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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Charles T. Russell who wrote (4296)	1/21/1999 12:10:00 PM
From: bob zagorin	Read Replies (2) \| Respond to of 4509

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.

To: Charles T. Russell who wrote (4296)	1/21/1999 5:39:00 PM
From: Melissa McAuliffe	Read Replies (1) \| Respond to of 4509

Charles, Where are you getting your information? I don't ever remember reading anywhere that MMTM would be hiring their own sales force and I doubt that's true anyway. Why would MMTM need to hire a salesforce when PSFT already has a salesforce which is very large and would be covering the exact same accounts? You talk about taking PSFT core technology and aiming it at specific vertical markets. What vertical markets are there that PSFT is not already covering? The e-commerce solutions were announced at the PSFT user group meeting so one would think these are going to be PSFT products offered by PSFT> Somewhere I read PSFT had the first right of refusal on the products MMTM develops which makes perfect sense to me. What am I missing? Melissa