Venezuela currency change impact on the Oracle HCM Cloud configuration.

Summary:

Venezuela currency change impact on the Oracle HCM Cloud configuration

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Hi experts,

Our company has a presence in Venezuela.

Venezuela introduces a new currency with 6 fewer zeros.

I would like to know the impact on the current LE configuration.

We definitely have to take action on this.

Could I ask you to share any knowledge on similar cases?

I see the following steps to be configured in the system:

1. Create a new currency 

2. Create a new LDG

3. Create a new legal employer

4. Create new elements, grade rates, salary basis

5. Load employees data into a new LE (maybe initiate a global transfer)