Wednesday Dec 10, 2014

Cool Tools You Can Use: Asset Management’s Mass Transaction Manager

The Cool Tools You Can Use series describes a business challenge, the PeopleSoft solution to the challenge, and how you can learn more. This posting focuses on Mass Transaction Manager.

Being able to adjust and transfer many assets at once without IT intervention is essential to efficient asset management. To reduce the demands on IT and to simplify the process of making mass updates to assets while improving the controls and governance over the execution of changes, PeopleSoft 9.2 now converts from the use of Mass Change to a new framework called Mass Transaction Manager. All of the former Mass Change transactions are available in Mass Transaction Manager so that an organization can switch to Mass Transaction Manager and no longer rely on Mass Change. Additionally, if an organization chooses to create its own mass update transactions, the Mass Transaction Manager offers a much-improved interface for developers and users.

The new Mass Transaction Manager offers significant improvements over the PeopleTools Mass Change tool. With Mass Transaction Manager, Asset Management acquires a user-focused, instead of IT-focused, interface for running mass updates. Enhanced prompts with subordinate keys appear in an easy-to-understand user interface. Key benefits of Mass Transaction Manager over Mass Change include no need to enter data multiple times, row-level security, the ability to execute processing logic, and confidence that the most current version of the updates is being run. Although Asset Management is the first PeopleSoft application to make use of the Mass Transaction Manager tool, its rich framework can be used by other applications in the future to improve the governance of their mass update processes.

To learn more about Mass Transaction Manager, please review the Mass Transaction Manager section of the PeopleSoft Asset Management online documentation.

Wednesday Nov 12, 2014

Oracle Value Chain Summit 2015: Enabling Agents of Change

The 3rd annual Oracle Value Chain Summit will be held January 26 – 28, 2015 in San Jose, California.  This event provides a unique venue for value chain leaders to gather and share how they are driving innovation.  See how your peers are changing the game, learn the latest industry trends, and develop strategies for success in our Maintenance Solution Area.  If you would like more information about the event, please visit the event site at www.oraclevaluechainsummit.com.

On Thursday, January 29, Oracle will host an in-person meeting of the PeopleSoft Maintenance Management Focus Group.  The PeopleSoft Maintenance Management Focus Group provides customers with an open forum for collaboration with member organizations and PeopleSoft Product Management.

Participation in the focus group provides the opportunity to:

  • Suggest prioritization of features within an initiative
  • Review and validate product direction
  • Help clearly define and review requirements
  • Share and review use cases
  • Provide feedback on prototypes
  • Share ideas, best practices, challenges and solutions with member organizations

Each customer is limited to 3 representatives, and must have a signed and valid Customer Participation Confidentiality Agreement (CPCA). If you are interested in attending the 2015 PeopleSoft Maintenance Management Focus Group meeting, please contact Loida Chez.

Tuesday Aug 02, 2011

IASB and FASB to re-expose proposal on upcoming lease accounting changes

On July 21, the International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) announced they would re-expose their revised proposals for a common leasing standard. This standard is being developed as a joint convergence project for IAS 17/ASC 840 (formerly FAS 13).

While re-exposure for the Boards can be somewhat atypical, the decision to do so in this case was not surprising considering the vast scope of the proposed changes. In a sense, introducing a new comment period seemed unavoidable as there have been significant revisions to the initial exposure draft since it was first published back in August 2010.

What does this mean in terms of timing? A revised exposure draft is expected in the fourth quarter of 2011, with the final standard sometime around mid-2012.  From an adoption standpoint, there is no official effective date (as of yet), however the Boards have previously communicated that it likely would not be any earlier than 2014. There’s a good chance that their decision to re-expose may push that out even further, although that is purely speculation at this point.

Some of the causes for the delays have been a much larger than expected number of responses, significant concern over the cost of reassessing all leases, and comments that the complexity of measurement could spiral to unsustainable levels. The biggest gray area, however, centers on the lessor accounting model. The original overarching goal was to have a single lease standard for both lessee and lessor accounting. The Boards have been discussing whether to have one or two lessor accounting models – the FASB has been leaning towards two (as proposed in the exposure draft), while the IASB seems to prefer a single model. It’s possible that this difference of opinion could result in the Boards breaking down the lease standard, which may allow them to issue the lessee accounting standard (somewhat on time), while delaying the lessor accounting standard to an unknown future date.

So what does all this mean for PeopleSoft customers? As always, Oracle has been monitoring the development of the new standards and our Applications Unlimited and Fusion Development teams have been working closely together to analyze the changes and craft a consistent solution. We are also providing feedback to the Boards from a software vendor perspective to ensure they allow the industry a reasonable timeframe to accommodate the new standards, as well as provide customers enough of a window for implementation and conversion.

From a product perspective, the lease accounting changes primarily impact the PeopleSoft Asset Management and Real Estate Management products, part of the PeopleSoft Asset Lifecycle Management (ALM) suite. The new standards introduce significant functional overlap between our products, which is good in that it will allow us to better leverage our shared feature set (and vast integrations across the FSCM environment) as we add new capabilities.

We invite customers to participate in providing feedback on our design enhancements for lease accounting. If you are interested, please send an email to mailto:howard.shaw@oracle.com or mailto:loida.mcdearis@oracle.com. Stay tuned, as we will continue to comment as more developments arise.

About

This blog is dedicated to topics focused on PeopleSoft Applications, including Human Capital Management, Financials, Enterprise Service Automation, Asset Lifecycle Management, Procurement, Supply Chain and Customer Relationship Management.

For information about legislative updates to our PeopleSoft Applications see the PeopleSoft Legislative Updates Blog.

For information about PeopleTools see the PeopleSoft Technology Blog.

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