A look back at the PeopleSoft FSCM's hottest features of 2022 – Part I

January 9, 2023 | 6 minute read
Charlotte Jorgenson
Senior Director, Product Strategy
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The Oracle PeopleSoft team continues to deliver new and enhanced functionality designed to help drive organizational effectiveness, provide decision support tools to facilitate intelligent business execution and offer customers more flexibility through the use of additional configuration options, integrations, and new tools capabilities. Through the mining of ‘Idea Space’, Ideas submitted and supported by our customers, Customer Focus Group meetings, inputs from Partners and Sales teams, and PeopleTools technical updates, we managed a Roadmap of both strategic and tactical enhancements for delivery during 2022.

Here are some of the 2022 deliverables in PeopleSoft Update Images 434445 and 46 we’ve heard provided significant impact when adopted by an organization or enabled customers to build a compelling business case for selectively adopting some of these new features.

In this 2-part series, we’ll highlight the first two Strategy and Development themes where we provided a combination of Strategic Initiatives as well as improvements requested by Customers and Partners.


Support Decision Making with Actionable Analytics

Analytics for Asset Management

Data analytics for Asset Management was introduced in PeopleSoft FSCM Update Image #43 (March 2022).  Two new Analytic dashboards were added for greater visibility into the accounting period and year-over-year asset cost, depreciation, amortization, and more.  The Asset Analytics dashboard allows you to analyze asset data for an AM BU, book, fiscal year, and accounting period.  It offers visualizations of total Asset Count, Cost, and Net Book Value.  The Year-Over-Year Asset Analytics dashboard allows you to view trends of asset activity and the financial impact. You can learn more about these Asset Management analytics via this Video Feature Overview: PeopleSoft Analytics for Asset Management - YouTube


Inventory Lot Control and Expiration Activity Analytics

This enhancement was introduced in PeopleSoft FSCM Update Image #44 (June 2022).

Added two new Kibana dashboards to the Inventory Activity Analytics. Item Lots Approaching Expiration Date dashboard helps to analyze the Item lots approaching expiration date and Non-Viable Item Lot Analysis dashboard helps to analyze expired item lots. We created  blog on these new Analytic Dashboards as well as a Video Feature Overview: PeopleSoft Inventory Lot Expiration Analytic Dashboard - YouTube

PeopleSoft Billing Analytics Dashboards

PeopleSoft Billing delivered analytics dashboards in PeopleSoft Update Image #44 (June 2022) that enable Billing Specialists and Managers the ability to proactively monitor billing operations.  PeopleSoft Billing integrates with several source systems including PeopleSoft Order Management, Contracts, Projects as well as third-party system for enterprise-wide billing operations. The new dashboards can help Billing Managers in rebalancing of Billing Specialist workload and ensure that invoices received from multiple feeder systems have been processed in a timely manner. For additional information, please check out this blog post: Monitor Operations Using PeopleSoft Billing Analytics Dashboards (oracle.com)

Accounts Receivable Analytic Dashboards 

Collectors and Collection Managers now have at their disposal, a group Actionable analytics based on Accounts Receivable Aging Detail and Accounts Receivable Aging History. These dashboards, delivered in PeopleSoft Update Image #45 (September 2022), give your Collectors and Collections manager greater visibility into receivables aging activity and history. These analytics can help increase collection efficiency, and identify areas where receivables have passed the acceptable aging thresholds. The information should provide users with actionable options to reduce the DSO and take proactive steps remediate anything threatening collection goals and targets. With a flexible set of out-of-the-box filters fitted to the role of the user and details behind the metrics, the collections group should be able to enable action plans if warranted.

Streamline process

Streamline Processes through Automation and Collaboration

Receipt Management for Expense Reports

One of the top requested 'Idea' in the Idea Space, which we addressed In PeopleSoft Update Image #43 (March 2022), was the enhancement to the receipt requirements for Expense Reports. With this new feature, Organizations can configure the system to prevent the submission of an Expense Report if Receipts are required for the detail lines and none are detected and no reason why is provided. The user is able to SAVE the Expense Report but depending on the configuration of the Receipt Required policies, may not be able to submit it into the approval queue until specific information is provided. See more details about this and other recently delivered new features in this Video Feature Overview. If you prefer reading a blog on this topic, you can find a more detailed description of the capability here: "New Receipt Enforcement Policies" in PeopleSoft Expenses prevents submission of Incomplete Reports (oracle.com)

Chatbot Enhancements to the Supplier Public and Secure Portal

Visitors to the Supplier Portal may need help or guidance on how to find and respond to Bidding Opportunities. To assist in that, in PeopleSoft Update Image #44 (June 2022) we added the Sourcing Skill to the Supplier Digital Assistant, which is part of PeopleSoft Intelligent Chatbot Assistant from Oracle (PICASO), to the Supplier Public and Secure Portal. Users can use this interactive conversational skill to inquire about Bid Opportunities, Events Pending Awards, and Awarded Events. See how PICASO Digital Assistant guides your Bidders and Suppliers through a simple conversational exchange: PeopleSoft Secure Supplier Portal - YouTube.

User-defined Item Fields

This enhancement, introduced in PeopleSoft Update Image #43 (March 2022) added an additional 26 user-defined fields of various sizes to the Item record. Over the years, customers consumed the original 24 user-defined fields and needed additional fields to support their varied and updated business needs.  We added these 26 additional fields to allow expansion of customer data that can then be used for searches and reporting. Check out this blog about these additional user-defined fields: Capture Your Own Item Information and Track Needed Attributes Leveraging the Many Peoplesoft Custom User-Defined Fields (oracle.com)

General Ledger Customers Asked…and We Delivered

Although General Ledger is one of our more mature Financials modules, we know there is still room for improvements that increase user efficiency. The My Oracle Support Idea Space is a gold mine of ideas for General Ledger enhancement suggestions created and voted on by interested organizations.  Some of the key enhancements added in 2022 from the PeopleSoft General Ledger Idea Space:

Delivered PeopleSoft Update Image #44:

  • We enhanced the Fluid Financial Structure Requests feature to update tree structure and node information from the Structure Request Detail page. 
  • Enhanced the Fluid Approval feature for journals so that you can automatically approve and post journals in one action. This feature removes the requirement to run the Post Journals process separately.
  • We added the Delete Source Data feature for the generic accounting table, which stores third-party data. When importing data from third-party sources, the data could be invalid and can build up over time. The Clear Generic Accounting Entry page now allows you to delete invalid and old data from the generic accounting table.

Delivered PeopleSoft Update Image #45:

  • We enhanced the Pending Approval, Journal Entry page to display the Analysis Type from the line entry.
  • Enhanced the Journal Upload spreadsheet to display the journal source on the lines sheet.

Accounts Payable and Accounts Receivable Single Payment Voucher for Processing Refunds

In the past, Receivables departments who process refunds to customers follow a process that requires a new Supplier to be created and mapped to the customer to whom the refund is being issued, thus proliferating the entries in the Supplier Tables.  Even if this is a one-time refund, the primary Supplier table has to be setup with a new Supplier which makes that table grow exponentially for as many refunds that are processed over time.  To make this process more efficient, we have enhanced both the setup required and processing options in PeopleSoft Update Image #44 (June 2022). With this new process, organizations can create a refund using a generic one-time Supplier, without needing to define a permanent and persistent Supplier ID simply to do a refund. The Accounts Receivable refund process was enhanced to utilize both the Single-Payment Supplier and Voucher.  The associated process have been enhanced to respond to these changes thus streamlining the refund process resulting in less manual work on the part of the finance users.

Check out Part 2 of this blog post, where we highlight major User Experience improvements we did as well as provisions we made for compliance to new Legislative and Regulatory Requirements for both Domestic and Global Organizations.

Charlotte Jorgenson

Senior Director, Product Strategy

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