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Maximizing Human Resources through the PeopleSoft ERP System
The PeopleSoft ERP System fully takes this into account as it seeks to assist firms in amplifying their human resource functions.
The PeopleSoft ERP System fully takes this into account as it seeks to assist firms in amplifying their human resource functions.
PeopleSoft is a US-based software company, which specializes in providing business solutions related to human resource (HR) management. The PeopleSoft ERP System caters to the HR needs and requirements of medium and large-scale firms. The fast development in Internet technology has prompted PeopleSoft to work on a web client as opposed to its earlier applications that depended on a client-server platform. The web client-based ERP gives a firm the flexibility to expand its reach primarily to its clients and suppliers. Hence, PeopleSoft-ss ERP is a good option for firms with an international market. Communicating with its employees in country-based offices is also enhanced.
Although PeopleSoft-ss ERP is largely HR in nature, it also has other components that provide comprehensive solutions for firms. PeopleTools, the ERP’s database technology, has codes that can be customized to meet the distinct needs of a particular firm.
Foremost among the modules is PeopleSoft Human Resource Management System (HRMS), which is a database of the attributes of employees based on a firm-ss mission, vision, goals, and business activities. The database gives the firm a detailed account on the composition of its employees, where they can be strategically employed and if the current mix is sufficient. This module enables decision makers to articulate and design HR-related programs that would strengthen the current set of employees as well as the hiring system. Among the HR programs that can be enhanced are in the areas of training, compensation, hiring, promotion, allocation of assignments, and retirement.
The rest of the modules are directed towards the storage, management, and utilization and sharing of data in order to generate a unified set of appropriate and cost-efficient activities for a firm. Payroll enables online and real-time calculations of payroll information. For firms with existing payroll software, the Payroll Interface enables the current software-ss integration into the ERP. Time and Labor computes the time requirements of the different functions of a firm and the corresponding optimal mix of resources required to accomplish these functions. The other HR modules involve pensions (Pension Administration), claims (FSA Administration), benefits (Benefits Administration), and stocks for employees (Stock Administration). Meanwhile, information on revenues and expenditures are addressed in modules relating to operation and management accounting (Financials), account details (General Ledger, Payables, Receivables, Expenses), assets (Asset Management), projects details (Projects), investments (Treasury), and budget systems (Budgets).
Since 2003, PeopleSoft-ss ERP has gone through several changes due to changes in company ownership. PeopleSoft’s acquisition of J.D Edwards, another ERP software developer, allowed the expansion and enhancement of the ERP System. By the end of 2004, PeopleSoft was acquired by Oracle Company, which enabled the merger of the technologies of the two firms. The result is the development of a new ERP System. Several controversies surround PeopleSoft’s acquisition, however, especially in addressing the needs of the company’s old customers, the demands of Oracle’s clientele and the future direction of the ERP System itself.
To date, the PeopleSoft ERP System remains an option in business solutions, especially for firms that heavily rely on their human resources. Despite the challenges and controversies that PeopleSoft is facing, the benefits provided by its ERP system are still being harvested.
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