PeopleSoft Financials Remains Strong in ERP and Payables Functionality
April 13, 2021
PeopleSoft Financials Remains Strong in ERP and Payables Functionality
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with PeopleSoft Financials
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
- Allowed us to purge old vendors to optimize controls against potential fraud
- Maintained our ERP system security to add additional security features
- Interfaced positively with other financial systems, G/L, procurement, reporting, increasing our ROI
We compared PeopleSoft Financials against Oracle and Workday for accounts payable, comparing technical requirements and functional requirements. The other systems were fine, but we optimized our processes and controls to make our use of PeopleSoft Financials more effective. We hired a consultant to help in the comparison to make it more formal and we called a number of references to check out use against industry best practices.