SRM Software manages 100% of corporate spend.
Press Release Summary:
Peoplesoft® Enterprise Supplier Relationship Management (SRM) v8.8 manages corporate spend, including direct and indirect goods, assets, and deliverable and time-based services. Functionality incorporates PeopleSoft Services Procurement, Strategic Sourcing, eProcurement, and Purchasing. It manages sourcing, purchasing, and supplier relationships across multiple countries, and supports Value Added Tax for products, services requisitions, contracts, and expenses.
Original Press Release:
PeopleSoft Extends its Lead in Supplier Relationship Management with PeopleSoft Enterprise SRM 8.8; New Solution Manages 100 Percent of Corporate Spend
PEOPLESOFT RELEASE October 20, 2003
At Connect EMEA 2003, PeopleSoft, Inc. (PSFT) today announced a new release of its award-winning PeopleSoft(R) Enterprise Supplier Relationship Management (SRM) solution. PeopleSoft Enterprise SRM is the only enterprise application solution that enables companies to manage 100 percent of corporate spend, including direct and indirect goods, assets, and deliverable and time-based services. New functionality incorporates best practices for procurement and sourcing and delivers an unparalleled user experience for employees, managers and suppliers.
"PeopleSoft has made substantial investments in its supply chain management offerings," wrote Barry Wilderman, senior vice president and director of analyst firm META Group in his recent report, Deriving Value from 21st Century ERP Applications. "By integrating Enterprise Analytics, combined with new capabilities in supplier relationship management and services procurement, this vendor is continuing to invest in expanding its product footprint."
PeopleSoft's Industry-Leading SRM Solution
With the introduction of PeopleSoft Enterprise SRM 8.8, PeopleSoft is building on the industry's leading SRM solution with new best-in-class functionality for services procurement, eProcurement and strategic sourcing. New functionality includes:
PeopleSoft Services Procurement
-- Deliverables-Based Services: Tracks and validates performance and deliverables for services that are measured by project milestones rather than timesheets. As a result, organizations can manage their total spend, verify the receipt of requests and track to specific terms and conditions.
-- Rate Comparison: Automatically compares previously negotiated rates to the service purchase agreement to ensure that contract rates are used.
PeopleSoft Strategic Sourcing
-- Collaborative Sourcing: Captures the requirements of key stakeholders, including buyers, engineers and supply chain managers throughout the sourcing process.
-- Multi-Round Sourcing Events: Decreases sourcing cycle time with multi-stage sourcing events, eliminating the need for multiple independent sourcing events.
-- Excel Importing and Exporting: Enables sourcing event details to be quickly incorporated into Excel spreadsheets.
-- Planning Integration: Enables the sourcing and negotiation of purchasing contracts to be based on actual forecast data from supply chain planning systems.
PeopleSoft eProcurement
-- Multiple Catalog Views: Allows users to view catalogued items in the format best suited to their role, while maintaining a common reporting structure.
-- Line Level Approval: Enables managers to approve specific lines or items and reject others. Partial requisition approvals can be converted instantly into purchase orders.
-- Support for the Four Eyes Principle: Accommodates multiple approvals on requisitions to enable European-based government and public-sector organizations to adhere to this European regulatory requirement.
PeopleSoft Purchasing
-- Enhanced Usability: Navigational redesign dramatically accelerates task completion
-- Regional Sourcing: Identifies supplier alternatives in each region, including alternate vendors and vendor locations.
Global Organizations Benefit from Country-Specific Functionality
PeopleSoft Enterprise SRM 8.8 effectively manages sourcing, purchasing and supplier relationships across multiple countries. Organizations can create standardized purchasing processes and controls to enable business units in different countries to purchase goods and services independently, while adhering to regional corporate guidelines. In addition to supporting Value Added Tax (VAT) for products, SRM 8.8 now supports VAT requirements for services requisitions, contracts and expenses. The solution also simplifies management of multi-currency transactions enabling customers to maintain control and reporting accuracy, while using different currencies throughout various stages of the sourcing, procurement and settlement processes.
"The new release of PeopleSoft Enterprise SRM enables customers to maximize their hard dollar savings by managing 100 percent of the company's spend," said Patrick Quirk, general manager, PeopleSoft Enterprise Supply Chain Management. "With the new solution, purchasing managers can be confident that all potential savings are being addressed."
PeopleSoft Enterprise SRM will be generally available in December.
About PeopleSoft Enterprise SRM
PeopleSoft Enterprise SRM is the only enterprise software application that enables organizations to manage 100 percent of corporate spend, including direct and indirect goods, assets and deliverable and time-based services. The solution seamlessly integrates the complete source-to-settle process -- from determining the best supplier, to receiving shipments, closing financial settlement, and continually analyzing performance. PeopleSoft Enterprise SRM has industry-specific functionality for the financial services, healthcare, education, government, industrial products, consumer products, energy, and high technology industries.
