Industry-leading tax, legal and regulatory team secures accreditation for PeopleSoft Global Payroll and SAP HCM Payroll ensuring clients remain compliant with changing regulations
LAS VEGAS, September 19, 2018 – Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced it has obtained Single Touch Payroll (STP) certification by the Australian Government's Australian Taxation Office (ATO) for PeopleSoft Global Payroll and SAP HCM Payroll. The new certification enables Rimini Street's Australian clients to submit their payroll data via a 'pay event,' either on or before pay day, to the ATO. Rimini Street's tax, legal and regulatory division passed the complex, rigorous qualification process with the first file submission for both PeopleSoft and SAP software products, well ahead of the deadline set by the ATO.
Premium Service Support for Critical Certification Process
All organizations with 20 or more employees are required to report under STP to stay compliant with the Australian Taxation Legislation. The aim of STP is to streamline employer payroll information reporting to the ATO. The change requires companies to report payments such as salaries and wages, pay as you go (PAYG) withholding, and superannuation information from their payroll solution each time an organization pays its employees, rather than at the end of each financial year.
"With the Australian Taxation Office mandating new Single Touch Payroll reporting requirements, we needed to ensure that our systems were fully compliant," said John Brizee, SAP manager at Golding Contractors. "Rimini Street provided the STP update for our SAP payroll application. The update was installed, tested, and ready-to-go well in advance of the ATO's deadline of July 1, 2018."
Rimini Street put a comprehensive process in place eighteen months prior to the July 1, 2018 deadline to begin preparing clients for this new reporting standard. The Company achieved STP certification for PeopleSoft software products in May 2018 and for SAP related products in June 2018 by completing three main verification steps set by the ATO – an in depth security questionnaire, execution of the ATO's conformance test suite and lastly, product verification testing.
"STP is the largest change to Australian payroll in recent history," said Paul Henville, group vice president, Global Product Delivery. "By obtaining the STP certification for our PeopleSoft and SAP clients, we can ensure their systems are supported and compliant for this monumental shift in payroll reporting. This is just one example of how Rimini Street remains diligent, proactive and on the forefront of constantly changing tax, legal and regulatory requirements; STP in particular was one of the most complex requirements we have had to undertake, which we were able to complete ahead of the original software vendors."
To review the list of vendors certified for STP, visit http://www.sbr.gov.au/products-register/sbr-product-register-full-list
Industry-Leading Tax, Legal & Regulatory Research and Technology
Rimini Street's tax, legal and regulatory strategy and scoping team is made up of veteran tax specialists, attorneys and international tax, legal and regulatory professionals who use advanced technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes.
Rimini Street also participates in, and is a member of, many prominent tax, legal and regulatory associations around the world, including the American, Canadian, United Kingdom and Australian Payroll Associations, the American Bar Association Section of Taxation, the Financial Executives International Association, the Tax Council and the Tax Executives Institute. The innovative combination of technology, proven methodology and ISO 9001 quality processes consistently assures a fast "legislature-to-live"SM update delivery cycle and the highest quality deliverables in the industry.