Which Industries Are the Top PeopleSoft Innovators?

Like with any software solution, PeopleSoft innovators who go the extra mile with their implementations will always see better results than those who stick with the basic.

PeopleSoft is one of the most well-known systems in the enterprise resource planning industry. The company has successfully served the needs of government organizations and commercial entities for several decades and will continue to do so into the future. Modern competitors in the market have now taken over large portions of the market share of enterprises moving into ERP solutions, but existing PeopleSoft customers in many industries are staying put and expanding the use of PeopleSoft solutions.

It's no surprise that American organizations make up the bulk of PeopleSoft users. One company estimates the total figure at 71.9%. Other leading countries include Canada, Australia, the United Kingdom, and Singapore. This shows a clear preference from organizations in English-speaking countries. However, India, Thailand, Malaysia, and Brazil are also significant players.

Company sizes also play a role. Most companies using PeopleSoft have employee counts that range from 1,000 to 10,000. These organizations make up 53.2% of PeopleSoft's customers. Corporations that earn more than $1,000 million also account for 54% of PeopleSoft's customer base.

The tendency of big industry players to remain with PeopleSoft speaks to the functionality of this legacy system. It's also clear that larger companies prefer the expertise and familiarity of this technology to manage their complex organizations. So, which are the top industries that feature PeopleSoft innovators and their exceptional use of the platform's human resource capital management functions?

The Top 4 Industries for PeopleSoft Innovators

The ERP space has become more and more competitive. Yet there are four industries in which PeopleSoft remains a common choice. These industries represent some of the most critical cornerstones in modern-day society.

1. Government Organizations

PeopleSoft first unveiled its Government Portal in May 2001. It made it easier for government organizations to create a centralized system via a single sign-in option. The company's decision to cater directly to government agencies contributed to its continued success in this area. Government bodies are notoriously slow to make technological changes, so once these organizations came on board, PeopleSoft knew they would stay for a good, long while.

Several years later, Oracle purchased PeopleSoft. Today, PeopleSoft still offers several government-specific tools via Oracle. Consider the following:

• PeopleSoft Enterprise CRM for Government: This CRM platform is designed for public sector organizations. It helps agencies interact with their citizens more efficiently, collect taxes, and manage contracts with external organizations.
• PeopleSoft Contracts for Government Contracting: This is a specialized software solution designed for federal, state, and local governments that need to manage their contracts. It ensures compliance with government regulations and streamlines the process that creates and tracks contracts.
• Oracle Cloud: While this is more specifically an Oracle product, it does include PeopleSoft as an Oracle application. The company boasts that PeopleSoft can help optimize processes and maximize performance in the cloud.

So, who exactly are these government agencies that use these and other PeopleSoft tools? Examples include Clackamas County in Oregon, Alameda County in California, and King County in Washington.

2. Healthcare

Healthcare is one of the most regulated industries worldwide, so PeopleSoft's ability to serve this field speaks volumes. One perfect example of the resources in this space is the PeopleSoft Healthcare Scorecard. This introduced a new layer of data analytics to the healthcare systems so organizations can track performance and find new ways to do more with less.

Here are some of the main benefits and features of this system for PeopleSoft innovators:

• Healthcare Metrics: The selling point of this platform is that it provides over 120 key performance indicators relevant to healthcare. Examples include supplier rating systems and HR compensation ratios. Managers can review this data to make informed decisions.
• Continuous Performance Measurement: PeopleSoft makes it easy to automate the monitoring process. Users can simply set it and forget it. For example, they can set trigger warnings for KPIs. When metrics move outside these safe ranges, it notifies the relevant users.
• Personalized Performance Management: Everyday users can choose metrics to monitor what matters most to their specific job functions. This feature can improve productivity and effectiveness with ease.
• Enterprise-wide Performance Measurement: PeopleSoft Performance Management Warehouse makes it easy to deliver organization-wide metrics. Managers can design this deployment so workers can see how their individual contributions affect company performance.

The healthcare providers using Oracle are some of the best in the world. These include the Children's Hospital Colorado in the United States, Medife in Argentina, and Kaiser Permanente in the United States.

3. Higher Education

Tertiary education is experiencing an upheaval. Colleges struggle with underfunding and enrollment declines. Meanwhile, high costs and student loan horror stories continue to scare future students away. Reports say there are 1.4 million fewer students enrolled in colleges across America than compared to 2020. That represents a 9.4% decline over that period.

Needless to say, colleges now focus on doing more with less, and optimizing the PeopleSoft ecosystem helps make this happen. Oracle provides a Campus Solutions Warehouse that helps PeopleSoft innovators in higher education tackle these problems and more. Its core offering is robust data analytics, which colleges can use to understand their student populations and staff better.

Here are some of the top areas it helps colleges better delve into:

• Applicant progression as they go through the admissions process
• The efficiency of the admissions process
• Recruitment effectiveness and trends
• Financial aid and student finances
• Term and class enrollment trends
• Effectiveness of curricula offered

Colleges worldwide rely on PeopleSoft Campus Solutions and other products for the reasons highlighted above. Florida State University in America, Birla Institute of Technology & Science in India, and Simon Fraser University in Canada are just some of the many that do.

4. Finance

Finance is another highly-regulated industry with costly consequences for failing to comply. Regulations affect accounting records, communications, and payroll. Every organization has a finance department and must comply with the rules governing the industry as a whole. Consequently, virtually all organizations can benefit from using the PeopleSoft Finance module and its Financial Analytics.

The finance module covers virtually every role in any organization's accounting and finance departments. Examples include billing, accounts receivable, asset management, general ledger, and grants. The analytics add-on focuses less on process management and more on delivering high-end data that managers can use to make critical decisions. Consider the following components:

• Align Operations with Corporate Strategy: Tap into the PeopleSoft Scorecard to track progress against top-level objectives.
• Planning and Budgeting: Use historical data and predictive models to streamline budget forecasting.
• Cost and Profitability Analysis: Analyze the financial impact of projects, events, programs, and products to determine their worth.
• Financial Control and Reporting: Automate document creation, collaboration, and publish actionable financial intelligence.

Some of the most prestigious organizations use PeopleSoft to manage their finances. The list includes FTI Consulting in D.C., Comptroller of Public Accounts for the State of Texas, and First Financial Northwest Bank in Washington.

Leverage the Full Power of PeopleSoft Innovators

Achieving mastery at the level of PeopleSoft innovators requires complex knowledge. Adding technology to the mix can give even the most experienced IT team a run for its money. On top of this, there is now a dwindling pool of professionals with the expertise to set up and manage PeopleSoft.

That's why it's best to partner with managed services professionals who know PeopleSoft and its competitors inside and out. These professionals have the knowledge and experience to help you get the best out of the systems you have chosen for your organization. Contact our team at ERPA to learn more about our managed services.