Transformation of Georgia Tech's Financial Systems is Underway
A new day is on the horizon for the more than 8,000 Georgia Tech employees who work with financial transactions. The transformation of Georgia Tech's financial systems is underway, and the program is actively engaging key constituents to map out how best to leverage the powerful capabilities of the Workday solution for the benefit of the Institute.
“Georgia Tech financial users, across all units, are very excited about transforming Georgia Tech’s financial systems,” said Alan Katz, assistant dean for Finance and Administration at the College of Computing. “The Workday Financials solution offers next generation cloud computing that will evolve with the Institute — all with a user-friendly interface. It has the potential to replace or augment all of our disparate accounting, budgeting, purchasing, T&E, and grants management systems.”
Katz added that the significant process and policy improvements are already being identified. One initial win is automating non-employee payments for more timely and accurate tracking of project balances.
During the Architect Phase this spring, the Financials Transformation Program conducted several Customer Review Sessions to share the newly defined business processes with an expanded Georgia Tech population. Customer Confirmation Sessions will be held this summer, targeting an even larger audience in an effort to ensure the campus community has an opportunity to provide feedback and is engaged throughout the design process.
Additionally, headway continues on the development of the Foundational Data Model (FDM), which will replace the current Chart of Accounts (COA). One of the primary goals of the FDM is to ensure alignment with the University System of Georgia. The new FDM will also provide additional details and dimensions that are expected to improve reporting and enhance decision-making.
Developing the FDM is an iterative process, but the socialization of the new structure has already begun with presentations made at the Year End Town Hall and A&F Speaks. Additional outreach will continue throughout the summer with information sessions. More information on the Financial Transformation project at Georgia Tech, including details on the FDM, can be found at transformation.gatech.edu.