In the newest PeopleSoft Talk with Oracle’s Marc Weintraub, Alexa Masters, Product Strategy Director, discusses the new enhancements and developments in PeopleSoft 9.2’s Procurement Solutions. She addresses three main challenges facing Purchasing Departments and how PeopleSoft Procurement addresses these areas.
The first reason to move to PeopleSoft Procurement Solutions is to reduce Spend Creep. CFOs and organizational leadership are watching Purchasing departments and are seeing how spending can impact the bottom line. Leadership is looking for ways to not only control, but cut costs wherever possible. By increasing automation with things such as supplier administration, organizations are able to significantly cut costs and focus on executing operations. This initiative, called the Supplier Lifecycle Management initiative, allows users to reduce risk and improve data management, creating savings in multiple areas.
The second reason to move is to stay in compliance. There are two parts to compliance in Purchasing- contract compliance and supplier compliance. Purchasing departments need to make sure that contracts, service level agreements and documents are compliant as well as the suppliers that they decide to do business with. PeopleSoft has launched the total Contract Management Initiative, enforcing compliance and lowering risk. A new development recently released within this initiative is the PeopleSoft Supplier Contracts Workbench. The Workbench provides users with a visual display of all activities through the life of a contract. It provides users with a one-stop shop to see all contract activity and drill down into the activities related to each.
The third reason to move is to provide your Purchasing users with the modern, mobile and innovative experience they are looking for. PeopleSoft answers users’ requests through solutions and functionality delivered in the Fluid User Interface. Before Fluid UI, PeopleSoft users used Desktop Requisitioning. Now, customers are looking for a mobile, modernized eProcurement Requisitioning tool. With eProcurement in Fluid UI, procurement officers will be able to access the information they need while on the go from a smartphone or tablet. eProcurement Approvals are now also available on mobile devices with future development in Requisition Receiving on mobile.
Another way 9.2 delivers an innovative experience through PeopleSoft eProcurement is the Integrated Marketplace, where internal and external 3rd party catalogs are combined in one place. Users experience streamlined search and navigation without having to look up different pages. All results are found within the PeopleSoft eProcurement page.
PeopleSoft is continuing to develop new features for eProcurement solutions. Oracle is currently working on developing a Supplier Contract Activity View, which allows organizations to take all the contracts from a supplier and name/structure them to match their organization’s preferences. Supplier Onboarding Registration Templates, Supplier Change Request, Supplier 360 and Supplier Portal Solution in Supplier Lifecycle Management in 9.2 are all available to those who have the Payables or Purchasing module in 9.2.
Want more information on PeopleSoft eProcurement? Email me or visit Oracle online.
