PeopleSoft Announces Financials for Public Sector; PeopleSoft and Andersen Consulting Team to Deliver First Client Server Financial Management System for Public Sector.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--Jan. 9, 1995--PeopleSoft Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PSFT PSFT PeopleSoft (stock symbol) PSFT Progressive Saturation Fourier Transform PSFT Prosoft-Technology, Inc ), a leading client/server business software vendor, today announced the delivery of PeopleSoft Financials for Public Sector, a customized version of PeopleSoft Financials designed specifically for public sector organizations. Jointly developed with Andersen Consulting See Accenture. , PeopleSoft Financials for Public Sector addresses the unique financial management needs of the public sector -- including state and local governments in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , federal and provincial governments in Canada, and higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. institutions and other non-profit organizations throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . PeopleSoft identified the public sector as a key vertical market in 1993, and currently delivers comprehensive client/server solutions that include PeopleSoft Financials, PeopleSoft Distribution, and PeopleSoft HRMS HRMS Human Resource Management System HRMS High Resolution Microwave Survey (SETI, Project Phoenix) HRMS High Resolution Mass Spectroscopy HRMS High Resolution Molecular Spectroscopy HRMS Human Resources Management Specialist . PeopleSoft has more than 75 public sector customers, including such major organizations as the Federal Government of Canada The Government of Canada is the federal government of Canada. The powers and structure of the federal government are set out in the Constitution of Canada. In modern Canadian use, the term "government" (or "federal government") refers broadly to the cabinet of the day and , Library of Congress, State of Kansas, State of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. , and University of Wisconsin. PeopleSoft Financials for Public Sector includes functionality for fund accounting, budgetary controls, encumbrance A burden, obstruction, or impediment on property that lessens its value or makes it less marketable. An encumbrance (also spelled incumbrance) is any right or interest that exists in someone other than the owner of an estate and that restricts or impairs the transfer of the estate or accounting, and project and grant tracking across three applications: General Ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. , Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , and Accounts Payable. This functionality is required by public sector organizations that must follow different accounting and regulatory practices. "With PeopleSoft Financials for Public Sector, PeopleSoft and Andersen Consulting, through an innovative, industry-specific partnership, have delivered the first true client/server financial applications in this market," said Sherry Amos, director, Public Sector Marketing. "We are meeting the needs of our public sector customers by delivering user-friendly, tailored specifications built from the ground up to support their unique business requirements. This product line combines the market-leading public sector solutions experience of Andersen Consulting with the robust functionality and proven technology that have made PeopleSoft applications leaders in business software." "Together, Andersen Consulting and PeopleSoft offer unmatched experience in providing public sector leaders with methods for managing progressive change," said Randy Hendricks Randy (Randal) Hendricks (b. November 18, 1945 in Missouri) is an attorney and sports agent considered a pioneer in the field of sports representation. He is managing partner of Hendricks Sports Management in Houston, Texas. , managing partner, Administrative Solutions, Andersen Consulting. "As public sector organizations look to streamline business practices and apply technology to improve service and accountability, Andersen Consulting and PeopleSoft are combining their respective expertise in products and services to help these organizations take a new approach to achieve their goals." It is the goal of PeopleSoft and Andersen Consulting to offer integrated administrative software solutions for public sector organizations. PeopleSoft Financials for Public Sector is the first product suite to result from this strong, complementary partnership. Public Sector Functionality PeopleSoft Financials for Public Sector allows organizations to control, monitor, administer and report on financial information within unique guidelines and operating practices, across a broad spectrum of financial management environments. It provides integrated functionality to support fund accounting, budgetary management and control, encumbrance processing, and project and grant tracking in the core applications as follows: -- PeopleSoft General Ledger: Accounts for governmental as well as proprietary fund types, appropriations and encumbrances, projects and grants, and revenue estimates and expenditures. Provides budgetary control, maintenance, and reporting features to oversee and monitor funds. Supplies user-defined chart of accounts, flexible accounting periods, unlimited ledgers, and enhanced journal processing. Allows users to set up rules for allocating financial information in a database, then automatically allocates amounts according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. rules and produces a complete audit trail to maintain database integrity. -- PeopleSoft Accounts Receivable: Meets the specifications for tracking accounts receivable and revenue for large, complex organizations. Features flexible system setup, multi-tiered customer data storage, comprehensive customer processing, extensive item processing capabilities, and powerful payment processing. Automatically maintains appropriation and dedicated revenue activity and reflects relationships between them. -- PeopleSoft Accounts Payable: Provides features to efficiently manage cash disbursements and related payables information. Features allow users to customize system setup, extensively track vendor information, minimize data entry and ensure invoice and voucher accuracy, simplify cash requirements and payment processing, and enforce budgetary control on pre-encumbrances, encumbrances, vouchers and payments. Additional PeopleSoft Financials and PeopleSoft Distribution applications available to public sector organizations in 1995 include PeopleSoft Asset Management, Purchasing, and Inventory, as well as Project Costing and Billing in initial release. PeopleSoft HRMS, a complete suite of human resource management applications, also meets the human resource, payroll and benefit needs of public sector organizations. Powerful Reporting and Analysis Based on PeopleTools, PeopleSoft's client/server development and reporting environment, PeopleSoft Financials for Public Sector offers powerful, sophisticated data analysis and reporting tools. These tools, which include PeopleSoft Query, PeopleSoft nVision, and Crystal Reports Pro, allow users to build queries and create customized financial and management reports quickly and easily using a point-and-click Windows interface. PeopleSoft Financials for Public Sector also integrates with Windows spreadsheet programs, such as Microsoft Excel (tool) Microsoft Excel - A spreadsheet program from Microsoft, part of their Microsoft Office suite of productivity tools for Microsoft Windows and Macintosh. Excel is probably the most widely used spreadsheet in the world. Latest version: Excel 97, as of 1997-01-14. . Availability and Pricing PeopleSoft Financials for Public Sector, which comprises General Ledger, Accounts Receivable and Accounts Payable, is currently available for DB2, Informix, Oracle, and SQLBase databases, and will be available on IBM's DB2 for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). database in mid-1995. Pricing for PeopleSoft Financials for Public Sector starts at $100,000 and will vary depending on products licensed, number of users, and organization size. About Andersen Consulting Andersen Consulting is an international management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to integrate their people, processes, strategies and technologies. Andersen Consulting has more than 29,000 people in 150 offices in 48 countries. In its administrative and financial systems practice for government agencies, Andersen Consulting has worldwide experience and deep skills in providing customized solutions for state, provincial, national and local governments. Worldwide, Andersen Consulting's government practice has generated more than $300 million in revenue in 1993 with a base of more than 600 public service agency clients. About PeopleSoft Founded in 1987, PeopleSoft was the first to deliver high-end client/server business applications. Today, with years of client/server experience, PeopleSoft leads the industry in providing client/server business solutions worldwide. Targeting large organizations, PeopleSoft products -- PeopleSoft Financials, PeopleSoft HRMS, and PeopleTools -- are setting the standard for enterprise-wide information management. Only PeopleSoft products -- which support the Windows graphical interface See GUI. and a choice of RDBMS (Relational DataBase Management System) See relational database and DBMS. RDBMS - relational database platforms on a range of mainframe, midrange, and LAN server platforms -- deliver truly portable and scalable client/server applications. These products are backed by the award-winning PeopleSoft customer service and support team. With hundreds of customers in nearly every industry and geographic region in the world, including a cross-section of Fortune 1000 organizations, PeopleSoft licenses its products through direct sales offices and distributors in the U.S., Canada, Europe, Asia/ Pacific, Latin America, and Africa. PeopleSoft, named the fastest-growing software company in America by Fortune this year, is based in Walnut Creek, California Walnut Creek is a largely affluent suburb several miles east of Oakland in Contra Costa County, California, USA, in the East Bay region of the San Francisco Bay Area. While not as large as the neighboring Concord, Walnut Creek serves as the business and entertainment hub for the . -0- NOTE TO EDITORS: PeopleSoft, PeopleCode and PeopleTalk are trademarks, and PeopleTools and PS/nVision are registered trademarks of PeopleSoft, Inc. All other company and product names may be trademarks of their respective owners. Andersen Consulting is not a division of accounting organization Arthur Andersen. CONTACT: PeopleSoft, Inc.
Ray Gadbois, 510/946-9460
The Horn Group
Marilyn Callaghan or Mike Teeling, 415/579-6400
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