How PeopleSoft Products Can Benefit Your Business

APRIL 16, 2022 05:30 AM

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Oracle acquired PeopleSoft, a business unit of Oracle Corp. (Oracle), in 2005 with the determination to rewrite, modernize, and expand PeopleSoft's solutions to serve a more extensive customer base and better meet the needs of a diverse workforce from mid-sized users to the largest enterprises. The acquisition combined PeopleSoft's specialized data management capabilities with Oracle's database, enterprise resource planning (ERP), and other strategic applications.

PeopleSoft Products - Get the Most Out of Your Investment

PeopleSoft applications through Oracle allow your organization to enhance operations by enabling workforce prediction, financial planning, supplier management, cost control, workforce management, and more. This powerful suite of tools reduces overall cost, boosts productivity, and radically transforms user engagement with a simple implementation.

Let's learn about the different PeopleSoft Products and how they are designed to streamline companies' business processes.

Human Capital Management (HCM)

PeopleSoft HCM is a comprehensive HR software system that helps organizations manage employee and human resource functions more effectively. Its functionalities help you maximize the return on your investment by providing a single, integrated platform for improving your people, processes, and systems to achieve your business goals.

Key Features:

Absence Management
Compensation
Directory Interface
Helpdesk for HR
Human Resources
Global Payroll
Performance Management
Recruiting Solutions
Time and Labor

Financial Management

PeopleSoft's Financial Management tools offer best practices for achieving top-notch finance processes by consistently applying financial rigor and regulatory compliance. The app delivers greater visibility into business-critical data to manage financial processes.

Key Features:

Supplier Contract Management
Strategic Sourcing
Supply Planning
Cash Management
Contracts
Expenses
Asset Management
Cost Management
Inventory
Order Management
Purchasing
Project Costing
Resource Management
Risk Management

Procurement

This tool combines all procurement applications for managing external workers and service providers. It can drastically reduce supply management costs by reducing overall spending on goods and services, organizing procurement processes, and steering policy compliance.

Key features:

Services Management
Services Settlement
Approval Workflow Framework
Integration Across the Global Enterprise
Comprehensive Analytics

Project Portfolio Management

This tool helps organizations evaluate and collaborate with business leaders to make the right business decisions, prioritize initiatives based on financial and strategic goals, and forecast available funds for companies looking to invest in new projects.

Key features:

Project requests
Business units
Scorecards
Strategy components
Key performance indicators
Portfolios

Asset Lifecycle Management

This tool allows users to create accounting entries and manage financial reporting for enterprises that need to maintain and track many fixed assets.

Key features:

Procurement
Deployment
Maintenance
Update
Retirement
Analysis

Orders and Inventory Management

This tool provides information ranging from real-time visibility into your inventory to order status information. It enables organizations to increase inventory accuracy and customer service levels.

Key features:

Receiving and Putaway
Par inventory management
Stock request creation
Material reservations
Consigned inventory management
Replenishment
Material usage and reconciliation
Physical accounting
Picking
Shipping

Campus Solutions

Designed specifically for the changing needs of higher education institutions. To provide a better campus data management system for any complex requirements of colleges and universities.

Key features:

Campus Community
Recruiting and Admissions
Student Records
Academic Advisement
Financial Aid
Student Financials
Contributor Relations
Campus Self Service

PeopleTools and Technology

PeopleSoft provides an all-inclusive development toolset with over 40 tools. With the toolset, application developers can build and customize applications quickly and efficiently according to the following functional areas.

Administration Tools
Development Tools
Integration Tools
Analytic Tools
Lifecycle Management Tools

What should you know about the PeopleSoft 9.2 upgrade?

Oracle has announced its full support for PeopleSoft till 2033. PeopleSoft Support Services helps you to know about the impact on the entire enterprise architecture so that you can understand:

The technicalities in PeopleSoft training and how it needs to be done on new technology
How the upgrading can impact the operating system
Any compatibility challenges
Information about storage area networks and database engines
Benefits - It can be a turning point for your business

The upgrade offers many innovative features, revealing new capabilities in the total product suite that provide a simple, intuitive user experience on both PC and mobile platforms. With PeopleSoft Support Services, you will also receive improved and simplified analytics.

FAQs

What are the primary areas covered by PeopleSoft applications?
PeopleSoft offers a wide range of applications designed to streamline various business processes. Key areas include Human Capital Management (HCM), Financial Management, Procurement, Project Portfolio Management, Asset Lifecycle Management, Orders and Inventory Management, and Campus Solutions for higher education institutions. Additionally, PeopleSoft includes PeopleTools and Technology for developing and customizing these applications.
How can PeopleSoft's Human Capital Management (HCM) benefit an organization?
PeopleSoft HCM helps organizations manage employee and HR functions more effectively, providing an integrated platform to improve people, processes, and systems. Key features include Absence Management, Compensation, a Directory Interface, a Helpdesk for HR, Core Human Resources, Global Payroll, Performance Management, Recruiting Solutions, and Time and Labor. This suite of tools aims to maximize the return on investment in human capital.
What are some of the key capabilities within PeopleSoft's Financial Management suite?
PeopleSoft's Financial Management tools are designed to streamline financial processes by ensuring consistent financial rigor and regulatory compliance. These tools provide greater visibility into business-critical data for managing various financial processes. Key features include Supplier Contract Management, Strategic Sourcing, Supply Planning, Cash Management, Contracts, Expenses, Asset Management, Cost Management, Inventory, Order Management, Purchasing, Project Costing, Resource Management, and Risk Management.
How does PeopleSoft's Procurement solution help organizations manage their supply chain?
PeopleSoft's Procurement suite offers tools for managing external workers and service providers to reduce supply management costs. This solution streamlines procurement processes, ensures policy compliance, and provides analytics. Key features include Services Management, Services Settlement, an Approval Workflow Framework, integration across the global enterprise, and comprehensive analytics.
What is the significance of the PeopleSoft 9.2 upgrade?
The PeopleSoft 9.2 upgrade introduces innovative features, a simplified user experience on both PC and mobile platforms, and improved analytics. Oracle's full support for PeopleSoft extends to 2033, making the upgrade beneficial for organizations. It can be a turning point for business and may involve navigating technical complexities and assessing the impact on systems and databases. Managed Service providers can assist in upgrading to maximize business investment.

Considering PeopleSoft Upgrade Services, accomplishing everything can be challenging and time-consuming, especially since you have to investigate governance and rules. PeopleSoft Managed Services providers can save overall costs, enhance productivity, and drastically improve customer engagement to maximize your business's investment.

About SMACT Works

SMACT Works is a technology-focused systems integrator and IT/ERP consulting firm. We deliver end-to-end consulting, managed, and implementation services for Oracle Cloud Applications, IaaS & PaaS, On-Premise PeopleSoft & EBS Applications. Headquartered in Dublin, OH, we have a global presence with North America and Asia offices. We are an Oracle Gold Partner Cloud Standard, ISO 9001, and 27001 certified delivery organization serving customers with Excellence and Integrity.