Cloud technology and cloud applications delivered in a SAAS model is a model going forward that will continue to gain prominence and is the direction in which the industry is heading. While Oracle has committed to supporting Peoplesoft applications until 2032 and also enhancing some of its capabilities, the greater part of Oracle’s investments is in the Oracle Fusion Cloud HCM application. Oracle Fusion Cloud is part of a broader suite of Cloud Applications with deep integrations and is very comprehensive in terms of its functionality and capabilities. Newer-built Oracle Fusion Cloud HCM applications have more different capabilities than PeopleSoft, allowing more efficient automation for customers.
Let’s compare the two products. By the time you’re done, you will likely decide that there is no better time than now to move to Oracle HCM Cloud.
What Is Oracle HCM?
Also known as Oracle Fusion Cloud HCM or Oracle HCM Cloud, this complete suite of products tackles day-to-day HR operations, such as recruitment, training, compensation, and employee development. Meanwhile, it also helps HR teams address long-term human capital management challenges such as employee retention and engagement.
As a leading platform, Oracle HCM has been named the leader in cloud HCM suites for 1,000+ employees in the 2021 Gartner Magic Quadrant. Over 80% of its product innovations are driven by customer feedback and suggestions.
Oracle HCM Modules
This Oracle cloud application is made up of 24 modules grouped among five major areas:
- Human Resources. Address employee concerns, assess workforce plans, and make long-term projections that will benefit various levels of the organization with the HR module.
- Talent Management. Give your recruiters and headhunters unprecedented control over all aspects of the talent lifecycle—recruitment, onboarding, career development, an opportunity marketplace, and succession planning.
- Workforce Management. The workforce management tools in this HCM software let you align employee goals with the overall business strategy—including time and labor, workforce health and safety, and absence management tools.
- Payroll. This module contains payroll localization for a number of regions across the globe, automatically adjusting to comply with local tax and compensation laws.
- HCM Analytics. Gain valuable insights across all aspects of your human capital processes with a combination of built-in and customizable dashboards, collaboration tools, and integration platforms for extracting third-party data.
What Is PeopleSoft?
PeopleSoft is a developer of enterprise resource planning (ERP) software and automation solutions that was acquired by Oracle in 2005. It offers a full suite of standard ERP features designed to meet complex human capital needs.
PeopleSoft customers enjoy the flexible industry and business solutions with ready integration for businesses of all sizes. By automating core business processes, they can cut down on compliance costs while improving productivity.
The features of PeopleSoft HCM can be grouped into five main modules:
- Global Core HCM. It serves as a central data facility for the entire organization. At its center is a company directory, and it extends toward analytics and self-service functionality—the latter two empowering employees to access information relevant to their work.
- In-Memory Labor Rules. This module helps companies create data-driven decisions with real-time analytics, keeping them compliant with relevant labor laws. Depending on where the business is located, the platform can generate labor rules regarding employee work schedules, workplace hazards, and more.
- Talent Management. Similar to its Oracle HCM counterpart, PeopleSoft covers the entire talent lifecycle from recruitment to succession planning.
- Workforce Management. Geared toward helping companies optimize labor costs with solutions for time and labor, scheduling, and absence management.
- Workforce Service Delivery. By utilizing collaboration tools, particularly SAP JAM, employee self-service can combine with HR functions to streamline processes. This makes it easier to approve leave applications, draw updated employee information, and transmit internal communications.
Oracle HCM vs. PeopleSoft: UX, Price, Availability
What makes the Oracle HCM vs. PeopleSoft debate tricky is that there are many considerations in choosing one to meet your particular business needs. Choose the better solution based on your organization’s size, industry, and relevant HCM processes for user experience, deployment, or cost.
To help you decide, below are key factors to consider in how the HCM applications Oracle HCM and PeopleSoft differ from one another:
Oracle HCM meets changing needs better by using the Oracle cloud environment, enabling faster updates and new module deployment. The learning curve for full utilization of the platform requires significant effort, and teams must keep up with changes.
Oracle also continues to adapt to changing IT and HCM needs, most notably by having low-code and no-code tools integrated into the solution. This helps ease up the technical gap some users experience, as mentioned above.
On the other hand, the more dated PeopleSoft is more resilient and robust. It uses a proprietary language called PeopleCode. Employees engaged with the platform can use this language to modify most parts of the platform.
Although learning the language offers exceptional platform control, it holds minimal to no value outside of PeopleSoft products.
Since it was released in 2011, Oracle continues to deploy new versions of its software. However, using it with other SAP products such as S/4HANA requires compatibility packs to ensure communication between the two platforms.
Oracle announced extended support for Peoplesoft up until 2032, giving existing users the opportunity to migrate to the main product and set up Oracle HCM training programs in preparation.
Leverage the Right HCM for Your Business
While Oracle HCM and PeopleSoft have served countless companies through the years, the impending decommissioning of the latter necessitates moving to Oracle Cloud HCM.
We cannot overstate the value of modern HCM solutions. The Internet of Things transforms modern human capital management, presenting opportunities to enhance employee engagement and daily HCM processes.
In this regard, NexInfo has over 20 years of experience deploying HCM solutions, aside from the standard ERP platforms. With our NexInfo Cloud Adoption Model, you get to enjoy deployment and support unmatched in the industry. To learn more about Oracle HCM and how it can help your business, contact the NexInfo team today.
Featured image credits: Edmond Dantès