PeopleSoft, Inc. announced the general availability of the newest release of its industry-leading suite of financial applications, PeopleSoft Enterprise Financial Management 8.8. The release incorporates 225 new features and enhancements across 20 applications, driving higher levels of usability, performance, and customer productivity. Enterprise Financial Management 8.8 also offers enhanced support for financial best practices through intelligent self-service applications, embedded analytics and advanced technologies, such as XBRL, XML and instant messaging.

Throughout the development of the release, more than 200 end users provided feedback on usability and productivity enhancements for the 120 most commonly used tasks and processes within PeopleSoft's Financial Management solutions. Enhancements address tasks and business processes from employee expense reporting to credit and collections management. In addition, PeopleSoft engaged several companies across numerous industries to perform rigorous testing. The results of the release testing include the following industry- leading performance metrics:

  • Task completion rates were improved by an average of 44 percent.
  • Time to complete tasks was improved by an average 29 percent.
  • Employee expense reporting processes were streamlined by more than 50 percent.
  • Performance benchmark goals were exceeded by 10 to 20 percent.
  • General Ledger Allocations performance increased 60 percent.

"With Enterprise Financial Management 8.8, PeopleSoft is meeting its commitment to improving the Total Ownership Experience for customers," said John de Rijk, financial systems development manager, P&O Nedlloyd. "As one of the pre-release testers, we were able to experience for ourselves the dramatic improvements in the quality, usability, and performance of the software. The look and feel of the system is much more intuitive, which should speed user adoption and reduce training costs."
"PeopleSoft became a leader in Financial Management by providing real-time business solutions that are easy to use and implement," said Renee Lorton, senior vice president and general manager, PeopleSoft Financial Management. "With PeopleSoft Enterprise Financial Management 8.8, we've raised the industry bar once again, improving the overall ownership experience. This solution delivers the usability employees want, the productivity CFOs need, and the return on investment that CEOs demand."

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