At its Connect 2002 EMEA user conference in Paris this week, PeopleSoft Inc. announced two new products–risk management software and a global solution for the staffing industry–as well as enhancements to its payroll software.
PeopleSoft, of Pleasanton, Calif., announced Tuesday Version 8.8 of its Enterprise Performance Management (EPM) suite that is geared toward helping companies prepare for upcoming federal regulations being proposed.
The Basel Capital Accord–or Basel II–establishes a framework for banks, using internally generated risk assessments to measure risk and determine sufficient capital requirements to cover losses. New regulations are expected to be implemented by 2006.
The new version of EPM features risk management capabilities that will enable banks to more easily measure the full spectrum of risk types, including credit and operational risk, officials said.
Built on PeopleSofts banking module, Version 8.8 adds a Risk-Weighted Capital application that provides complex risk capital calculations and offers Basel II algorithms and data structures that capture historical loss events.
EPM 8.8 will be available in the first quarter of 2003.
Separately, PeopleSoft announced its namesake suite for staffing that enables the integration of front- and back-office operations so staffing companies can match the right skilled person with an appropriate job.
PeopleSoft Staffing helps companies automate the management of clients, employees, job orders, payroll and billing within a centralized data source.
The software, available now, supports multiple currencies and languages as well as global payroll and billing functions.
Looking to internal human resource departments, PeopleSoft also announced Tuesday the expansion of the geographic capabilities for its Global Payroll software to include the Netherlands, Malaysia, New Zealand, Singapore, India and Brazil.
The enterprise resource planning providers Global Payroll software has the ability to administer and consolidate pay information across multiple geographies and work forces on a single database, officials said. The Global Payroll engine provides control over a number of payroll processes, including absence management, regulatory and statutory requirements.
PeopleSoft 8.8 Global Payroll extensions are expected to be available early next year.