The ANZ Bank is the first major Australian company to purchase PeopleSoft 8 as part of its e-transformation strategy.
The Internet solution will replace the bank's disparate core administration systems and will be rolled out over the next 18 months.
In addition to streamlining administrative processes and reducing costs through automated workflow and self-service capabilities for staff the solution will eliminate double handling of data.
The Common Administration System (CAS) project involves the implementation of PeopleSoft applications for human resources, payroll, general ledger, forecasting, fixed assets, procurement and accounts payable.
While not disclosing the cost of the implementation, ANZ Bank's outsourcing and corporate services division general manager Peter Donald said in addition to purchasing the technology PeopleSoft has won the contract to manage the human resources and payroll component of the project.
"We were impressed with the open architecture of the PeopleSoft technology; it is also a strong enabler of internal culture change," he said.
"Regardless of whether ANZ staff are based in Melbourne or Auckland they will be able to access the HR system to manage and update their personal information as well as accessing salary details, check leave entitlements and request holidays."
PeopleSoft operations director Rob Wells said the solution will provide the tools for staff to increase customer service satisfaction and allow the bank to deliver competitive advantage. w