PeopleSoft Extends Leadership in Global Human Capital Management with Newest Product Release.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Company Introduces More Than 250 New Enhancements to World's Leading HR Solution Today at its Connect 2004 user conference, PeopleSoft Inc. (Nasdaq:PSFT PSFT PeopleSoft (stock symbol) PSFT Progressive Saturation Fourier Transform PSFT Prosoft-Technology, Inc ) announced PeopleSoft(R) Enterprise Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. Management Solution (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 ) 8.9. Building on PeopleSoft's 15 years of market leadership, Enterprise HRMS 8.9 includes more than 250 product enhancements including new functionality for contingent workforce A contingent workforce is a provisional group of workers who work for an organization on a non-permanent basis, also known as freelancers, independent professionals, temporary contract workers, independent contractors or consultants. and absence management, new industry-specific functionality, and new features that significantly improve the application ownership experience. "PeopleSoft's track record for delivering products to meet customer needs has been impeccable," said Larry Bastianelli, fiscal systems manager, Care Group. "The enhancements to PeopleSoft Enterprise HRMS 8.9 are going to reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" the way companies think about Human Capital Management." New Contingent Workforce Functionality 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. the U.S. Department of Labor, 30 percent of 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. workforce is classified as contingent labor. This includes contractors, consultants and temporary employees. The Department of Labor expects the number of contingent workers contingent worker n. A temporary or part-time worker, usually one working under contract for a fixed period or a specific project. to quadruple quad·ru·ple adj. 1. Consisting of four parts or members. 2. Four times as much in size, strength, number, or amount. 3. Music Having four beats to the measure. n. from 3 million to 12 million in the next 10 years. For the first time, companies will have a comprehensive workforce management Workforce Management (WFM) encompasses all the responsibilities for maintaining a productive and happy workforce. Sometimes referred to as HRMS systems, or even the larger ERP systems (Oracle, PeopleSoft, SAP). There are many software vendors within this space. solution that manages both full time and contingent employees on a single integrated platform. PeopleSoft's new "person" model architecture enables organizations to manage all workforce data in a single repository through a single ID for the duration of an employee's tenure, regardless of changes in their workforce status. The new person model also provides internal visibility and control to critical elements of workforce management while delivering comprehensive reporting to support real-time workforce decisions. As a result, HR management can better respond to rapidly changing business conditions. All PeopleSoft HCM HCM hypertrophic cardiomyopathy. applications support the new person model architecture. New Absence Management Functionality Employee absence is the largest remaining unmanaged employer benefit and is a significant issue for organizations of all sizes. At medium-sized businesses, absent employees can immediately impact operational performance. Employee absence is also a challenge at large organizations, where time-consuming manual systems and spreadsheets have been deployed in an attempt to track employee vacation, sick leave, holidays, disability, and medical leave. PeopleSoft Enterprise Absence Management tracks all employee absences in a single web-based application See Web application. , enabling organizations to automate planning and compensation for paid and unpaid time off for a global workforce. The new application leverages a flexible, rules-based decision engine and employee and manager self-service, providing an efficient absence tracking and management system. PeopleSoft Enterprise Absence Management accommodates the unique needs of international organizations and integrates with PeopleSoft Enterprise Global Payroll, Payroll 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. , and Time and Labor applications. New Talent Management Functionality According to the Bureau of Labor Statistics Bureau of Labor Statistics (BLS) A research agency of the U.S. Department of Labor; it compiles statistics on hours of work, average hourly earnings, employment and unemployment, consumer prices and many other variables. , the U.S. workforce will decline every year until 2020. Assuming normal economic growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , U.S. companies will need to fill 55 million jobs over the next decade, but only 29 million potential employees will be available to fill these jobs. PeopleSoft's newly designed Talent Acquisition Manager and Candidate Gateway products are online, self-service tools that deliver new efficiencies for recruiters and candidates during the hiring process. The new Talent Acquisition Manager provides employers with enhanced contact management tools, improved search capabilities, and new configuration options that enable hiring managers to better track top candidates. The Candidate Gateway enables job applicants to more easily search, apply, and track multiple employment opportunities through a single interface. New Industry-Specific Functionality PeopleSoft is introducing additional vertical functionality to HRMS 8.9 including: --Banking and Finance: The Sales Incentive Noun 1. sales incentive - remuneration offered to a salesperson for exceeding some predetermined sales goal bonus, incentive - an additional payment (or other remuneration) to employees as a means of increasing output Management (SIM) application in PeopleSoft HRMS 8.9 has been enhanced with new industry-specific templates that will enable financial institutions to better align salesforce compensation and incentives with organizational objectives. --Manufacturing: PeopleSoft HRMS 8.9 delivers enhanced union support. New capabilities enable organizations to track up to 12 seniority dates per union labor agreement and include built-in union wage progression scales. New usability enhancements to PeopleSoft's Time and Labor application will deliver a 15 to 20 percent performance improvement to further streamline the time reporting process and drive employee productivity. --Retail: HRMS 8.9 features new retail-specific scheduling tools from TempoSoft integrated with PeopleSoft's Time and Labor application, enabling retailers to more accurately forecast staffing needs based on employee skill sets, preferences, workload and appropriate labor laws labor law, legislation dealing with human beings in their capacity as workers or wage earners. The Industrial Revolution, by introducing the machine and factory production, greatly expanded the class of workers dependent on wages as their source of income. . According to data from its existing customers, TempoSoft's retail scheduling tools are proven to reduce overstaffing by 80 percent and generate a 2 to 10 percent savings on retail labor costs. --Government: PeopleSoft eProfile and eProfile Manager now deliver pre-configured employee and manager self-service tools that comply with government regulations for federal, state and local implementations. Total Ownership Experience Enhancements Building on its lead in providing customers a superior Total Ownership Experience, PeopleSoft Enterprise HRMS 8.9 includes numerous new enhancements. The new release underwent extensive testing in real customer environments and customers have reported the following performance gains: --20 percent reduction in overall implementation time --23 percent increase in task completion --16 percent reduction in time across 18 key tasks "PeopleSoft is delivering three major customer benefits with the HRMS 8.9 release: a significantly enhanced architecture, an array of new features and usability enhancements from their Total Ownership Experience initiative" said Albert Pang, director of enterprise applications research at IDC. "This new product underscores PeopleSoft's commitment to excellence in the human capital industry and to provide the solutions companies need to develop and maintain a competitive advantage through a superior workforce." "No other solution in the world empowers organizations to improve workforce productivity like PeopleSoft Enterprise HRMS 8.9," said Mark Frost Mark Frost (born 25 November 1953) is an American novelist, television/film writer, director, and executive producer. His work became famous in the seminal 1980s TV show Hill Street Blues. His other TV credits include Twin Peaks and On the Air. , general manager, PeopleSoft HCM. "PeopleSoft's new release extends our worldwide lead in human capital management by delivering unmatched functionality, flexibility, and ease of use." PeopleSoft Enterprise HRMS 8.9 will be available in Q4 2004. About PeopleSoft HRMS PeopleSoft's HCM solutions currently support the human resource needs of 75 million employees in 167 countries. PeopleSoft HCM is currently in use at more than half of the Fortune 100 and six of the 10 largest global organizations, making it the worldwide standard for Human Capital Management. The combination of PeopleSoft Enterprise, PeopleSoft Enterprise One and PeopleSoft World products are the most comprehensive set of HCM solutions from a single vendor in the world. PeopleSoft HCM solutions enable companies around the world to streamline their HR processes, deploy those processes throughout the organization, and align the workforce to organizational goals and objectives. To learn more about PeopleSoft Enterprise HRMS 8.9 please visit: http://www.peoplesoft.com/corp/en/products/ent/hcm/index.jsp About PeopleSoft PeopleSoft (Nasdaq:PSFT) is the world's second largest provider of enterprise application software with 12,400 customers in more than 25 industries and 150 countries. For more information, visit us at www.peoplesoft.com PeopleSoft and the PeopleSoft logo are registered trademarks of PeopleSoft, Inc. All other company and product names may be trademarks of their respective owners. Copyright (C) 2004 PeopleSoft, Inc. All rights reserved. |
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