • Return, transfer, and request parts
  • Work online or disconnected
  • Synchronize when online
Oracle Mobile Field Service
  • iOS and Android
  • EBS 12.1.3 and 12.2.3 and above
  • No additional costs for licensed users of base products.

For app availability search ‘Oracle EBS America’ on app store

Oracle E-Business Suite mobile applications are extremely easy to use, resulting from a user-centered design process and user experience (UX) design principles based on simplicity, action ability, consistency, and device integration.

Oracle E-Business Suite mobile applications are built using Oracle Mobile Application Framework .

Oracle MAF framework accelerates and simplifies mobile development with the ability to build once and deploy to multiple platforms, providing tight integration with camera and other device services, device-native user experience, and enables end-to-end encryption and security

This framework accelerates and simplifies mobile development with the ability to build once and deploy to multiple platforms, providing tight integration with camera and other device services, device-native user experience, and enables end-to-end encryption and security

  • EBS Mobile Apps Documentation: Note 1641772.1
  • EBS Mobile Apps Administrator's Guide: Note 1642431.1

Posted in Oracle Application, Oracle Order Management, Oracle Payable, Oracle Pricing, Oracle Product, Oracle Purchasing, Technical | No Comments »

Payment Acknowledgement Import : R12.2 out-of-box Feature

Posted on December 4th, 2013 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

Payment acknowledgement processing is widely used in various countries in US and EMEA region where Bank provide the acknowledgement/Confirmation.

If you have some customization in existing EBS , and planning to use R12.2 in near term, you can take advantage of out-of-box feature .

This new functionality that has been added to Oracle Payments that allow you to import payment acknowledgement reports containing payment status for bank received payment files.

A "Payment Acknowledgement" for supplier payments in Oracle Payments/Payables is a file that confirms for the payor that their electronic payment (sent to a payee's bank) was successfully transmitted and received ("acknowledged") by the bank. Therefore, this type of Payment Acknowledgement processing starts after successful transmission of the payment file to the supplier's bank. Once the bank receives the payment file, the process generates the acknowledgement file.

With this Import you can :

  • Map bank acknowledgment codes with system defined acknowledgment codes
  • Import acknowledgment data
  • Import multiple acknowledgments per payment
  • Review acknowledgment details including bank reported errors and status

Remember , Payment acknowledgment is supported only at payment level.

Posted in Oracle Payable, Oracle Payment Module | No Comments »

What’s the difference between perpetual accrual and period end accrual

Posted on July 16th, 2012 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

For perpetual, or on receipt accrual accounting, a receiving transaction automatically creates a receipt accrual journal entry debiting receipt inventory and crediting uninvoiced receipts. After delivery of a receipt to its final destination, the receipt inventory account is cleared and a material account is debited.

For period end accrual, no accounting is created at either material receipt or at delivery to a final destination.

Take a note, Period end accrual applies only to expense items, as inventory items are alwaysaccrued on receipt.

If you use perpetual accrual accounting, you do not need to run the Create Uninvoiced Receipts Accruals process.

For period end accrual accounting, if an invoice for the receipt is not entered by period end, the Create Uninvoiced Receipt Accruals process generates an accrual and transfers the accounting to the general ledger. The reversing journal is created with an incomplete status. You must run Create Accrual Reversal Accounting to change the journal status to Complete and transfer it to the general ledger.

For perpetual accruals, the invoice accounting debits the accrual account and credits the liability account.

For period end accruals, the invoice accounting debits the expense account and credits the liability account.

Why Are These Accrual Processes so Important?

  • Valuable integration control
  • Monitors accuracy of receiving and payables processes
  • Provides a vital barometer over these activities
  • Helps to ensure accurate inventory counts
  • Ultimately affects your profits

Posted in Oracle Payable, Oracle Purchasing | No Comments »

“Refund” Payments Functionality in R12

Posted on December 29th, 2011 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

In previous Post you have seen the functional overview for Refund Functionality in R12. This post will give more insight.

dgreybarrowWHAT IS REFUND

Refund is kind of a single payment to a supplier or customer, usually to reimburse them for:

  • one or more credit/debit memos on their supplier account in Oracle Payables
  • one or more credit/debit memos on their customer account in Oracle Receivables

dgreybarrow SENARIOS ...

In order to understand, presume you want to stop doing Business with a supplier

  • You have an overall $100 credit balance with the supplier,which consists of a Credit Memo of $250 and an unpaid Invoice of $150
  • The supplier sends you a $100 refund for the credit balance.
  • You enter a $100 Refund Payment (a $100 negative payment), and on the Select Invoices window, you select the outstanding invoice and credit memo.

Once you save the Refund Payment, the invoice and credit memo are marked as paid, and you have no outstanding documents for the supplier

dgreybarrowWHAT YOU NEED FOR THIS REFUND

  • You need to do a set up the bank account in which you will deposit the refund. This can be the same bank account you use to make payments.
  • Set up the appropriate cash account and, make sure cash clearing account is setup correctly
  • The Payables documents you select must be in the same currency as the refund currency, and the sum of the documents you select must
    equal the amount of the refund.

dgreybarrowTAKE AWAY

When you have debit/credit memo on a supplier or employee account (generally due to over payments or returns) which cannot be
matched directly to any existing open invoices, the supplier or employee may send you a refund for the memos. In that case, you can record the "refund" against those memo(s) by recording a "refund" type of payment in the Payment Workbench.

  • A Refund payment is a "negative" dollar amount payment issued to record the reimbursement received, and to clear the specified memo(s)
    (and possibly, invoices) from the Aging Report.
  • A Refund Payment can also be used to clear a credit balance on a supplier's or employee's account, and can consist of any combination of
    the following documents, as long as the sum is negative and equals the refund amount:

    • Invoices and/or Expense Reports
    • Debit and/or Credit Memos
  • Refund Payments can also be used to reimburse you for a Prepayment you paid to a supplier or employee that was later determined to be
    unwarranted.

    • If you receive a refund of a Prepayment, enter an invoice and apply the prepayment (if the Prepayment has not already been applied to an invoice),then enter a Debit Memo for the invoice.
    • You can then pay the Debit Memo with the Refund Payment.
  • Paying documents with a Refund Payment marks each selected document as paid, clears them from the Aging Report, and gives you a
    complete supplier/employee transaction history.
  • When you record a refund, Payables debits either your cash or cash clearing account, and credits either your expense or liability account,
    depending on whether you use cash or accrual accounting.
  • You can take discounts on payable documents (invoices/memos) that you mark as paid with a refund.

dgreybarrowVOIDING REFUND

You can void a recorded Refund just as you would any other payment.

  • Query up, then select the Refund in the Payments Workbench window.
  • Choose the Actions button, and use the Void option in the Payment Actions window. You can then re-enter the refund and pay any open
    and applicable invoices/memos or prepayments for the supplier/employee.

Hope this helps you to understand the refund functionlity.

dgreybarrow Suggesting Reading

Posted in Oracle Payable | No Comments »

Refund Functionality in R12

Posted on December 28th, 2011 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

In response to a reader's query here is small note on EBS refund functionality.

dgreybarrow Refund processing for the Supplier and Employee

When a supplier or employee sends a refund for an invoice payment that have made, record the refund can be recorded in Payables. A refund closes out an outstanding credit balance, so you are actually making a negative payment for a credit balance. The credit balance can consist of the outstanding balance of any combination of the following documents, as long as the sum is negative and equals the refund amount:

  • Invoices
  • Debit memos
  • Credit memos
  • Expense report

Paying these documents with a refund records each document as paid, and gives you a complete supplier transaction history.

dgreybarrow Refund processing for the Customer

R12 There are two refund Options Available

  1. Initiation of a customer refund by application of a credit or unapplied cash to a refund receivables activity
  2. Automated refund generation based on credit memos generated by Auto invoice
    • Check refunds
    • Credit card refunds

In R12, the refund process has been automated for non-credit card transactions from Oracle AR module. For credit card transactions, refunds are applied to the same credit cards used on the transactions in Account Receivables. For non-credit card transactions, refunds are processed via AP. Receivables submit the refund request to AP, and in turn AP transacts refunds via Oracle Payments after gong through the approval process. To view the status of the refund, one can select the button "Refund Status" off the Receipt Application window which brings to the AP workbench. Following are the Refund process generated at receivable and then pass to payable to further processing and payment
Refund Processing

Those who does not use Oracle AR as receivable, the refund data with customer basic information are fed into the Payable invoice where Customer will be created as one time supplier with minimum setup and check will be generated against the invoices created from refund data.

In case if you need some more thoughts on setup and steps , drop me offline

Posted in Oracle Payable, Oracle Receivable | No Comments »

Procurement Cards – Reaching the Potential within ERP

Posted on August 30th, 2011 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

The procurement card, or P-card, is a form of company credit card that is issued to employees who can then purchase goods and services without having to process the purchase through a traditional purchasing procedure, such as using purchasing requisitions and purchase orders.

dgreybarrow Types of Commercial Cards

P-Cards are just one type of Commercial Card. Other Commercial Card comes with different name include the following. Each is intended to address different types of purchases and/or spend categories.

  • Corporate Card – commonly used by organizations for employee travel and entertainment (T&E) expenses; also referred to as a Travel Card
  • One Card – a single charge card that combines procurement with T&E and, in some cases, fleet and phone charges
  • Fleet Card – a card product used by organizations to pay for fuel, maintenance, repair and related expenses on company vehicles
  • Prepaid Card – debit-based card, allowing the user to pay now versus later, as the card transaction amounts are deducted from a funded account; for example, a Payroll Card "loaded" with an employee's earned wages
  • Business Card – a credit card targeted for smaller businesses (in lieu of a P-Card), commonly used for a variety of expense types (e.g., goods, services, travel, etc.)
  • Supplier P-cards: Supplier P-cards (or Ghost Cards) are another way for companies to incorporate electronic payment and settlement procedures in order to streamline their procure-to-pay processes. Instead of having to maintain a separate employee p-card for each requester in the company and each requester having to use his/her own employee p-card to make purchases, companies can maintain a single supplier p-card for each supplier/supplier site in the system, and consolidate all purchases from that supplier/supplier site on the single supplier p-card.

dgreybarrowProcurement Card Pros & Cons

Advantages/Pros:

  • Procurement cards reduce the cycle time of purchasing transactions
  • Procurement cards can improve supplier relations as suppliers receive payment within 2-5 days
  • Procurement cards can reduce the number of supplier invoices, which could lead to a reduction in expenses on accounts payable personnel
  • With proper controls, procurement cards can restrict maverick buying as well as buying non-authorized categories of goods and services
  • Procurement card programs foster a feeling of empowerment among employees

Disadvantages/Cons:

  • Procurement card use exposes the organization to the potential for undetected credit card fraud and identity theft, which can result in lost money
  • Procurement cards generally don’t provide the same level of budget visibility as an ERP system does
  • Multiple ways of placing orders (e.g., Pcard, eProcurement, ERP, requisitions, etc.) can confuse requisitioners who may not know the proper method for each type of purchase
  • Procurement card spend data may not be integrated with other purchase data, resulting in incomplete information when conducting spend analysis

dgreybarrow P-Card in EBS

Within Oracle Applications, the Procurement Card Process to pay the supplier without compromising data security. This functionality can be used by any organization willing to pay the expenses of purchased goods from suppliers as well as service used by the individuals for company purpose.

Apart from that, the usage of P-card can be extended to pay suppliers that are currently in the process of self-billing. This process is new to oracle iExpense module but have great creditability and performance to its usage.

The card transaction files are received from the card issuer and then uploading into specified location of oracle server. Next upload these data into oracle interface table AP_EXPNESE_FEED_LINES_ALL. Then run the following oracle program from payables responsibility to generate the invoice. Once loaded, Oracle standard program will validate the transactions and generate distribution lines. Depending on the setup, users can verify the transactions as well as approve and invoice will be imported into AP through standard process which will execute sequentially as below:

  1. Procurement card Transaction Validation Program
  2. Procurement card Transaction Verification Program
  3. Procurement Card Transactions Approval Process
  4. Create Procurement card Issuer Invoice
  5. Payables Open Interface Import

PurchasingCard

In After successful execution of Procurement card Transaction Verification Program user can only change the distribution account and can validate the specific transactions. System have the provision to send notification for verification of transaction to the respective employee-manager hierarchy. The invoices are generated in payables with source as Procurement card .The payment can be made through Oracle standard payment process either with check or electronic payment.

Within Oracle ERP technology the functionality to store the sensitive information in system is compliant to PCI-DSS. This process is technically known as Encryption Process. Oracle standard single key encryption algorithm is used to store the sensitive data like credit card number, bank account number.

Posted in Oracle Payable | No Comments »

Global Withholding

Posted on August 18th, 2011 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

In the UK, Spain, France, Australia, Singapore, and many other countries, when an invoice is paid, a certain part of the payment is deducted and paid to the tax authorities as a withholding tax.

The global withholding architecture in any accounting appliction should provides functionality to meet the majority of processing and reporting requirements worldwide.

It Required various methods of calculating and reporting like :

  • Statement of basis amount subject to Withholding by vendor/class – No Withholding per say and no accounting (Belgium, France).
  • Percentage calculation, accounting and reporting (UK, Spain).
  • Mixed mode of the two previous methods (Canada).
  • Tier-based withholding percentage (Argentina, Japan)
  • Additional withholding surcharges (India)
  • Period-based withholding calculation with recalculation when it exceeds the threshold limit.
  • Jurisdiction-dependent withholding percentage
  • Withholding calculation based on relationship between business unit and vendor
  • Ability to exonerate a vendor from withholding on a percentage basis.

Posted in Oracle Payable | No Comments »

iExpense, Corporate Cards , PCI Compliance – whatelse !

Posted on August 11th, 2011 by Sanjit Anand |Print This Post Print This Post |Email This Post Email This Post

This is another set of question asked by one of the reader in response of my previous post. For those companies using Oracle Internet Expense or similar application and enabled corporate card then might have to address PCI concerns, probably this post will be great help.

Does PCI DSS applicable to my client?

  • If using corporate credit cards used by employees for company purchases like travel or office supplies
  • The expense management is been used by iexpense or similar application.

The PCI DSS standard applies to all entities that store, process or transmit cardholder data. You can understood as these standard does equally apply to manual processing and storage of cardholder information as well as to electronic methods of storage. If you revisit the points mention in last post you can find with comments in blue.

According to the PCI DSS has six control objectives that are broken up into 12 high-level requirements:

  • Build and Maintain a Secure Network.
    • Requirement 1: Install and maintain a firewall configuration to protect cardholder data.
      • You can just have a internal control in order to manage this.
    • Requirement 2: Do not use vendor-supplied defaults for system passwords and other security Parameter
      • Oracle locks and expires default accounts and passwords during installation.Passwords for administration accounts are prompted for during installation .
  • Protect Cardholder Data.
    • Requirement 3: Protect stored cardholder data.
      • Data stored in Oracle Applications is encrypted for protection .
    • Requirement 4: Encrypt transmission of cardholder data across open, public networks.
      • You work with your development or DBA team , probably they confirm that the Credit Card provider’s FTP site is secure and transmissions from that site remain encrypted in transit.
  • Maintain a Vulnerability Management Program.
    • Requirement 5: Use and regularly update anti-virus software.
      • You can have a internal control in order to manage this.
    • Requirement 6: Develop and maintain secure systems and applications.
      • Oracle Applications is PCI-DSS compliant
  • Implement Strong Access Control Measures.
    • Requirement 7: Restrict access to cardholder data by business need-to-know.
      • You can just have a internal control in order to manage this.Oracle Applications standard security functions provide unique individual user accounts with specific responsibilities and accesses to control access to sensitive data
    • Requirement 8: Assign a unique ID to each person with computer access.
      • You can just have a internal control in order to manage this
    • Requirement 9: Restrict physical access to cardholder data.
      • You can just have a internal control in order to manage this.
  • Regularly Monitor and Test Networks.
    • Requirement 10: Track and monitor all access to network resources and cardholder data.
      • You can just have a internal control in order to manage this.Oracle Applications provide standard functionality to monitor users and review their activity history.
    • Requirement 11: Regularly test security systems and processes.
      • You can just have a internal control in order to manage this.
  • Maintain an Information Security Policy.
    • Requirement 12: Maintain a policy that addresses information security.
      • You can just have a internal control in order to manage this.

dgreybarrow Similar Post

Posted in Oracle Payable | No Comments »

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