Case Study - University of Chicago
The Client
The University of Chicago embarked on a Financial Systems Transformation (FST) program, a multi-year initiative to streamline financial and administrative processes leveraging modern technologies. The University went thru a pre-implementation phase. The major milestone activities during this phase included documentation of the University’s current state, business process review & reengineering, defining the future state requirements, and RFP/selection of software and implementation partner.
The Challenges
- System and process design are based on University requirements from the 1980s.
- The University’s current financial processes and systems have not grown to meet the ever-changing needs and increased reporting and analysis activity of their work.
- Reporting is limited, time-consuming to produce, and difficult to integrate. The source data differs across systems leading to inconsistencies in reporting and support for faculty and staff.
- Some departments have developed manual workaround processes to account for system limitations and deficiencies, which requires extra time and resources to maintain.
- All budgeting and management reporting and reconciliation done manually.
- Processing encumbrances takes too long, leading to budget overages or accounting errors.
Our Solution
- Developed and managed program management artifacts and project governance processes.
- Assist in the development of a strategic plan and timeline for the FST program.
- Collaborate with the University’s leadership team and advisory services partner on various work streams as it pertains to FST program management and change management efforts.
- Facilitate change management by applying proven approaches and strategies along with stakeholder impact analysis execution.
- Support the development of a change management framework leveraging templates and other accelerators based on PM best practices.
The Results
The University of Chicago embarked on a Financial Systems Transformation (FST) program, a multi-year initiative to streamline financial and administrative processes leveraging modern technologies. The University went thru a pre-implementation phase. The major milestone activities during this phase included documentation of the University’s current state, business process review & reengineering, defining the future state requirements, and RFP/selection of software and implementation partner.
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