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
Review Source

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.
  • 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.
  • 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.

PeopleSoft Feature Ratings

Accounts payable
8
Accounts receivable
8
Global Financial Support
8
Primary and Secondary Ledgers
7
Intercompany Accounting
8
Journals and Reconciliations
8
Enterprise Accounting
8
Configurable Accounting
8
Automated Invoice Processing
8
Shared Services Payments
8
Billings Management
8
Customer Receipt Applications
8
Customer Collections
8
Revenue Recognition
8
Cash Management
8
Asset Management
8
Travel & Expense Management
8
Budgetary Control & Encumbrance Accounting
8
Period Close
8
Transactions Tax
8
Subledger Reconciliations
8
3rd Party Accounting Systems
8
Pay calculation
8
Benefit plan administration
8
Direct deposit files
8
Salary revision and increment management
8
Reimbursement management
8
Dashboards
8
Standard reports
7
Custom reports
8
API for custom integration
8
Role-based user permissions
9
Single sign-on capability
9
Budgeting and Forecasting
7
Project Costing
8
Cost Capture
8
Capital Project Management
8
Customer Invoicing
8
Customer Contract Compliance
8
Project Revenue Recognition
8
Project Financial Performance Analysis
8
Project Financials Dashboard
8
Real-time Financial Reporting
8
Embedded Business Intelligence
8
Project Planning Collaboration
8
Sourcing Team Collaboration
8
Sourcing Analysis
8
Bids Analyzed and Compared
8
Catalog Shopping E-Commerce for Employees
8
Contract Authoring
8
Contract Compliance Management
8
Contract History
8
Contract Renewal Automation
8
Contract Repository
8
Contract Standardization and Enforcement
8
Electronic Signatures
8
Invoice Automated Matching
8
Purchasing Risk and Compliance Management
8
Requisitions-to-Purchase Orders Integrated
8
Spend Compliance Management
8
Supplier Assessment
8
Supplier Communication and Collaboration
8
Supplier Management
8
Supplier Portal
8