Accounting and Financial Software
Financial Management Software improves business processes.
Press Release Summary:
PeopleSoft Enterprise Financial Management v9 provides solution for financial accounting, asset lifecycle management, and enterprise service automation applications, while PeopleSoft Enterprise Internal Controls Enforcer enables users to automate and enforce internal controls required under Section 404 of Sarbanes-Oxley. Both applications help companies gain visibility into business-critical information and strengthen financial discipline.
Original Press Release:
Oracle Delivers PeopleSoft Enterprise Financial Management 9
Latest Release Leverages Next Generation Technologies to Provide More Choices to Customers
REDWOOD SHORES, Calif., Oct. 3 -- Oracle (NASDAQ:ORCL) today announced the general availability of Oracle's PeopleSoft Enterprise Financial Management 9, which features enhancements to core financial accounting, asset lifecycle management and enterprise service automation applications. Additionally, new features will be introduced in PeopleSoft Enterprise Internal Controls Enforcer, a key product designed to enable users to automate and enforce internal controls required under Section 404 of Sarbanes-Oxley. These features include enhanced reporting capabilities and enhanced software license tracking to reduce audit risk and penalties. These releases are yet another example of Oracle providing enhancements to its current application products under its "Applications Unlimited" initiative.
Oracle's PeopleSoft Enterprise Financial Management and PeopleSoft Internal Controls Enforcer help companies gain visibility into business- critical information, strengthen financial discipline, manage governance and compliance requirements, implement project management practices and realize efficiencies by automating and standardizing key business processes. The latest release has been enhanced to extend the value of current PeopleSoft investments using next generation technologies, deliver best-in-class business processes and drive a superior ownership experience.
"We participated in the customer testing process for PeopleSoft Enterprise 9 and saw numerous enhancements in every product of our PeopleSoft footprint that we found extremely useful," said Kent Frank, Director of Financial Accounting Services at Baylor University and board member of the Higher Education User Group. "We are highly compelled to upgrade to release 9 in the next year."
Extending the Value of Current Investments
Oracle's PeopleSoft Enterprise Financial Management 9 includes new capabilities enabled by innovative technologies -- including an expansion of Web services, integration with Oracle Fusion Middleware including Oracle Business Process Execution Language (BPEL) Process Manager, and Oracle XML Publisher -- to help customers maximize existing software investments.
-- Web services -- Customers can benefit from the more than 200 new or enhanced Web services integrated with PeopleTools 8.48 to improve application usability and extensibility. These Web services will help organizations interoperate disparate application systems.
-- Oracle BPEL Process Manager -- Customers may use PeopleSoft Enterprise Financial Management 9 applications with Oracle BPEL Process Manager to integrate business processes requiring the use of different applications or external websites.
-- Oracle XML Publisher -- The combination of PeopleSoft Enterprise Financial Management 9 and Oracle XML Publisher allows customers to create multiple ouput formats using familiar desktop applications. The solution allows companies to simplify the creation of user-friendly and richly formatted reports, payment remittances, 1099 forms, electronic funds transfers, VAT transaction reports and cash positioning worksheets.
Delivering Best-In-Class Business Processes
In the latest release, Oracle continues to deliver comprehensive support for all financial, project management, asset lifecycle management business processes, as well as new functionality for the staffing industry. New enhancements have been made in the following areas:
-- Compliance -- Expanded support for International Financial Reporting Standards (IFRS), functionality for Partial 224 Incremental Requirements for federal government customers and enhanced reporting capabilities, including extensive reports, facilitate financial statement certification and external auditor assessment.
-- Asset Lifecycle Management -- New features include support for asset maintenance, IT asset management and real estate lease administration. Additionally, a variety of new analytics and an improved user interface offer better visibility into IT asset, real property and technician utilization.
-- Travel and Expense Management -- New, extended business process integration gives customers single sign-on access to travel partner sites and automates the sharing of user profiles. Additionally, travel reservations can be integrated into the PeopleSoft Enterprise Travel and Expense Management system to streamline travel authorizations and expense reports.
-- Grants Management -- PeopleSoft Enterprise Financial Management 9 includes out-of-the-box integration with www.grants.gov for organizations to obtain and view their opportunities list, preview grant applications online, electronically submit applications via XML-based Web services, review submitted applications and check application status.
-- Project Management -- Key program management enhancements include the expansion of earned value analysis tracking and tools scheduling, offering greater insight and project control in PeopleSoft Enterprise Service Automation, part of the PeopleSoft Financial Management 9 release.
-- Staffing Industry -- PeopleSoft Enterprise Financial management 9 includes streamlined email communications using templates, improved usability in search and navigation and enhanced change tracking for orders and assignments.
Driving the Superior Ownership Experience
Oracle's PeopleSoft Enterprise Financial Management 9 includes user productivity and usability improvements throughout the Financial Management suite of products, which were driven by direct feedback from customers. A large effort was made to review hundreds of enhancement requests and identify the changes that would bring the highest value to customers.
"We continue to innovate and offer compelling solutions to our customers," said Oracle Vice President of PeopleSoft Enterprise Strategy John Webb. "PeopleSoft Enterprise Financial Management 9 and PeopleSoft Enterprise Internal Controls Enforcer are the latest examples of how we work with customers to enrich their investments in PeopleSoft products and create additional opportunities for them to maximize their value."
Customers looking for more information on Oracle Applications are encouraged to attend one of the 1000 events that are being held around the world as part of Oracle Applications World Tour. These events are designed to communicate plans for "Applications Unlimited" and the evolutionary path to Oracle Fusion Applications. Please visit the World Tour website for more information, at www.oracle.com/worldtour .
About Oracle
Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at www.oracle.com
This announcement is provided to you solely for information purposes, is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. Many factors can materially affect Oracle's product development plans and the nature and timing of future product releases. The development, release, and timing of any features or functionality described remains at the sole discretion of Oracle.
This information may not be incorporated into any contractual agreement with Oracle or its subsidiaries or affiliates. Oracle specifically disclaims any liability with respect to this information.
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First Call Analyst:
FCMN Contact: susanne.penner@oracle.com
CONTACT: Susie Penner of Oracle, +1-650-506-1973, or susanne.penner@oracle.com; or Daylan Burlison of Zeno Group, +1-415-369-8116, or daylan.burlison@zenogroup.com
