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How PeopleSoft Products can Benefit your Business

APRIL 16, 2022 05:30 AM

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.

Explore How PeopleSoft Products can Benefit your Business

PeopleSoft Products - Get the Most Out of your Investment

PeopleSoft applications through Oracle allow your organization to enhance operations by enabling prediction of the workforce, financial planning, supplier management, cost control, management of the workforce, etc..; this powerful suite of tools reduces your 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 for companies to streamline their business processes.

1. 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 that helps you improve your people, processes, and systems to achieve your business goals.

Key Features:

  1. Absence Management
  2. Compensation
  3. Directory Interface
  4. Helpdesk for HR
  5. Human Resources
  6. Global Payroll
  7. Performance Management
  8. Recruiting Solutions
  9. Time and Labor

2. Financial Management - Financial Management tools of PeopleSoft offer best practices to achieve top-notch finance processes by applying financial rigor and regulatory compliance consistently. Apparently, the app delivers greater visibility into business-critical data to manage financial processes.

Key Features:

  1. Supplier Contract Management
  2. Strategic Sourcing
  3. Supply Planning
  4. Cash Management
  5. Contracts
  6. Expenses
  7. Asset Management
  8. Cost Management
  9. Inventory
  10. Order Management
  11. Purchasing
  12. Project Costing
  13. Resource Management
  14. Risk Management

3. Procurement - This tool is basically a combined suite of all procurement applications for managing external workers and service providers that can drastically reduce your supply management costs. It reduces overall spend on goods and services, organizes procurement processes, and steers policy compliance that drastically reduces supply management costs.

Key features:

  1. Services Management
  2. Services Settlement
  3. Approval Workflow Framework
  4. Integration Across the Global Enterprise
  5. Comprehensive Analytics

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

Key features:

  1. Project requests
  2. Business units
  3. Scorecards
  4. Strategy components
  5. Key performance indicators
  6. Portfolios

5. Asset Lifecycle Management - This tool allows to create accounting entries and manage financial reporting for enterprise which needs to maintain and track a large number of fixed assets.

Key features:

  1. Procurement
  2. Deployment
  3. Maintenance
  4. Update
  5. Retirement
  6. Analysis

6. Orders and Inventory Management - This tool provides the information from real-time visibility into your inventory to order status information and enables organizations to increase inventory accuracy and customer service levels.

Key features:

  1. Receiving and Putaway
  2. Par inventory management
  3. Stock request creation
  4. Material reservations
  5. Consigned inventory management
  6. Replenishment
  7. Material usage and reconciliation
  8. Physical accounting
  9. Picking
  10. Shipping

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

Key features:

  1. Campus Community
  2. Recruiting and Admissions
  3. Student Records
  4. Academic Advisement
  5. Financial Aid
  6. Student Financials
  7. Contributor Relations
  8. Campus Self Service

8. PeopleTools and Technology - PeopleSoft provides an all-inclusive development toolset that contains over 40 tools. With the toolset, application developers can build and customize the applications quickly and easily according to the following functional areas.

  1. Administration Tools
  2. Development Tools
  3. Integration Tools
  4. Analytic Tools
  5. Lifecycle Management Tools

What should you know about 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:

  1. The technicalities in PeopleSoft training and how it needs to be done on new technology
  2. How the upgrading can impact the operating system
  3. Any compatibility challenges
  4. Information about storage area networks and database engines

Benefits - It can be a turning point for your business

Lots of innovative features are offered by the upgrade, revealing the new form of capabilities in the total product suite that provides a simple intuitive user experience available on both PC and mobile platforms. With PeopleSoft Support Services, you will also receive analytics that is improved and simplified.

If you are considering the PeopleSoft Upgrade Services, it is challenging and time-consuming for you to accomplish it all from having to investigate governance and rules. PeopleSoft Managed Services providers can save your overall costs, enhance productivity, and drastically improve customer engagement so that your business's investment can be maximized.

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.