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Financial System Replacement Project
Fall 2009
1
Topics
• Financial system replacement overview• Project background• Project phases• Next steps
Topics
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Financial System
Replacement Overview
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Financial Systems Replacement Project
• A major effort to replace UW core financial systems• Now in the Needs Assessment phase• Targets three financial systems:
Financial System Replacement Project
FAS BGT PAS
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When our financial systemswere implemented in 1974:
• Pocket calculators appeared
• Offices began using a primitive word processor resembling a typewriter
• UW Research volume was $69M
Financial System Replacement Project
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A lot has changed… but not our core systems.
How Does the UW Compare?
Among the UW’s peer group, only one has financial systems older than the UW’s – Michigan State University.
… And MSU is in process of replacing their financial system.
Financial System Replacement Project
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UW Financial Systems: Current State
• Can’t support new business models and priorities:– President Emmert’s 2 Years; 2 Decades Initiative– Activity Based Budgeting (ABB)– Self-sustaining business units
• Inefficiencies negatively impact staff productivity
• Manual workarounds create additional work
• Hundreds of redundant shadow systems
Financial System Replacement Project
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Future Financial System Vision
• Modern, flexible, effective core financial system
• Flexible chart of accounts
• Effective financial and management reports
• No manual workarounds; streamlined business processes
• Timely, consolidated, accurate information
• Integrated system supports management and reporting
• Current/future business needs met; limited system customization
Financial System Replacement Project
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Looking to the Future
• Status quo is not acceptable
• Replacing our core systems is critical to the UW’s future
• We are moving forward!
Financial System Replacement Project
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Project Background
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UW Strategic Roadmap• UW Strategic Roadmap (2008)
– Comprehensive strategic plan for future of UW information and administrative systems
– Involved 170 key stakeholders across UW
• Recommendations--Five key initiatives including:– Replace our financial systems – Redesign business processes
•Outcome: – Financial Replacement Project
Project Background
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Project Scope
Project Scope
• Fixed Assets• Purchasing/Receiving• Accounts Payable• Travel/Expense Reporting• Vendor Management• Cost Accounting• Service/Recharge Centers• General Ledger• Grants Management
• Project Accounting• Capital Projects• Budgeting• Budget Activity
Reconciliation• Accounts Receivable• Debt/ILP• Endowment Mgmt. • Bank Reconciliation
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Project Principles
• Transform how we do business
• Changes of this magnitude take time
• Start preparing for change now
• Select vendor package/open source–don’t build
• Minimize customization to reduce risk/cost
• User involvement critical during every phase
• No system will meet 100% of our needs
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Project Approach
A New Approach
• Past efforts focused on incremental enhancements
• Long-term solution is radical: replace our core systems
• Scope and scale are larger and more complex than anything UW has undertaken in this area
Financial System Replacement Project
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Setting the Stage for Success
• Highest level of institutional support• Executive sponsors:
– Phyllis Wise, Provost– V’Ella Warren, Executive Vice President,
Finance & Facilities• Funding the new approach:
– First project phases have been funded– Executive Sponsors actively working on funding
for new system
Financial System Replacement Project
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Project Organization Structure
User Work
Groups
Financial Core Team
Project Steering
Committee
Technical Advisory
Group
Project Sponsors:Ann Anderson
Sara GomezGary Quarfoth
Executive Sponsors:V’Ella WarrenPhyllis Wise
Accounting Advisory
Team
FSNA Project Team
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Broad Community Involvement
Project Phases: The Road Ahead
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System Replacement Life Cycle
Project Life Cycle
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Phase 1Needs
Assessment
Phase 2 Alternatives
Analysis
Phase 3Implementation
Planning
Phase 4Design &
Development
Phase 5Final
Preparation
Phase 6Post
Implementation Support
Communication
Business Process Redesign & Change Management
2008-2009 Go-Live 20XX
FundedFunding Strategy Discussions Underway
Major Investment
Funded
2010 2011 – 201?
Phase 1: Needs AssessmentGoal: Define what UW needs in a new financial system
• Interviews: Over 100 users explore issues; document existing business processes
• Focus Groups: 26 focus groups help determine what’s needed in a new chart of accounts
• Retreats: 225 users help define requirements for each functional area
Financial System Replacement Project
Phase 1Needs
Assessment
Phase 2 Alternatives
Analysis
Phase 3Implementation
Planning
Phase 4Design &
Development
Phase 5Final
Preparation
Phase 6Post
Implementation Support
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Phase 1: Needs Assessment…
Activities taking place now:
• Gathering high-level requirements to select system– All financial system users invited
to provide input– Input collected via Web survey
Financial System Replacement Project
Phase 1Needs
Assessment
Phase 2 Alternatives
Analysis
Phase 3Implementation
Planning
Phase 4Design &
Development
Phase 5Final
Preparation
Phase 6Post
Implementation Support 20
Phase 2 – Alternatives Analysis
Goal: Evaluate alternative systems against our needs; identify best fit for UW
• Use feedback collected via the survey to:– Identify priorities for new system– Evaluate options for new system
• Talk with peer institutions that have implemented new financial systems
• Recommend system solution for the UW
Financial System Replacement Project
Phase 1Needs
Assessment
Phase 2 Alternatives
Analysis
Phase 3Implementation
Planning
Phase 4Design &
Development
Phase 5Final
Preparation
Phase 6Post
Implementation Support
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Phase 3 and Beyond
System replacement• Approach will be influenced by the system selected• Activities will include:
– Gap analysis – System pilots– Business process redesign– Testing– Training
Financial System Replacement Project
Phase 1Needs
Assessment
Phase 2 Alternatives
Analysis
Phase 3Implementation
Planning
Phase 4Design &
Development
Phase 5Final
Preparation
Phase 6Post Implementation
Support 22
Next Steps
• Provide your input via Web-based survey by December 4
• Attend a survey information session to learn more
Check out the FSNA site for updates:http://www.washington.edu/provost/oim/SPP/FSNA/
Questions?
Financial System Replacement Project
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