My experiences with PeopleSoft Financials.
September 18, 2019

My experiences with PeopleSoft Financials.

Jayesh Jhurani | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with PeopleSoft Financials

Currently, we are using PeopleSoft Financials to take care of financials and accounting. Considering the size of our company and multiple locations, it was very important to use a software that takes care of all our needs. What works for us is that we have accounting, P2P, budgeting, travel and expense that can be taken care of in one application. So, it acts as one stop shop for all our business needs.

It is also very user friendly and intuitive for financial users who are otherwise not very technology friendly.

Pros

  • 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.

Cons

  • 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.
  • One of the positive impacts has been the faster close process. Accounting team is able to close books faster than the usual.
  • Another positive impact is on turning around procurement. Because of three way match, we get less exceptions and never over pay vendors.
  • The only negative thing is paying high cost of maintenance. If we don't have the latest version, the software doesn't help and to keep it latest we are paying high maintenance cost.
It is pretty much in line with PeopleSoft Financials because it gives seamless integration between Financials and HCM. Also, when you have both the softwares on same technology, it is very cost effective.

One of the reason for selecting PeopleSoft Financials and HCM are their capability to customize the business process. We have gone so far that we have built the bolt-on solutions.
PeopleSoft Financials really fits well for us because it is one stop solution for all the problems. For example, our offices are in India, US, UK and we do business in multiple geographical regions. With the help of Multi currency set up we are able to post everything to ledger in one currency and do our accounting.

The only place where it doesn't work is Services Procurement because there are multiple way to pay Services.

Oracle PeopleSoft ERP Feature Ratings

7.8
Accounts payable
8
Accounts receivable
8
Global Financial Support
8
Primary and Secondary Ledgers
7
Journals and Reconciliations
8
Configurable Accounting
8
8.0
Billing Management
8
Cash and Asset Management
8
Travel & Expense Management
8
Budgetary Control & Encumbrance Accounting
8
Period Close
8
Inventory Management ()
Not Rated
Order Management ()
Not Rated
8.0
Pay calculation
8
Benefit plan administration
8
Direct deposit files
8
7.7
Dashboards
8
Standard reports
7
Custom reports
8
8.0
API for custom integration
8
9.0
Role-based user permissions
9
Single sign-on capability
9
Grants Management ()
Not Rated
7.8
Budgeting and Forecasting
7
Project Costing
8
Cost Capture
8
Capital Project Management
8
Customer Contract Compliance
8
Project Revenue Recognition
8
Project Execution Management ()
Not Rated
8.0
Bids Analyzed and Compared
8
Contract Authoring
8
Contract Repository
8
Requisitions-to-Purchase Orders Integrated
8
Supplier Management
8
Risk Management ()
Not Rated
Logistics ()
Not Rated
Manufacturing ()
Not Rated
Supply Chain ()
Not Rated
Product Lifecycle Management ()
Not Rated

Comments

More Reviews of Oracle PeopleSoft ERP

  1. Home
  2. Enterprise Resource Planning (ERP) Systems
  3. Oracle PeopleSoft ERP Reviews
  4. User Review of Oracle PeopleSoft ERP