Oracle’s PeopleSoft Named Best in KLAS for Financials/ERP Software in Healthcare
Redwood Shores, Calif. – Jan. 31, 2012
KLAS has named Oracle’s PeopleSoft best Financials/ERP software in its "2011 Best in KLAS Awards: Software & Services" report.i The annual report ranks the best-performing healthcare IT vendors in more than 100 market segments based on ratings from over 18,000 interviews with healthcare providers.
The overall performance rating is calculated from individual scores for 25 questions that enable healthcare providers to rate the product/vendor in the areas of Product Quality, Sales & Contracting, Implementation & Training, Functionality & Upgrades, Service & Support and General.
KLAS defines the Financial/ERP market segment as Enterprise Resource Planning (ERP) vendor products and components that provide some or all of general accounting, asset management, HR & payroll, AP and materials management.
KLAS is a healthcare technology research firm that specializes in monitoring and reporting the performance of software, services, medical equipment and infrastructure vendors. Working with thousands of healthcare executives from hospitals and clinics in North America, KLAS collects performance feedback to deliver timely reports, trends and statistics that provide a solid overview of vendor performance in the industry.
Oracle offers comprehensive, end-to-end solutions to the healthcare industry to support best practices and help decrease costs. Oracle's healthcare-specific applications help health care providers deliver quality care and decrease patient safety concerns through the integration of clinical data and the ability to analyze patient-specific information.
Oracle’s PeopleSoft 9.1 is a complete ERP suite that helps companies operate more efficiently, saving time and money. The latest release was developed with feedback from more than 150 customers, and offers a broad range of new features designed to accelerate business performance, increase user productivity and lower the cost of ownership. PeopleSoft Financials 9.1 helps organizations achieve world-class finance processes by dramatically improving the period close, helping maximize cash, reduce liabilities, and further automating compliance and financial control.
“We implemented Oracle’s PeopleSoft to integrate on a single vendor, with common applications; to deploy systems and reporting tools that could deliver more timely and efficient data to management; and to make the hospital’s IT staff true business partners,” said Timothy O’Connor, executive vice president and CFO, Lahey Clinic Medical Center. “With PeopleSoft as our ERP system we have achieved those benefits, and we have been able to reduce costs and find new efficiencies in payroll purchasing and accounts payable, even as the number of transactions in the latter has doubled. By integrating all our business processes on PeopleSoft, we are able to save between US$2 million and US$2.5 million annually by rationalizing our purchasing and leveraging our scale to negotiate lower prices for materials and equipment.”
“Since 1998, KLAS has been committed to helping healthcare providers make decisions based on candid peer feedback," says Adam Gale, KLAS president. "Best in KLAS rankings mark those vendors who best keep their promises in their market segments for offering a combination of superior products, strong service, and high customer value. We hope these ratings continue to help providers find transparency from their vendors in making purchasing decisions."
“Oracle is honored to receive the Best in KLAS award for Financials/ERP for the healthcare market. This designation underscores our on-going commitment to help healthcare organizations lower costs while improving care delivery and outcomes,” said Marc Perlman, global vice president, Healthcare and Life Sciences, Oracle. “Oracle’s PeopleSoft 9.1 applications enable healthcare organizations to achieve the transparency required to drive operational improvements across their enterprises, increase efficiency and effectively manage complex organizations and workforces. This award is extraordinarily significant as it reflects the voice of our customers based on objective criteria versus the responses from other vendors’ customers in this space.”
KLAS is a research firm specializing in monitoring and reporting the performance of healthcare vendors. KLAS’ mission is to improve delivery of healthcare, by independently measuring vendor performance for the benefit of healthcare provider partners, consultants, investors, and vendors by collecting accurate, honest and impartial provider experiences. Working together with executives from over 4500 hospitals and over 2500 clinics, KLAS delivers timely reports, trends, and statistics, which provide a solid overview of vendor performance in the industry. KLAS measures performance of software, professional services, medical equipment, and infrastructure vendors. For more information, go to www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative. Follow KLAS on Twitter at www.twitter.com/KLASresearch.
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