Supplier Relationship Management Vertical Solution
PeopleSoft First to Deliver Vertical
Supplier Relationship Management
New Functionality Speeds Implementation and Adoption
PeopleSoft, Inc. (Nasdaq: PSFT) today announced the general availability of the first industry-specific solutions for Supplier Relationship Management (SRM). Traditionally, supplier management is decentralised without a clear view of supplier relationships. PeopleSoft SRM manages the complete source-to-settle process online, across an entire organisation, supporting the unique sourcing, procurement, spend management and supplier enablement requirements of the healthcare, government, financial services, energy, consumer products, and high technology industries.
“SRM solutions must reflect vertical industry buying practices,” said David Hope-Ross of Gartner. “Given that management of suppliers affects margin growth, efficiency, and product development, only industry specific approaches to SRM will enable organisations to leverage suppliers as a source of competitive advantage.”
PeopleSoft SRM, built on PeopleSoft’s Pure Internet Architecture™, manages the complete source-to-settle process, from the development of sourcing strategies to supplier selection, transaction execution, financial settlement and ongoing supplier management. SRM allows customers to manage the complete enterprise spend – including business and manufacturing supplies, raw materials, capital assets and contract services.
“We needed a solution that would address our unique needs, from accurately managing stock at multiple nursing stations and clinics, to ensuring compliance with group purchasing contracts,” said Bill Grimes, Manager of Materials Management Information Systems at Dartmouth-Hitchcock Medical Center. “We were able to reduce inventory by an average of 50 per cent, and save significantly on purchases through contract compliance and product standardisation. The savings from our pilot alone have already returned our entire investment.”
“With these new vertical solutions PeopleSoft is directly managing the different needs of these very different industries,” said Theo Aroney, Asia Pacific Product Marketing Director of Supply Chain. “By supporting those unique requirements our new vertical solutions reduce the need for customisation and delivers a faster time to benefit.”
PeopleSoft SRM for Industries is available today.
PeopleSoft (Nasdaq: PSFT) is the world’s leading provider of application software for the real-time enterprise. PeopleSoft pure Internet software enables organisations to reduce costs and increase productivity by directly connecting customers, suppliers, partners and employees to business processes on-line, in real time. PeopleSoft's integrated, best-in-class applications include Customer Relationship Management, Supply Chain Management, Human Capital Management, Financial Management and Application Integration. More than 4,800 organisations in 140 countries run on PeopleSoft software. For more information, visit us at www.peoplesoft.com.
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