[October 04, 2004] PeopleSoft and Deloitte Launch New Service to Address Corporate Governance LONDON --(Business Wire)-- Oct. 4, 2004 -- UK Organisations to Leverage Industry-Leading Software and Consulting Services for Evolving Compliance Needs Today at its Connect EMEA 2004 user conference, PeopleSoft Inc. (Nasdaq:PSFT) introduced Governance Jumpstart, a combination of software and services that will enable organisations to more effectively address evolving regulatory and compliance requirements. The new service combines Deloitte's expertise in risk management and internal controls with PeopleSoft's deep experience in applying best practices to automate financial processes for compliance. Governance Jumpstart addresses IFRS, Sarbanes-Oxley, and Basel II regulations for compliance and will initially be offered in the UK. Recent corporate scandals have prompted regulators and the accounting profession to develop new directives and standards that will improve the soundness and stability of financial markets. As a result, organisations need flexible IT infrastructures to execute a long term compliance strategy for efficient and rapid response to evolving regulatory requirements. Governance Jumpstart provides organisations with a compliance benchmarking analysis from Deloitte and PeopleSoft. The benchmark analysis will assess an organisation's compliance systems and processes currently in place, and provide recommendations to improve business processes and the supporting IT infrastructure. "Over the next two years companies will face a dramatic increase in the volume of regulatory reporting," said Jeffrey Mann, vice president at META Group, a leading provider of IT research, advisory services and strategic consulting. "European organisations should be working now to develop robust, stable, and auditable IT environments to avoid a frantic, wasteful scramble to meet deadlines." "CFOs today are walking a tightrope. They must balance the short term demands of regulation and cost control while considering strategies to ensure long term sustainable compliance," said Guy Dubois, executive vice president of PeopleSoft International Operations. "Together, PeopleSoft and Deloitte offer organisations across Europe a powerful solution to leverage best practices in business processes and technology for compliance." "This new service sends a strong signal to our customer base and to the market place," said Matthew Stephenson, partner in Consulting at Deloitte. "PeopleSoft's leading enterprise applications for compliance, combined with Deloitte's experience in risk management, business case development, process design, systems integration, and project and change management capabilities, create a new combination of skills which will help customers achieve regulatory compliance easier than ever before." This new service involves no equity or other form of investment by PeopleSoft or Deloitte. About PeopleSoft PeopleSoft (Nasdaq:PSFT) is the world's second largest provider of enterprise application software with 12,400 customers in more than 25 industries and 150 countries. For more information, visit us at www.peoplesoft.com. About Deloitte In this press release references to Deloitte are references to Deloitte & Touche LLP and its subsidiary Deloitte MCS Limited. Deloitte & Touche LLP is the UK's fastest growing major professional services firm based in 21 UK locations, with over 10,000 staff nationwide and fee income of GBP 1,246 million in 2003/2004. It is a member of Deloitte Touche Tohmatsu, an organisation of member firms with access to the deep intellectual capital of 120,000 people in nearly 150 countries, delivering services in four professional areas: audit, tax, consulting and corporate finance. Deloitte Touche Tohmatsu is a Swiss Verein (association), and, as such, neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each member firm is a separate and independent legal entity operating under the names "Deloitte", "Deloitte Touche Tohmatsu", or other, related names. The services described herein are provided by the member firms and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority. The information contained in this press release is correct at the time of going to press. For further information, visit our website at www.deloitte.co.uk. PeopleSoft and the PeopleSoft logo are registered trademarks of PeopleSoft, Inc. All other company and product names may be trademarks of their respective owners. Copyright (C) 2004 PeopleSoft, Inc. All rights reserved. [ Back To TMCnet.com's Homepage ]