PEOPLESOFT INC (Nasdaq: PSFT)
News January 20, 21:28 Eastern Time
JAN 20, 1999, M2 Communications - PLEASANTON, CA -- PeopleSoft, Inc., a leading provider of enterprise application software, has been selected to provide human resource management solutions for Wells Fargo & Company, which recently merged with Norwest Corporation. Before the merger, Norwest had licensed PeopleSoft HR solutions, while Wells Fargo used another vendor package.
From their two HR and payroll vendors, Wells Fargo selected one solution that offered flexibility for the future. PeopleSoft was selected based on its ability to provide solutions that would seamlessly consolidate information from the two companies, provide strategic business benefits, and support the increased emphasis on team member and manager self service.
"PeopleSoft's advanced architecture provides the flexibility to make efficient system enhancements and allows us to reduce the bureaucracy and paperflow within the human resources department," said Patricia Callahan, executive vice president and human resources director, Wells Fargo. "We chose PeopleSoft because it is simply the right system for the future."
Two PeopleSoft modules will be implemented across the company: PeopleSoft Human Resources, a comprehensive set of solutions for attracting, developing, retaining and retiring employees; and PeopleSoft Payroll for processing payroll data such as payroll calculation, tax computation, check preparation, payroll reporting and tax reporting. These applications will service a workforce of more than 100,000.
"With expertise in the financial services industry, PeopleSoft understands the complex needs and pressures associated with a large-scale merger," said Robert French, general manager, PeopleSoft Financial Services Business Unit. "As Wells Fargo continues to grow with its new capabilities, the company can be assured that we are committed to providing flexible solutions to improve efficiency and meet its changing needs."
Wells Fargo is scheduled to go live with PeopleSoft solutions on July 1, 1999.
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