PeopleSoft Financials is being used as our consolidated accounts payable sub-ledger to pay over 10,000 vendors and we use it also for …
Custom reports (24)
Accounts payable (25)
Standard reports (24)
Accounts receivable (24)
Entry-level set up fee?
- No setup fee
- Free Trial
- Free/Freemium Version
- Premium Consulting / Integration Services
Would you like us to let the vendor know that you want pricing?
For more information visit https://www.oracle.com/partnernetwork/expertise/license-hardware/peoplesoft-fin-mgmt
Frequently Asked Questions
- Basic functionality
- Integrating with other systems
- Providing a consistent user interface
- Automating workflow
- Standardizing added and updated modules
- Updating old modules with newer UI and features
- Adding more in-application help
PeopleSoft Financials is being used as our consolidated accounts payable sub-ledger to pay over 10,000 vendors and we use it also for travel expense reports, auditing, administration, and payment through our two global disbursement banks based in the U.S. It is also linked to our procurement system with the vendor master file. We used PeopleSoft Financials to build in strict controls around the vendor master file. The system addresses vendor payments worldwide in multiple currencies.
- Process vendors' payments globally in multiple currencies
- Secure and protect the vendor master file and interface with procurement functionality
- Provide standard and ad-hoc reporting and security administration
- Process employee travel and expense reports
- User interface and user feel could be better
- Fewer steps and clicks screen to screen; screen efficiency is important
- Standard reporting is fine but ad-hoc reporting is just OK
It is also very user friendly and intuitive for financial users who are otherwise not very technology friendly.
- One of the best thing it does is it is customizable. You can implement any business logic you need. This is one of the very key assets of PeopleSoft Financials.
- PeopleSoft Financials's accounting methods are in line with industry standards. You can use the process as is and ledger will be taken care of.
- It supports multiple ways to integrate with other systems.
- Whenever new updates are released, please do thorough testing.
- Please implement mobile friendly version. I mean we need an app version also.
- Improve the performance of some of the slow pages.
The only place where it doesn't work is Services Procurement because there are multiple way to pay Services.
- Budget tool needs to be simple enough for general users' usage.
- They need to make it more streamlined in the process.
- Vendor payments
- Purchase orders
- More into analytics
- Performing purchasing related business processes
- Performing payables related business processes
- Performing ledger related business processes
- Lease accounting
We have a few niche products that accompany/interface with PeopleSoft for pieces of business functions such as creating requisitions for purchase orders, creating and approving travel requests, and overseeing admissions applications. However, core business operations and recording to General Ledger remains within PeopleSoft exclusively.
- Integrations. It is relatively easy to integrate and interface with other systems to maximize your solution.
- Flexible. PeopleSoft works for smaller and larger organizations and works well module-by-module.
- Mature. PeopleSoft is a mature product and is well vetted and documented.
- The system could be more user-friendly and more visually striking. Its interface (although improved greatly with FLUID) appears very outdated, years behind its technical capabilities. It would be more impressive to users if it were more modern and intuitive.
Not well suited for very small businesses or businesses whose business processes are changing continuously. Changing PeopleSoft for business process changes/modifications requires significant time and resources due to the design, testing, and implementation tasks involved.
HEUG is incredibly useful to me for long-range planning and day-to-day learning. This group is collaborative and insightful. The annual conference, Alliance, is a great opportunity to connect with people trying to solve the same problems you are trying to solve (in the higher education sector, we can be very isolated and nose-to-the-grindstone without specific opportunities to connect!).
- Customizable - PeopleSoft Financials allows for an incredible amount of flexibility and customization which is well suited to many industries including the healthcare and utility sectors.
- Platform Agnostic - PeopleSoft Financials has adapted to the shifting environment of multi-form-factor devices and the challenges that arise with mobile browsers and desktop power users by implementing a "Fluid" interface that can be used across all devices
- Feature Rich - PeopleSoft Financials includes settings and configuration for virtually any situation that arises within an organization's financial model, with most transactional settings being more than is required by the industry which ensures tracking to the level the organization requires
- PeopleSoft Financials does not address the needs of small organizations that do not have a large enough staff to maintain the software or utilize the features it provides as it requires a moderate staff to keep track of all of the transactions and processing
- PeopleSoft licensing costs are significant, which are relative to the features provided but in many cases those features may not be necessary
- PeopleSoft licensing structures can be frustrating at times when certain modules would allow you to perform the complex task needed but it would require the entire module to be licensed for just that one feature (e.g. Cash Management for loading bank statements in certain formats)
I and my group all make significant use of the Quest user group webinars and content available to keep current on the features available. The New England groups are great for networking locally, and the local user group day conference is a fantastic reference. These user groups are a huge benefit to being a part of the PeopleSoft community. They significantly add to the ability to turn on and utilize AP and Purchasing features that come out in later PUM releases.
- Budgeting and Forecasting
- Profitability Analysis
- Scheduling and managing employees
- Payroll and timesheets
- Some of the reports are not as customizable as we would like
- Not a super modern display/not intuitive
- Definitely need training can't jump in unexperienced
- You are able to see the process from ordering to delivery
- Easy to run budget reports
- Helps with end of year spending
- Reports are a little difficult to read
- Would be better if they could make the font bigger when printing our reports.
- PeopleSoft Financials does a great job of delivering detailed payroll information.
- It is great for companies that require complex payroll accounting
- It has a very easy interface for pulling payroll information from the system
- Payroll entry and payroll changes are easily made due to its ease of use for users
- PeopleSoft Financials could use the room for improvement by simplifying the interface for users to be able to access for payroll reports. It seemed that there were always a lot of steps in order to get to one report.
- PeopleSoft Financials seemed very complex unless we had an IT guy that would create out queries beforehand.
- Procure to pay process.
- Journal generation and financial reporting.
- Seamless integration within the modules like AP to GL.
- The user interface could be made more intuitive.
- The procurement module has a lot of room for improvement like all the other eCommerce websites out there like Amazon etc.
- Pay rent through lease module
- Pay suppliers through AP
- Track and monitor expenses through expenses module
- Consolidate and report through GL module
- Nvision reporting needs to be improved.
- Project costing and customer contract processes need to be streamlined.
- Caching of the pivot grids to display data to end-users should help.
- Lease admin work center should be added.
- Integration across modules
- Well delivered reporting
- Drill down capability with query manager
- Data latency is always a concern across modules.
- Easier allocation rules and processing within modules.
- Ease of use for the regular business user.
- Contract management
- Real-time reporting
- Better integration
- We love using provided tools for customizing the processes to match our existing business processes.
- The reporting package (nVision) is fairly complex for end-users to use.
- Easily customizable for business needs. We were able to build several bolt-on applications on PeopleSoft. If not, we would have implemented the same function on new software and spent on integration with PeopleSoft.
- PeopleSoft cloud will be a good enhancement for us.
- Fluid Approval.
- Pivot Grid - that gives us a snapshot of our situation in graphical form. It has charts, graphs, and it's a very visually appealing way to see how things are moving.
- Within PeopleSoft Financials, it integrates well across all modules, they are tightly integrated. e.g. Requisition, Purchase Order, Procurement Contract, Receipt, Voucher, Payment, etc.
- User Interface - it looks like Windows. The look and feel could be updated. It is also not usable on phones and tablets.
- Reporting is very cumbersome, especially when developing new reports. It can take a few weeks for a user to get a new report.
- Run reports.
- Manage user access.
- Reports could be more dynamic.
- It is perfect for delivering detailed payroll information.
- Reporting and queries.
- Flexible and robust.
- Tracks newly hired associates.
- Once a customization is in place, it is difficult to change it.
- Central system to house multiple vendor data
- Cross-regional security access features
- Intuitive UI for Payroll team
- Reporting capabilities for audit/self-check purposes
- Ad-hoc reporting capabilities
- Integration capabilities with various HCMs/CRMs could be better
- UI is not sleek/well designed. Looks pretty basic as an end-user
- Single source of record for financial information
- Manages payroll
- Student financials
- User interface
- Data access, searchability and visualization of information
- Mobile friendliness
My review is mainly from technical perspective due to my experience supporting PeopleSoft Financials.
- With a good technical support team, PeopleSoft Financials can do just about anything that a business needs. In my experience, there is no limit to what can be accomplished, but good requirements from business is a must (yes, this applies to any software customization) in order to achieve good outcome and to prevent development from spiraling out of control.
- Integration with external/3rd party systems can be accomplished somewhat easily. From using the standard integration method of using flat files (easy) for batch processing to web services (challenging) for real time data sync is all possible and all necessary elements are available with any implementation of PeopleSoft.
- PeopleSoft's development platform, PeopleTools, gives developers access to every aspect of PeopleSoft Financials in order to meet the needs of end users. Tweaks can be made to control the look and feel of any component and page. If needed, how data is presented on online pages can be easily controlled without altering the backend data. Flexibility that is made available in PeopleSoft is tremendous.
- PeopleSoft is owned by Oracle so any issues or bugs need to be logged through a service request (SR) via My Oracle Support. It is cumbersome to log a SR and support that is provided isn't always helpful, particularly since Oracle will not help with any customization issues. Typically lots of trace files or documentations are required before a support engineer can provide relevant input.
- Users often got frustrated with pages that weren't as user friendly as it could be. Users want similar experience of easily navigating through Amazon web sites, but many components/pages in PeopleSoft requires user training. Then again, the ERP system is technical in nature so it shouldn't be like buying books on Amazon...
- I mentioned the many ways to perform data integration, but web service route takes a highly skilled technical developer to do it well. There are so many pieces to the puzzle that it can be quite challenging. Also, using RESTful web service is limited by PS not supporting OAuth authentication protocol.
- The dev team is constantly improving the functionality the PFM features.
- Its free flowing and transparent
- Increases productivity business wide
- Its not easily customizable
- The implementation can be a pain