PeopleSoft, Inc. today announced the
general availability of the newest release of its industry-leading
suite of financial applications, PeopleSoft(R) 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

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

— 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.”

PeopleSoft Enterprise Financial Management 8.8 is available