State of Connecticut Modernizes Its Application Environment With PeopleSoft Enterprise Applications(email this article)

PLEASANTON, Calif.--(BUSINESS WIRE)--Nov. 5, 2003-- PeopleSoft (Company Profile, Past Stories, Case Studies), Inc. (Nasdaq:PSFT - News) today announced that the State of Connecticut implemented PeopleSoft's Enterprise Financial Management and Enterprise Supplier Relationship Management (SRM) solutions. The deployment marks the first major milestone in Connecticut's ambitious Core-CT project, a multiyear, $100 million initiative designed to renovate the State's entire application environment with PeopleSoft® solutions. PeopleSoft's Financial Management system enabled the State to move to a single financial system with common business processes. PeopleSoft® SRM has improved the management of Connecticut's portfolio of 80,000 vendors, 2,000 suppliers, and more than 3 million catalog items with a consolidated procurement process.
More than 65 public agencies across Connecticut now use PeopleSoft® Financial Management and SRM to manage state business functions, from accounting to purchasing. "Going live on PeopleSoft is nothing short of a revolution," said Connecticut State Comptroller Nancy Wyman. "Our new PeopleSoft system takes Connecticut out of the Information Dark Ages and into the 21st century, dramatically improving the way we run our operations."

The State of Connecticut deployed PeopleSoft Financial Management and SRM solutions including General Ledger, Receivables, Payables, Purchasing, eProcurement, and Catalog Management. With PeopleSoft Financial Management solutions, Connecticut can now utilize a single, online finance system that standardizes statewide business processes and improves employee access to information. In addition, accountability and control are increased through best practices such as commitment control -- a feature that enforces spending within budget. As a result, reporting on public sector expenditures is streamlined through a single source of financial information and the implementation of statewide account coding standards.

PeopleSoft's SRM solution enables 60,000 state employees to streamline and control the procurement of more than three million items, from office supplies to capital equipment. In addition, PeopleSoft Catalog Management delivers a centralized source for product data, making it easier for users to log on and quickly locate the item they need.

"Connecticut is in the vanguard of progressive states that are consolidating their entire state management functions onto a single system," said Kevin Horigan, vice president and managing director, PeopleSoft Education and Government. "PeopleSoft's industry leading solutions are enabling states to overcome the challenges of tight budgets and scarce resources to improve accountability to all constituents at lower costs."

In Phase II of the Core-CT project, the State will implement PeopleSoft's Human Capital Management and Enterprise Portal solutions to modernize its employee benefits and communications systems.

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