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Posts Tagged ‘alm’

Save Time & Money with PeopleSoft Asset Management: Consolidate Tax Books Now

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Asset-management

Bottom line right up front: Yes, PeopleSoft Asset Management (AM) can save your organization money! I recently had the opportunity of implementing PeopleSoft AM v9.2, and have worked with PeopleSoft AM a handful of times over the past 15 years. But this year I’ve really had the pleasure to see how PeopleSoft AM can save organizations big money.

What made a recent implementation unique was that this organization needed to track assets over numerous Tax Books, 12 in all, plus two Corp Books as well. In the past, this organization had tracked Assets for the Corp/FASB Books in their main system whereas all the Tax Books were tracked in a separate system. As part of this implementation, it was my goal to demonstrate that we could consolidate all the Tax Books into PeopleSoft AM and save the organization massive time and money. In their previous system(s), it required extra monthly procedures for interfaces and redundant manual input to keep the Tax Books in sync with the main system for Asset transactions such as “adds”, “adjustments” and “retirements”. By consolidating all the Books into a single system with PeopleSoft AM, all that extra effort to keep everything in sync and the cost of maintaining the separate sub-system can now all go away.

All. Go Away. That’s huge.

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Tough Choices to Come for Higher Education

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Wellesley_College_Tower_Court

Craig Douglas, writing for Boston Business Journal about the facility and building management issues mounting at Wellesley:

In its recently published annual report, the college said 82 percent of its buildings have not had a major renovation in more than 25 years, while 60 percent have been largely untouched for 50 years.

Wellesley officials have warned that the capital-spending plan, while needed, will require “prioritization and … difficult choices” going forward.

“That means spending less on all levels of expenditures,” said Ben Hammond, Wellesley’s vice president for finance and administration. “I think it’s fair to say … we’re asking ourselves what levels of spending are sustainable.”

Take a minute to read the whole thing.  There is a crisis building in Higher Education (HE) around facilities and building management.  For the record, there are 1100 HE institutions running PeopleSoft.  We’ve helped HE institutions like Wellesley address the facility question with some additions to their current PeopleSoft system. In fact, we’ve become known as an HE authority in the PeopleSoft world.

The crisis is only a crisis if you let it get to that point. If you run facilities for an HE campus and you are struggling with this issue, we’re happy to say we have a solution for you.

MIPRO Kickstarts 2014 with Two Conferences: Oracle HCM World and Oracle Value Chain Summit

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The Oracle community was buzzing in early February, kicking off 2014 with two key conferences occurring simultaneously. MIPRO Consulting was able to divide and conquer, with a major presence at Oracle’s inaugural HCM World in Las Vegas and at the second annual Oracle Value Chain Summit in San Jose, Calif.

HR leaders from around the country gathered at Oracle HCM World from February 4-6 for two and a half days of strategic knowledge sharing on meeting the challenges of Human Resources in a more mobile and social world. Modern HR was the theme of the conference and speakers, including the CIO of Siemens presenting how they are addressing the new Human Capital Management paradigms facing all organizations. Oracle President Mark Hurd opened the show, with CEO Larry Ellison delivering the closing keynote to wrap things up. This impressive bookend is extremely rare, and Hurd commented that the showing was a demonstration of Oracle’s commitment to HCM, to Oracle customers and to its 130,000+ employees. Ellison’s keynote was a highlight at HCM World, with a candid Q&A session that gave attendees an opportunity to interact with him on a personal level.

MIPRO was honored to present alongside the impressive speaker line-up. Managing Partner Jeff Micallef and HCM Practice Director Anne Meyer delivered a session titled “MIPRO’s Enterprise Journey,” which chronicled the company’s transition from Workday to Oracle HCM Cloud. The session was well received, with an interactive Q&A to conclude.

Oracle’s inaugural HCM World was a home run. The strategic sessions drew an executive level HR crowd, and prominent Oracle HCM representatives. The forward-looking content focusing on Modern HR for the multi-generational workforce was well thought out and expertly executed.

A little farther west, Maintenance Management’s biggest event of the year unfolded at the San Jose McEnery Convention Center from February 3-5. Formerly the Maintenance Management Summit, Oracle Value Chain Summit drew more than 1,500 attendees for more than 200 sessions covering every aspect of supply chain management.

Having executed more PeopleSoft Asset Lifecycle Management (ALM) implementations than any other consultancy in North America, MIPRO is recognized as the leader in the PeopleSoft ALM space, and Value Chain Summit gave us an outstanding opportunity to connect with current and past customers, as well as the Oracle team responsible for ALM. From MIPRO’s viewpoint, the highlight of the conference was our 5th annual PeopleSoft Maintenance Management (MM) networking dinner. With a strong showing from PeopleSoft MM customers such as East Kentucky Power Cooperative, Covanta Energy, Cogentrix, and Jeffco Public Schools, as well as several key individuals from the Oracle team, the evening was a great success, providing an informal setting for everyone to share their experiences and enjoy a relaxing evening.

The focus on customer sessions at the show offered a great opportunity to hear first-hand experiences from PeopleSoft users—from the folks at Cogentrix Energy, discussed how they are utilizing Project Costing and Maintenance Management to CBRE highlighting their progress with the Real Estate Management Module. This real-life-scenario approach was beneficial for Oracle’s PeopleSoft ALM development/strategy team and customers alike.

Oracle HCM World and Value Chain Summit definitely started the 2014 conference season off with a lot of positive energy, and MIPRO is looking forward to building on that momentum at Collaborate, OHUG’s Global Conference, Reconnect and Oracle Open World later this year. If you’d like to connect with us regarding our experiences at these great industry events, give us a shout, or follow us on LinkedIn.

Why buy new equipment, assets, and facilities when what you have works fine?

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I can’t think of one industry today that isn’t considering cost-effective ways to manage their assets, capital equipment and facilities to maximize their longevity and return on investment. Everyone’s thinking about it.

My father once said, “The best kind of car is one that’s paid for.”  A simple statement, but when you think about it, a car that’s maintained with regular oil changes, new tires, battery, and brakes is one that will last a lot longer and will far exceed obsolescence and break-downs if maintained properly over the years, and keeping more money in your pocket instead of having to buy a new car.

CPG companies, utilities, higher education institutions, healthcare, public sector, retail, apartment complexes, and service industries are just a few that all have assets or equipment that need to be maintained and serviced on a regular basis in order to maximize their life expectancy and return of value and profit to a given organization. It’s a lot more expensive when one of these items goes out of service and has to be replaced.  No one likes to face the prospect of replacing forklift equipment, HVAC systems, MRI scanning machines, etc. There is too much at stake not keeping these assets and equipment running as efficiently and smooth as possible. Early replacement is the penalty for poor maintenance.

One way to achieve a stronger maintenance approach is to leverage the latest in integrated Supply Chain systems that tie the ongoing and preventative maintenance to your back-end Financials and HCM systems. It’s far too costly to rely on disparate systems via spreadsheets to try and make all this work together effectively. A well-integrated ERP system that brings together maintenance requirements and ties those back to a work order and order management system through financials helps you maintain your assets longevity and provides better visibility throughout your supply chain.

Add to that mobile capability for field sales and or technicians and you have the complete package. PeopleSoft’s EAM system does just that in an integrated way and does not require any 3rd party integration.

It works…out of the box. It’s as Apple-y as PeopleSoft has ever been, and that’s a good thing. Smart integrations done right are, to sloppily paraphrase Arthur C. Clarke, indistinguishable from magic.

For many organizations today looking to save money and drive this savings to the bottom line, implementing an integrated EAM-Enterprise Management System like PeopleSoft is a cost-effective measure when you are trying to watch where your dollars are spent in a very competitive economy.

Oracle Hosts PeopleSoft Customer Advisory Board

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Oracle’s John Webb, writing for PeopleSoft Apps Strategy:

The PeopleSoft Customer Advisory Boards met last week at the Oracle Conference Center in Redwood Shores. Over 180 customer attendees representing 113 member companies participated as well as our partner sponsors for the CAB: Accenture, Grey Heller, Infosys,  MIPRO and SmartERP.   The CAB included three days of  product breakouts, round tables and keynotes covering the PeopleSoft roadmap and customer feedback across HCM, Financials, ESA, ALM, Procurement and Technology. In addition there were customer presentations covering  best practice topics such as leveraging the PeopleSoft Interaction Hub and using org modeling as a strategic planning tool. Customers were also provided deeper insight into the newly delivered PeopleSoft 9.2  with focus on  lifecycle management tools using the PeopleSoft Update Manager. The event was well received by customers. Rich Harvey, from Boise, summed up the experience this way:

“The recent PeopleSoft Customer Advisory Board meeting showed just how deep Oracle’s commitment is to both the product line and the customers of PeopleSoft. The CAB is just one of the many venues available to the PeopleSoft customer to discuss and offer observations about the PeopleSoft product line and Oracle’s strategy. Although PeopleSoft 9.2 was just recently released with its own set of increased functionality, new technologies and substantial improvement to the end user experience, PeopleSoft gave the CAB a view of the future. The exciting part of looking at the future enhancements to functionality, technology and end user experience is the realization that the customer may not need to wait for these until the next major release.  The new capability,  PeopleSoft Update Manager (PUM), will allow customers to incorporate new functionality into PeopleSoft 9.2 when they become available in a manner much easier than the past methodology. PeopleSoft never left, always delivered value – but hey, they are here in a big way.”  

We indeed were invited to attend the 2013 Customer Advisory Board (CAB), and it was beyond useful. Suffice to say that Oracle is investing in PeopleSoft in a massive way, and its future is brighter than you can possibly imagine. What’s more, you can glimpse the direction Oracle is taking PeopleSoft in with version 9.2, which provides a user experience that’s absolutely the best PeopleSoft has ever offered.

PeopleSoft is flourishing in exciting ways. There’s no other way to summarize what we saw at the CAB.

The New Quest PeopleSoft Asset Lifecycle Management Special Interest Group (SIG)

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Our own Shannon Klabnik did some legwork in setting up the new Quest International User Group PeopleSoft Asset Lifecycle Management SIG. If you’re at all interested in any aspect of asset lifecycle management (ALM), this is something you should be part of. With great group leadership and enough expertise to fill a week’s worth of talks, it’s a perfect fit for organizations that are investigating or actively using PeopleSoft ALM.

Group details are here, and there’s even an official description:

This group would be targeted at this companies who are current PeopleSoft Maintenance Management, IT Asset Management, or Real Estate Management customers.

Please join! This group will be followed closely by Oracle, so it’s a great venue for learning and feedback.

NEWS: We’re Presenting an Education Track Session at RECONNECT 2013

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MIPRO Consulting is proud to be a featured presenter in the Asset Lifecycle Management and Project Costing track at RECONNECT 2013.  On Thursday, July 25th at 11:30am, please join MIPRO’s Steven Brenner as he discusses Lease Management Enhanced through PeopleSoft Real Estate Management.

In this session, Steven will demonstrate how Real Estate Management can streamline lease administration business processes, generate cost savings, better meet payment due dates and provide reliable reporting to fuel informed business decisions.  To learn more about PeopleSoft Real Estate Management, click here.

You’ll want to be sure and make room in your agenda for this session.

Session Specifics

Session Title:  Lease Management Enhanced through PeopleSoft Real Estate Management

Session ID:   #2013PSFT-100850

Track:  Asset Lifecycle Management and Project Costing

Date: Thursday, July 25, 2013
Time:  11:30 am – 12:20 pm

Location:  LaSalle A

Speaker: Steven Brenner, Senior Principal Consultant – MIPRO Consulting

Description

PeopleSoft Real Estate Management is a fully integrated solution for property lease management that streamlines site selection, lease administration and space management.  Real Estate Management’s built-in processing functions help to ensure that organizations make payments on time by automating rent generation, payment review and approvals, creating recurring rent schedules, including percent rent leases, operating expenses, security deposits, taxes, maintenance fees, accounting entries, allocations and workflow escalation.  Another key value of PeopleSoft Real Estate Management is real-time integration with your financial data and the ability to generate reports that fully reconcile with your organization’s general ledger.

About the Speaker

Steven Brenner serves as a PeopleSoft Senior Principal Consultant for MIPRO Consulting.  He has fifteen years PeopleSoft experience creating integrated solutions across the asset management, maintenance management, accounts payable, purchasing, ePro, real estate management and inventory modules.

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His project experience includes the entire PeopleSoft software development cycle with a proven track record in helping clients to integrate their business processes with PeopleSoft functionality and identify areas to improve efficiency through business process re-design.  His background includes extensive experience within the healthcare and public sector industries.

Steven is also a PeopleSoft 9.1 Financial Management Payables Certified Implementation Specialist and Certified Project Manager.

MIPRO’s Highlights From Alliance 2013

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MIPRO had quite a crew at Alliance 2013 in Indianapolis a few weeks ago, with four of our team members working our Silver Sponsor booth. And, as expected, the Higher Education User Group (HEUG) and the public sector industry made a solid appearance. A combination of PeopleSoft Enterprise Campus Solutions, Financials and HCM customers were in attendance with nearly 3,000 present at the  highly-targeted conference.

We held a kickoff evening reception on Sunday, March 17 — with our special green-tinted St. Patrick’s Day popcorn — which proved to be the opening highlight of the conference. On Monday, the theme for the day turned to re-fueling, and many of the attendees found their way to the MIPRO booth for a pit stop with a quick energy drink, and a chance to win the grand prize, our iPad mini. It is no secret that Alliance schedules more than enough to keep you running, and we tried to do our part to keep attendees energized.

Without question, the hottest topic of the show was the anticipated PeopleSoft 9.2 rollout. The PeopleSoft Roadmap Session was packed with folks eager to learn more about what is coming and when. And the folks at Oracle didn’t disappoint. The roadmap session was very well done, providing a detailed overview of where PeopleSoft is going and ensuring users that not only is the product here to stay, but further Oracle is committed to further investment and development. Among the most important developments in the new PeopleSoft are the improved user experience and the overall simplification of the software, eliminating the need for customizations. It’s quite amazing.

As an Oracle partner who was selected to beta test PeopleSoft 9.2, MIPRO experts have spent hundreds of hours with the new software, testing a total of 135 functions in the HCM, Financials and ALM modules. To learn more about our experience with the new version, check out this post or listen to our recent podcast on SearchFinancialApplications.com.

From a personal perspective, we observed that Facilities Management was of particular interest to MIPRO booth visitors — no surprise considering the significant opportunities it presents to higher education organizations. As the only consultancy in the United States that has been involved in the majority of Asset Lifecycle Management (ALM) deployments in North America, MIPRO is uniquely positioned to serve as a resource to the higher education industry. But don’t take our word for it — see what the Jefferson County Public Schools team has to say.

If you’re interested in discussing Alliance 2013, PeopleSoft 9.2 or Facilities Management further, don’t hesitate to reach out. The MIPRO team who attended the conference—Jeff Micallef, David Scott, and Tim Schinke – are standing by. We’d love to hear from you!

PeopleSoft Real Estate Management Overview Part 10: Reporting & Analytics, Plus Closing Comments

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Posts in this series so far:

Hello everyone, welcome back to the PeopleSoft Real Estate Management overview series.  This REM overview #10 and our final blog in the series.  Today’s topics are Real Estate Management Reporting & Analytics and closing comments.

Before we discuss REM reports, I would like to briefly cover My Lease Portfolio and My Critical Dates again.  These “inquiry style” pages allow for quick access to your leases and a discussion of REM reports would not be complete without mentioning these pages too.

To read about My Lease Portfolio and My Critical Dates in more detail please see REM overview post #2.

My Lease Portfolio

The My Lease Portfolio Page allows you to manage and track leases.   Through its search criteria section, the page automatically displays all the leases for which you are the Lease Administrator or Portfolio Manager.  The page provides high level details to your leases and also provides a link drilldown to your leases.

(Click all images to enlarge)

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PeopleSoft Real Estate Management Overview Part 9: Payables/Billing, Expense Audits and Security Deposits

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Editor’s note — here are all the posts in this series for easy reference:

Welcome back to the Real Estate Management overview series.  I hope everyone was able to enjoy the holidays.  We are now nearing the end of the REM series, and for this edition we will be covering further details on Payables and Billing integration, Operating Expense Audits and Reconciliation, and Security Deposit functionality.

Before we get started I want to point out that I will be using Payables integration (tenant leases) for our main examples but please note that the concepts discussed in this session also apply to Billing integration as well.

Payables and Billing integration

During the lifecycle of a lease, various payments are generated and then subsequently submitted to the AP department and ultimately to the payee for payment.  REM allows you to select leases for payment by a number of different criteria such as BU, lease number, lease administrator, etc., as seen in the Search Criteria section in the screenshot below.

(Click to enlarge all images)

To generate these payments, PeopleSoft utilizes the REM Transaction Generator, REM Transaction Queue and the REM AP/Billing interface to automatically generate rent and other related lease payments with the respective payee and accounting information included.  In addition you have the option to put payments on an auto-approve schedule or require approval for payments in the Transaction Queue before submitting to AP/Billing.

From a personal perspective, the integration from REM to AP/Billing is one of my favorite features of the REM application.  Real Estate departments are usually driven by monthly cycles and often payments requests can require several approval rounds before being released to the AP/Billing departments.  This can often lead to struggles in meeting very tight payment deadlines and in certain circumstances it requires special handling between departments to avoid late payments.  With PeopleSoft REM, the automatic integration process can better facilitate payments made against those tight deadlines and virtually eliminate the need for special handling since all the underlying accounting information is included in the delivered REM to AP integration.

Talking in more detail about the REM payment approval process, REM also allows you to review payments for approval by a number of different ways including BU, lease number, lease administrator, etc.  If a lease is placed in dispute the system can also automatically place all pending payments for that lease on hold as well.  Additionally, the REM to AP/Billing integration includes a built in error checking process to verify that all accounting information is valid at the time of payment and in synch with your general ledger.

Performing Operating Expense Audits and Reconciliations

 

From a definition standpoint, operating expenses are the cost of maintaining a property or building which includes utilities, taxes, insurance, maintenance, cleaning, advertising and promotion, etc.  With PeopleSoft REM you can elect to either pay (or bill) these expenses for the actual amounts or you can alternatively elect to use recurring estimated amounts and perform year end operating expense audits as a tenant (or perform operating expense reconciliations as a landlord).

As part of the audit/reconciliation process, REM provides audit and reconciliation pages where you can load the actual amounts and run a REM process that will calculate the over/under amounts against the estimated payment amounts and then can automatically create the adjusting payments/credits.  The REM system also allows you to set thresholds against your estimates and also has the ability to perform year to year audit comparisons.

Processing Security Deposits and Refunds  

As defined, a Security Deposit is part of the lease financial terms.  REM comes delivered with several security deposit types but the field is user defined.

Delivered REM security deposit functionality allows you to have a different payor/payee from the lease, multiple security deposit types per lease and include an approval process.  For processing security deposit refunds, for “landlord leases” REM includes a Security Deposit “Refund Worksheet” where you can add interest for outstanding deposits, adjust for missing rent payments or deduct for any damages assessed.

This concludes this week’s REM overview. Our next post will be the last in our REM series where we will discuss REM reports and analytics. Until then, see you next time, and thanks for reading.

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