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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