Important ​​Financials Modernization Project Update

This communication was sent to Campus Liaisons, Representatives, and Business Offices.

After careful consideration, we have temporarily paused all work with our implementation partner related to the Financials Modernization Project as of Friday, September 1, 2023. This will give  internal team the opportunity to conduct a comprehensive review of the project and to be thoughtful in how we address important feedback we have received throughout the process, specifically from the Financials Modernization Project Team and during the recent business process solution design sessions.

As a next step, we will be internally reviewing and evaluating what we have learned from the functional assessment sessions and aligning this information with our institutional needs. This information will help inform necessary resources moving forward and will include a comprehensive review of our project goals, timelines, and system functionality needs. We anticipate this work could take six months to complete.

Additionally, the University’s financial ecosystem has evolved since this project started and these changes have had a major impact on project planning, scope, and resources which necessitates this reassessment.

During the months ahead, we will be seeking input from our internal project teams to better position us for success as we develop the path forward. This collaborative work will include:

  • Continued discovery of functional capabilities and understanding of business processes
  • Determining if certain project scope areas can be separately implemented for campus sooner to improve efficiencies
  • Detailed review of our financial policies to better align with our institutional needs
  • Developing content for the accounting and financial gaps of knowledge within the new system
  • Continued chart of accounts standardization and design
  • Continued data cleanup in the current UAccess Financials system

We are appreciative of your incredible work and continued support which has advanced the project to this point. At this time, we anticipate the internal MOUs will remain in effect.

Thank you for your ongoing support.

Stacey Lemos, Assistant Vice President and Comptroller, Financial Services
Tim Schwab, Executive Director, Administrative Technologies, UITS
Ravneet Chadha, Chief Data Officer and Associate Vice President, UAIR