Recently, on May 28, PeopleSoft announced the general availability of PeopleSoft eSettlements, an integrated, comprehensive solution for electronic invoice presentation and payment (EIPP) for global enterprises. As a part of PeopleSoft's Financial Management Solutions, the application was devised to optimize the source-to-settle' process by providing a common platform for buyers and sellers to exchange and match transactions, such as purchase orders, receipts, and invoices.
For many companies, the settlements process is still primarily manual and paper driven and essentially one-way, resulting in expensive, inefficient, and error prone business processes. With PeopleSoft's eSettlements, companies would receive invoices electronically, send alerts and notifications, and resolve disputes online. In addition, buyers are able to extend their procurement and payment rules, such as matching and payment selection criteria, whereas sellers can improve customer relationships and reduce days of sales outstanding (DSO) through on-line tracking and resolution of payment issues. The result should consequently be lower costs, shorter cycle times, fewer errors, and higher productivity.
On May 14, PeopleSoft announced the general availability of PeopleSoft Enterprise Service Automation (ESA) 8.4. The product reportedly continues to gain strong market acceptance, with more than 180 customers licensing the product since its introduction in Q3 2001. PeopleSoft ESA was devised to provide real-time visibility and control to manage spending on services as well as internal projects to reduce costs associated with securing contractors and managing resources, and streamlining the execution of projects across the enterprise. The release of PeopleSoft ESA 8.4 includes new functionality especially designed to meet the unique requirements of global customers and customers in the public sector. To that end, the key functionality to meet the specific needs of the Education and Government sector includes commitment control, fund accounting and services procurement.
As for Global Customers, PeopleSoft ESA 8.4 introduces European country-specific functionality. The solution now supports Value Added Tax (VAT) in Contracts and European Expenses, including Per Diem, Mileage Reimbursement, and VAT configuration by expense type and country. This new functionality should increase efficiencies for global organizations that operate and manage projects across multiple countries.
In addition, PeopleSoft ESA 8.4 delivers expanded integration with Microsoft Project 2002 to provide enhanced project control functionality that includes project level budgeting, work breakdown structure (WBS) support and activity level integration. PeopleSoft ESA includes the following applications: Services Procurement; Resource Management; Contracts; Projects; Expenses; Mobile Time and Expense; Mobile Time and Expense - Palm and Travel.
Further, at the PeopleSoft Leadership Summit 2002 at the end of April, PeopleSoft unveiled a number of new applications that should extend its already broad applications portfolio. First of all, building on 14 years of leadership in the human resources management systems (HRMS) industry, the company announced touted breakthrough Human Capital Management (HCM) solutions that should align and leverage workforce contribution with corporate objectives. PeopleSoft announced three new modules with a view towards extending its proverbial lead in the HRMS industry providing solutions from managing traditional HR and payroll, to connecting employees and managers through self-service. PeopleSoft's new HCM solutions include:
* PeopleSoft Sales Incentive Management (SIM) should enable organizations to design and implement incentive plans that align sales force behavior with enterprise objectives in real time. The solution should also reduce the complexity and repetitive, error-prone nature of today's incentive compensation systtems, as the entire sales incentive process from planning through payment will be provided online.
* PeopleSoft Performance Management should enable a company to overlay and enforce corporate objectives all the way from the boardroom to the storeroom, as every employee can be aligned with the management by objectives (MBO's) of the company, and any employee not aligned can be easily identified to ensure that valuable resources are not wasted.
* PeopleSoft Enterprise Learning Management should enable organizations to dynamically deliver training where it is needed, both inside and outside the enterprise, with learning systems being integrated with both performance and incentive management applications.
Following up on this strategy, on June 11, PeopleSoft announced Enterprise Incentive Management (EIM), a product suite to be included in the above-introduced HCM solutions. PeopleSoft's EIM suite will also provide organizations with the capability to model, manage, communicate, and measure incentive compensation in alignment with specific business objectives across departmental boundaries. PeopleSoft Sales Incentive Management (SIM) is the first product to be introduced in the EIM suite.
Also during the same event, PeopleSoft announced that organizations around the world are rapidly adopting its Supply Chain Management (SCM) solution, which includes Supplier Relationship Management (SRM), Manufacturing, Supply Chain Planning (SCP), Customer Fulfillment Management and PeopleSoft Supply Chain Analytics solutions, and provides more than 450 embedded performance indicators for the management of real-time business processes. During the first quarter of 2002, more than 50 organizations reportedly went live on PeopleSoft SCM. The company also announced the general availability of two new supply chain solutions, Strategic Sourcing and Trading Partner Management (TPM).
With the announcement of PeopleSoft Strategic Sourcing, PeopleSoft claims to offer the only solution that manages the entire source-to-settle process for all goods and services, as companies can directly generate contracts and purchase orders from bid evaluation screens, and thereby significantly reduce processing time. In addition, with PeopleSoft Strategic Sourcing, companies should identify and measure suppliers on numerous criteria driving more profitable supplier relationships. PeopleSoft Trading Partner Management (TPM) provides a unified interface to manage any type of electronic trading relationship. Companies can choose from multiple communication methods, including FAX, EDI, XML, Portal or Web Services, which should enable them to remove barriers associated with supplier enablement.
Additionally, PeopleSoft announced the general availability of its next generation Enterprise Portal. PeopleSoft believes it has raised the bar for enterprise portal solutions with functionality such as Intelligent Context Manager and Web Services integration. Intelligent Context Manager proactively prompts users with relevant information when they initiate transactions within the portal. Information is automatically displayed enabling users to navigate through the business process in an informed manner.
For example, using a traditional portal approach, an accounts payable clerk would see that a customer is overdue on a payment. The clerk would typically send the account to a collections department or agency -- never knowing there is a large sales opportunity in the pipeline from the same delinquent payer. With Intelligent Context Manager, the clerk is directly notified of the sales opportunity at the same time he or she is accessing the receivables information.
PeopleSoft also touts to be the only enterprise portal vendor to utilize Web Services standards as its primary integration method, as the Enterprise Portal enables customers to directly syndicate Web Services content into the portal, with a prospect of reducing costly programming and maintenance, and lowering the total cost of ownership (TCO).
Last but not least, PeopleSoft announced new industry solutions for Customer Relationship Management (CRM), expected to be available later this year. In addition to existing solutions for Financial Services and Communications, PeopleSoft announced CRM solutions for Government, Insurance, Energy and High Technology.
* PeopleSoft CRM for Government should give government organizations the ability to provide fast, effective service through multiple channels. For example, state and local governments will have the capability now to be able to: manage non-emergency "311" communication between government organizations and their constituents; automatically assign constituent inquiries to the right department; graphically display the location of reported problems and work crews; and reduce administration costs by providing self-service access to online support services.
* PeopleSoft CRM for Insurance should deliver functionality to manage all lines of insurance including property and casualty, life and health. The solution will model insurance policy relationships, providing a comprehensive view of a customer's insurance portfolio — from claim to billing to payment, while self-service capabilities will give customers online access to product information, policy quick quotes and the ability to file claims in real time.
* PeopleSoft CRM for Energy should provide a comprehensive solution designed specifically for energy retailers and distributors. The functionality will include: premise management support to administer service points and assets; service management support for move and transfer of service transactions; tracking and resolution of power outages, gas leaks and other emergency and non-emergency services; comprehensive account billing and management functionality; and loyalty and retention analysis for up-selling and cross-selling products and services.
For many companies, the settlements process is still primarily manual and paper driven and essentially one-way, resulting in expensive, inefficient, and error prone business processes. With PeopleSoft's eSettlements, companies would receive invoices electronically, send alerts and notifications, and resolve disputes online. In addition, buyers are able to extend their procurement and payment rules, such as matching and payment selection criteria, whereas sellers can improve customer relationships and reduce days of sales outstanding (DSO) through on-line tracking and resolution of payment issues. The result should consequently be lower costs, shorter cycle times, fewer errors, and higher productivity.
On May 14, PeopleSoft announced the general availability of PeopleSoft Enterprise Service Automation (ESA) 8.4. The product reportedly continues to gain strong market acceptance, with more than 180 customers licensing the product since its introduction in Q3 2001. PeopleSoft ESA was devised to provide real-time visibility and control to manage spending on services as well as internal projects to reduce costs associated with securing contractors and managing resources, and streamlining the execution of projects across the enterprise. The release of PeopleSoft ESA 8.4 includes new functionality especially designed to meet the unique requirements of global customers and customers in the public sector. To that end, the key functionality to meet the specific needs of the Education and Government sector includes commitment control, fund accounting and services procurement.
As for Global Customers, PeopleSoft ESA 8.4 introduces European country-specific functionality. The solution now supports Value Added Tax (VAT) in Contracts and European Expenses, including Per Diem, Mileage Reimbursement, and VAT configuration by expense type and country. This new functionality should increase efficiencies for global organizations that operate and manage projects across multiple countries.
In addition, PeopleSoft ESA 8.4 delivers expanded integration with Microsoft Project 2002 to provide enhanced project control functionality that includes project level budgeting, work breakdown structure (WBS) support and activity level integration. PeopleSoft ESA includes the following applications: Services Procurement; Resource Management; Contracts; Projects; Expenses; Mobile Time and Expense; Mobile Time and Expense - Palm and Travel.
Further, at the PeopleSoft Leadership Summit 2002 at the end of April, PeopleSoft unveiled a number of new applications that should extend its already broad applications portfolio. First of all, building on 14 years of leadership in the human resources management systems (HRMS) industry, the company announced touted breakthrough Human Capital Management (HCM) solutions that should align and leverage workforce contribution with corporate objectives. PeopleSoft announced three new modules with a view towards extending its proverbial lead in the HRMS industry providing solutions from managing traditional HR and payroll, to connecting employees and managers through self-service. PeopleSoft's new HCM solutions include:
* PeopleSoft Sales Incentive Management (SIM) should enable organizations to design and implement incentive plans that align sales force behavior with enterprise objectives in real time. The solution should also reduce the complexity and repetitive, error-prone nature of today's incentive compensation systtems, as the entire sales incentive process from planning through payment will be provided online.
* PeopleSoft Performance Management should enable a company to overlay and enforce corporate objectives all the way from the boardroom to the storeroom, as every employee can be aligned with the management by objectives (MBO's) of the company, and any employee not aligned can be easily identified to ensure that valuable resources are not wasted.
* PeopleSoft Enterprise Learning Management should enable organizations to dynamically deliver training where it is needed, both inside and outside the enterprise, with learning systems being integrated with both performance and incentive management applications.
Following up on this strategy, on June 11, PeopleSoft announced Enterprise Incentive Management (EIM), a product suite to be included in the above-introduced HCM solutions. PeopleSoft's EIM suite will also provide organizations with the capability to model, manage, communicate, and measure incentive compensation in alignment with specific business objectives across departmental boundaries. PeopleSoft Sales Incentive Management (SIM) is the first product to be introduced in the EIM suite.
Also during the same event, PeopleSoft announced that organizations around the world are rapidly adopting its Supply Chain Management (SCM) solution, which includes Supplier Relationship Management (SRM), Manufacturing, Supply Chain Planning (SCP), Customer Fulfillment Management and PeopleSoft Supply Chain Analytics solutions, and provides more than 450 embedded performance indicators for the management of real-time business processes. During the first quarter of 2002, more than 50 organizations reportedly went live on PeopleSoft SCM. The company also announced the general availability of two new supply chain solutions, Strategic Sourcing and Trading Partner Management (TPM).
With the announcement of PeopleSoft Strategic Sourcing, PeopleSoft claims to offer the only solution that manages the entire source-to-settle process for all goods and services, as companies can directly generate contracts and purchase orders from bid evaluation screens, and thereby significantly reduce processing time. In addition, with PeopleSoft Strategic Sourcing, companies should identify and measure suppliers on numerous criteria driving more profitable supplier relationships. PeopleSoft Trading Partner Management (TPM) provides a unified interface to manage any type of electronic trading relationship. Companies can choose from multiple communication methods, including FAX, EDI, XML, Portal or Web Services, which should enable them to remove barriers associated with supplier enablement.
Additionally, PeopleSoft announced the general availability of its next generation Enterprise Portal. PeopleSoft believes it has raised the bar for enterprise portal solutions with functionality such as Intelligent Context Manager and Web Services integration. Intelligent Context Manager proactively prompts users with relevant information when they initiate transactions within the portal. Information is automatically displayed enabling users to navigate through the business process in an informed manner.
For example, using a traditional portal approach, an accounts payable clerk would see that a customer is overdue on a payment. The clerk would typically send the account to a collections department or agency -- never knowing there is a large sales opportunity in the pipeline from the same delinquent payer. With Intelligent Context Manager, the clerk is directly notified of the sales opportunity at the same time he or she is accessing the receivables information.
PeopleSoft also touts to be the only enterprise portal vendor to utilize Web Services standards as its primary integration method, as the Enterprise Portal enables customers to directly syndicate Web Services content into the portal, with a prospect of reducing costly programming and maintenance, and lowering the total cost of ownership (TCO).
Last but not least, PeopleSoft announced new industry solutions for Customer Relationship Management (CRM), expected to be available later this year. In addition to existing solutions for Financial Services and Communications, PeopleSoft announced CRM solutions for Government, Insurance, Energy and High Technology.
* PeopleSoft CRM for Government should give government organizations the ability to provide fast, effective service through multiple channels. For example, state and local governments will have the capability now to be able to: manage non-emergency "311" communication between government organizations and their constituents; automatically assign constituent inquiries to the right department; graphically display the location of reported problems and work crews; and reduce administration costs by providing self-service access to online support services.
* PeopleSoft CRM for Insurance should deliver functionality to manage all lines of insurance including property and casualty, life and health. The solution will model insurance policy relationships, providing a comprehensive view of a customer's insurance portfolio — from claim to billing to payment, while self-service capabilities will give customers online access to product information, policy quick quotes and the ability to file claims in real time.
* PeopleSoft CRM for Energy should provide a comprehensive solution designed specifically for energy retailers and distributors. The functionality will include: premise management support to administer service points and assets; service management support for move and transfer of service transactions; tracking and resolution of power outages, gas leaks and other emergency and non-emergency services; comprehensive account billing and management functionality; and loyalty and retention analysis for up-selling and cross-selling products and services.
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