List of Required Modifications
Now that you've assessed the costs of configuration, acquired a deep understanding of Payroll for North America system capabilities, used the vanilla system extensively both with the DEMO data and your own test cases and thoroughly examined your requirements—you are in a position to come up with a list of required modifications. What remains should consist of changes you absolutely have to make to the Payroll for North America system to make it acceptable for production.
After you've come up with such a list, separate it into two parts:
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Changes that can be addressed through business re-engineering.
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Changes that require configuration of the PeopleSoft system.
Examine your list very carefully with the goal of having an absolute minimum of changes that require configuration.