PeopleSoft Asset Management Implementation

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PeopleSoft Asset Management implementation for world’s leading …

PeopleSoft Asset Management implementation for world’s leading
providers of high-quality, integrated digital publishing services.

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  • 1. Case Study PeopleSoftPeopleSoft Asset Management implementation for world’s leadingproviders of high-quality, integrated digital publishing servicesClient OverviewOur client is among the world’s leading providers of high-quality, integrated digital publishing services and content technology solutions. The companysclients include the leading book and journal publishers, online content providers, and customers across industries. Business Needs The client had recognized that the use of isolated, single-user operated systems, Excel spreadsheets, Business Benefits and manual processes had led to steadily increasing inefficiency and inaccuracy within the • Eliminated manual, expensive, and organization’s Procurement and Asset Management systems. inefficient processes by retiring legacy systems and implementing streamlined, Given the situation, the client decided to leverage its existing PeopleSoft Financials infrastructure, automated Purchasing and Asset comprising the Accounts Payable, Billing, Accounts Receivable, and General Ledger modules, by Management systems. adding the PeopleSoft Purchasing and Asset Management modules. • Reduced overall cycle time with a fully integrated, paperless procure-to-pay cycle Scope within one ERP system, PeopleSoft. Our task, at Hexaware, was to implement the PeopleSoft Purchasing and Asset Management • Superior control and audit trail with a modules for all of the client’s global entities. Added to this was the integration of these new modules system-based multi-level automated with previously existing modules, which included Accounts Payable, General Ledger, and some approval purchase routing process. geography-specific customizations. • Better control over accounts payable data and vendor payments through a Challenges system-driven rule-based Purchase • The client’s operational structure did not map to the PeopleSoft chartfield structures leading Order–Receipt–Supplier Invoice matching to challenges in designing the purchase requisition approval workflow and related reports. process instead of the earlier manual • There was a need to move from a vendor-based taxation system for procurement and processes. payment to an item-based taxation system without affecting historical transactions and • Large increase in productivity by using an incomplete transactions currently in the procure-to-pay cycle at the cut-over date for new asset management system fully system. integrated with the Purchase, Accounts • The asset data quality was poor for conversion and there were inconsistencies in following Payable and General Ledger. accounting policies. • A highly efficient asset accounting and • The company had several reporting requirements based on multiple GAAPs. reporting process such that the entire • The client’s systems were not current on bundles/patches and, as a result, led to asset data sourcing (from Purchasing and uncertainty on resolving some issues encountered during implementation. Accounts Payable), accounting, and reporting cycle for all client entities can be Solution completed within shorter times. Hexaware implemented the PeopleSoft Purchasing and Asset Management modules and integrated • Enabled a seamless transition from these modules with previously existing Accounts Payable and General Ledger modules while ensuring vendor-based taxation to item-based any customizations were integrated as per the requirements. taxation in the procurement process. • System-calculated depreciation of assets The client’s new Procurement system was a fully automated and paperless system that covered the instead of spreadsheet-based procurement-to-payment cycle; from requisition, purchase order, and receipts to vouchers. It also calculations, which are difficult to control. included amount-based multi-level approval workflow systems with tracking possible at every stage of • System-generated calculation and the purchase process. The Assets master data structure was redesigned to become scalable enough accounting of depreciation as per multiple to add new entities easily while data for over 10,000 assets having complex and inconsistent data GAAP requirements. structures were converted from legacy systems to be compatible with the new system. Importantly, • Consistent data stored in a single the new Asset Management system was tested to ensure compliance with the client’s Indian and US database leading to high data integrity, reporting requirements. We also conducted a detailed user-training program after the implementation control and reliability of management along with a stipulated period of support to address stakeholder concerns. information. Technology Enviroment PeopleSoft Financials and Supply Chain Management Version 8.9, PeopleTools Version 8.48, Oracle 10g, SQR, Crystal Reports 9.© Hexaware Technologies. All rights reserved. www.hexaware.com