Choice can be a good thing. When we have choices, we have a sense of control. Options, however, can also cause us to freeze up when we have to make a decision. Sometimes making us feel like we're running in circles.
Companies using PeopleSoft HCM may think that with the release of version 9.2 that they have only one choice — to upgrade or not. Such is not the case. You actually have three options that offer you a range of ways to maximize your company’s technology investment.
Option #1 - Upgrade to PeopleSoft HCM 9.2
Besides adding functionality, the new release of PeopleSoft HCM provides simplistic intuitive solutions to use. The PeopleSoft Update Manager transforms the maintenance process and reduces the cost to stay current with maintenance.
Quick review of newer features and functionality
- Secure enterprise search that enables users to quickly retrieve accurate and actionable results making the application easier to navigate
- More than 60 prebuilt Pivot Grids and a Pivot Grid Wizard that deliver self-service analytics
- Manager dashboards that give you easy access to pertinent employee data
- Integrated workcenters, activity guides, and train stops to streamline and simplify processing
- iPad certification to access PeopleSoft application
- Mobile support for email integration
- Many module specific features including mid-year check points in ePerformance, paycheck modeling in Payroll, and timesheet lock down and online rules processing in Time and Labor
Option #2 - Remain on Current Release
Even if you decide not to upgrade, you can take advantage of new features and functionality now by leveraging Feature Packs and Talent Management Integration in your current version of PeopleSoft HCM.
Delivered between major releases, Feature Packs deliver new capabilities to meet changing business needs. PeopleSoft HCM 9.1 Feature Pack 2 is now available and enables you to help increase employee productivity and effectively align investments in the workforce.
Take advantage of new functionality including:
- An integrated company directory leveraging your PeopleSoft data
- Matrix reporting relationships to create flexible, cross-functional reporting relationships
- Manager dashboard with actionable organizational charting and talent summary to view and transact on employee data from a single point within the application
For those of you on PeopleSoft version 8.9 or later, you can take advantage of best-in-class 9.1. Talent Management functionality through delivered integration without upgrading your HCM application. Newly integrated capabilities allow you to develop skills available in the workforce and invest in talent.
- Career and Succession Planning
- eCompensation Manager Desktop
- Recruiting Solutions
- Enterprise Learning Management
Companies can increase their workforce ROI as well as improve employee relations and morale. The consistent framework, data, and user interface minimize training needs. It also reduces the cost of maintaining security in multiple systems. With a single system of record, you can reduce the need for 3rd party software.
Option #3 - Implement Coexistence Model with Fusion
It’s not necessary to replace your existing PeopleSoft HCM instance to reap the benefits of Fusion which features Business Intelligence, embedded analytics, and mobility. PeopleSoft HCM customers can employ a co-existence strategy. This model allows you to add new Fusion applications where they can achieve significant business value while maintaining core data in PeopleSoft HCM. You have a variety of deployment options.
- Private Cloud: Your organization owns, implements, and manages the HCM application.
- Managed Cloud Service: The HCM application is deployed as a private cloud at one of Oracle’s data centers, at your site, or through Oracle’s partners and managed for a fixed monthly fee.
- Public Cloud: Oracle Cloud delivers your HCM applications with subscription-based access.
- Hybrid Cloud: You can also choose a hybrid model for different elements of your IT environment, and move back and forth over time as your strategy or requirements change.
Identifying the Best Option for Your Organization
Improvements in functionality and architectural changes tend to be what people focus on with a new release. The IT department may also weigh in on matters relating to product support or the opportunity to clean up customizations and cut maintenance overhead.
All this may lead companies to only consider a yes/no decision when it comes to an upgrade. However, you need to remember this is really a business decision. The driver should not be what the new software does, but the value of what it helps each business achieve.
Maximize Your ROI
The three options outlined above represent a different paradigm for evaluating how to proceed. Instead of only having to decide whether or not to upgrade, you have the flexibility to choose an option that delivers the best ROI for your specific situation.
When determining which will work best, the answer lies in how well your existing release supports your current and futures business needs. Consider each option in terms of how it will enable you to:
- Retain talent
- Improve productivity
- Reduce cost of ownership
- Improve reporting & analytics
- Empower managers and employees
- Predict trends and create proactive business model
Determine Best Option For Your Company
So, whether you decide to upgrade to PeopleSoft HCM 9.2 now or down the road, I can’t emphasize enough how important it is to develop a roadmap. One way to chart your path is through an Upgrade Planning Workshop designed to provide you with a framework for determining the best possible agenda for your organization.
How will a workshop help to evaluate costs, risks, and rewards of your PeopleSoft upgrade?
Contact us today to arrange a workshop for your organization.