PeopleSoft applications through Oracle are a unique set of on-site programs designed to help large businesses and organizations streamline their overall processes. This powerful suite of tools includes several popular programs, including PeopleSoft Payroll.
What Is PeopleSoft?
PeopleSoft is a suite of applications that mid-sized to large companies incorporate as a workforce management solution. PeopleSoft is a software that's part of the Oracle software product line. The PeopleSoft application was originally designed for finance and human resources support, but over time, it has gone on to include more tools and applications for general business operations. Some of the uses that businesses and corporations have for incorporating PeopleSoft include many different management aspects like materials, communications, and payroll management.
Here are some of the popular applications that PeopleSoft comprises:
- PeopleSoft Selective Adoption 9.2 enables you to choose which updates you want to apply and when you want to apply them. This application also lets you retain key strategic customizations within the parameters and metrics you're assessing. This program provides updates about every 10 weeks or so.
- PeopleSoft Application Engine gives you the ability to develop, test, and execute online or batch programs that are capable of high-volume background processing. These programs are somewhat similar to COBOL applications, but the PeopleSoft Application Engine provides more efficient updates because the program's database contains all of the data needed for updating.
- PeopleSoft within Oracle Cloud allows you to access PeopleSoft products via Oracle Cloud. With the Oracle Compute Cloud and Marketplace, businesses can access and deploy the various PeopleSoft applications, such as PeopleSoft Human Capital Management (HCM) and other business applications.
- PeopleSoft Deployment Framework allows you to transfer data to virtual systems within the Oracle Compute Cloud. You can also migrate data from PeopleSoft Development and Testing to the Oracle Cloud.
- PeopleTools 8.55 is similar to PeopleSoft Deployment Framework in that you can transfer custom data to the Oracle Cloud and create multiple nodes of clusters within the PeopleSoft and Oracle Cloud database.
These are several applications that businesses can use within the PeopleSoft suite. Depending on a business's management needs, users can try out a range of selected products to manage, track, and plan business operations.
What Is PeopleSoft Software Used For?
Essentially, PeopleSoft applications are tools that large corporations use to effectively manage human resources (through human resources management systems, or HRMS), customer relationships (through customer relationship management systems, or CRM), financial and supply chains (through financial and supply chain management systems, or FSCM), and enterprise performance (through enterprise performance management systems, or EPM).
- HRMS: In addition to managing payroll, the human resources department can track the hiring process, from uploading job openings and screening applicants to organizing interviews and orientation for new hires. PeopleSoft HRMS applications also allow HR departments to manage and access timesheets and employee information and update key data like benefits and taxes.
- CRM: PeopleSoft gives companies the ability to organize and manage every step of the sales and marketing processes with customer relationship management. Data like sales analytics, marketing metrics, and customer conversion, purchases, and satisfaction can all be monitored through a PeopleSoft application.
- FSCM: PeopleSoft for FSCM gives users the ability to perform requester inquiries, review evaluation results of listed suppliers, input project balances, and modify project team tasks like integration and end dates. Other uses for PeopleSoft include the ability to organize and perform mass transactions, update time reports, import templates, and delete obsolete spreadsheets.
- EPM: When used for EPM processes, PeopleSoft can be useful for identifying reports and specific run control settings for processing reports, choosing how frequently to run a process, setting and changing project and process dates, and streamlining operations management across the departments of a business.
These basic uses for the PeopleSoft suite of software are the most common for businesses and corporations. When it comes to human resources management, PeopleSoft proves to be a highly effective solution for streamlining, monitoring, and tracking the processes that are typical of this kind of department. Therefore, human resources can rely on PeopleSoft applications to organize employee information, departments, tasks, and employee benefits and payroll.
What Is PeopleSoft Payroll?
PeopleSoft Payroll is one of the PeopleSoft applications that a company's human resources and financial departments can use to organize, update, monitor, and report earnings and employee salaries. PeopleSoft Payroll can also integrate with PeopleSoft HRMS so that users can input and manage information regarding time, labor, general ledgers, recruiting activities, compensation reports, and other applications. This makes directing and managing these processes much more efficient and gives users the ability to coordinate and keep track of a range of payments, including expenses, salaries, and bonuses.
Additionally, PeopleSoft Payroll is extremely useful for selecting and providing employer and employee benefits packages, including health and retirement benefits. HR departments also find PeopleSoft Payroll effective for maintaining and filing employee tax documents. Several other great features of the PeopleSoft Payroll application include:
- Comprehensive and flexible support for both the United States and Canada with regard to processing requirements and regulations for tax schedules, which keep businesses and corporations updated on the current requirements.
- Preparation and management features for processing year-end financial information before the start of the next year.
- The ability to create unlimited earnings and deductions inputs, handle multi-departmental processes, and use a common payment method.
- Users can set up and manage a direct deposit function and check on the status of upcoming and pending payments.
- Custom features that help human resources outline payroll parameters like wage garnishments, special tax deductions, and more in order to stay in compliance with current regulations.
- Human resources can also track time off, including credit, compensatory, and awarded time off.
Ultimately, PeopleSoft software is a highly valuable tool to have for streamlining and managing all operations of a business. With the available range of PeopleSoft products, companies can integrate several different applications to enhance the overall direction of their business practices.
If you need PeopleSoft support services, get in touch with Dimension Systems, Inc. today.