PeopleSoft has announced MarketPay, a pure Internet financial settlement system built for B2B trading exchanges. Currently scheduled for general release in the first quarter of 2001, PeopleSoft MarketPay completely automates the procure-to-pay processes for B2B exchanges.
"PeopleSoft sees significant opportunity for PeopleSoft MarketPay," says Jan Coetzee, MD of PeopleSoft SA. "MarketPay will provide all the services and functionality required to purchase, receive, reconcile and pay. It is the centerpiece of PeopleSoft`s solution designed to get customers up and running on their own B2B exchanges."
In addition, PeopleSoft MarketPay will leverage the strength of PeopleSoft Financials modules and their global features, and will include multi-currency and multi-lingual processing. A large consortium of international banks already has agreed to implement the solution.
According to Jupiter Communications, "Everything we`ve seen has been solely North America-based and those solutions haven`t been global. They can`t handle multi-currency, multilingual or other global elements that come into play with true business-to-business activities. PeopleSoft MarketPay is the only one that does."
(A research report from Jupiter Communications on U.S. B2B Internet Trade Projections can be accessed online at www.jup.com)
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PeopleSoft is a leading provider of eBusiness applications that enable customers, employees and suppliers to `people` power the Internet. PeopleSoft`s pure Internet Customer Relationship Management, Supply Chain Management and Enterprise Management solutions provide the industry`s most open and flexible e-commerce platform. PeopleSoft employs more than 8,000 people worldwide, including 2,400 eBusiness consultants. More than 4,500 organisations in 107 countries run on PeopleSoft eBusiness applications. www.peoplesoft.com