Forbes Magazine Selects PeopleSoft eProcurement as `Best of the Web'

Business Wire, Nov 11, 2002

Business Editors/High Tech Writers

PLEASANTON, Calif.--(BUSINESS WIRE)--Nov. 11, 2002

PeopleSoft (Nasdaq:PSFT) today announced that Forbes Magazine has named PeopleSoft's eProcurement solution "Best of the Web" for 2002. Forbes "Best of the Web" acknowledges best-of-class, Internet-based solutions that enable companies to "turbo-charge their business practices."

Forbes selected PeopleSoft eProcurement, a key component of PeopleSoft Supplier Relationship Management, as "Best of the Web" for the proven ability to reduce costs by bringing sourcing and financial settlement processes online. Forbes acknowledges the benefits of PeopleSoft's solutions, emphasizing that they span beyond sourcing to streamline the complete source-to-settle process. Forbes notes that PeopleSoft Supply Chain Management solutions provide companies with visibility into supplier relationships to leverage relationships and negotiate better pricing.

"First generation eProcurement solutions were focused on improving one isolated process within the organization," said Pat Quirk, vice president and general manager PeopleSoft Supply Chain Management. "Customers gain greater business value from moving all of their processes online, from sourcing and procurement, to payment and settlement. With PeopleSoft Supplier Relationship Management, purchasing officers gain complete visibility and control to reduce costs through increased operational efficiency, strategic supplier management, rapid supplier enablement and better leverage of contracts."

Forbes "Best of the Web" picks can be viewed on the magazine's website at http://www.forbes.com/bow .

About PeopleSoft

PeopleSoft (Nasdaq:PSFT) is the world's leading provider of application software for the real-time enterprise. PeopleSoft pure Internet software enables organizations to reduce costs and increase productivity by directly connecting customers, suppliers, partners and employees to business processes on-line, in real time. PeopleSoft's integrated, best-in-class applications include Customer Relationship Management, Supply Chain Management, Human Capital Management, Financial Management and Application Integration. More than 4,900 organizations in 140 countries run on PeopleSoft software. For more information, visit us at www.peoplesoft.com.

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