PeopleSoft Delivers New Functionality for eProcurement; New Analytics Enable Dramatic Reduction in Purchasing Costs

Business Wire,  May 30, 2001  

Tags: analytics, e-procurement, PeopleSoft Inc.

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Business Editors and High Tech Writers

PLEASANTON, Calif.--(BUSINESS WIRE)--May 30, 2001

PeopleSoft Inc. (Nasdaq: PSFT) today announced new functionality for PeopleSoft 8 eProcurement that will deliver embedded analytics and enhanced navigation features in a pure internet purchasing solution.

PeopleSoft 8 eProcurement automates the entire purchasing process from requisition to payment, giving employees self-service capabilities to purchase goods and services. With the new functionality, PeopleSoft continues to deliver the highest level of automation, control, and analysis available in a single purchasing solution.

Powerful, new business analytics will enable purchasing managers to strategically evaluate every aspect of the procurement cycle, including their spend by category, the value of their suppliers, and the effectiveness of their workflow. Based on information provided by the analytics, organizations will be able to quickly renegotiate deals with key suppliers, driving bottom-line savings. In addition, organizations will be able to modify procurement methods in real-time to improve operational efficiency.

"By harnessing the powerful analytics and automated processing of eProcurement, organizations can make quicker, more informed decisions. This can have significant impact on bottom-line savings. At a time when purchasing costs are escalating, PeopleSoft 8 eProcurement enables organizations to dramatically reduce purchasing expenditures by as much as ten percent," said Mike Frandsen, vice president and general manager of PeopleSoft's Supply Chain Division. "The PeopleSoft eProcurement solution fundamentally changes the purchasing manager's role, from tactical to strategic."

New, advanced search capabilities in PeopleSoft 8 eProcurement will enable employees to quickly find items in extensive online catalogs based on the article's particular characteristics. Employees, for instance, will be able to view search results structured into categories and subcategories, eliminating guesswork and saving time. A request navigation feature will enable employees to monitor the step-by-step progress of their requisition request, substantially reducing the input required by purchasing departments. New mobile access functionality will allow managers to access and approve requests through handheld Personal Digital Assistants and mobile telephones regardless of time or location.

Josh Greenbaum of Enterprise Applications Consulting, Inc. in Daly City, California, states, "The built-in analytics of PeopleSoft 8 eProcurement clearly differentiate it from other purchasing solutions. Customers will be able to realize immediate value by identifying and evaluating key business metrics. Additionally, the seamless interoperability of PeopleSoft 8 eProcurement offers a clear advantage for PeopleSoft customers, and a compelling solution for those with legacy or other non-PeopleSoft applications."

PeopleSoft 8 eProcurement is part of the PeopleSoft 8 Supplier Relationship Management solution, which integrates the procurement function with collaborative planning, design and sourcing. By incorporating suppliers and employees into the procurement process, companies are no longer limited to indirect procurement and basic exchange.

About PeopleSoft Inc.

PeopleSoft Inc. is a world leader in providing eBusiness applications that enable people - customers, suppliers, and employees - to power the internet. PeopleSoft's pure internet Customer Relationship Management, Supply Chain Management, and Enterprise management solutions provide the industry's most open and flexible e-commerce platform. PeopleSoft employs more than 8,000 people worldwide, including 2,400 eBusiness consultants. More than 4,700 organizations in 107 countries run on PeopleSoft eBusiness applications. For more information, visit us at www.peoplesoft.com.

PeopleSoft and the PeopleSoft logo are registered trademarks. All other company and product names may be trademarks of their respective owners.

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