Financial Systems Transformation Program Launch

 
To: All Faculty, Other Academic Appointees, and Staff
From: Ka Yee C. Lee, Provost and Ivan Samstein, Vice President and Chief Financial Officer
Subject: Financial Systems Transformation Program Launch
Date: February 17, 2020
 
We are pleased to announce the University is launching a “Financial Systems Transformation (FST)” program, a multi-year, campus-wide initiative to implement a modern financial system.
 
The new system will have broad‐reaching benefits. It will provide access to real-time, comprehensive, and reliable financial data to better support day-to-day work and as well as near- and long-term decision making at all levels.  This will include the areas of financial management, procurement, budgeting, real estate asset management, and post-award grants management. For example, the new system will provide real-time visibility to financial transactions, such as payments or cost transfers, on specific financial accounts. The FST program will also benefit our post-award grants management process by providing faculty, other academic appointees, and staff access to real-time and reliable grants financial data to better support research operations.
 
Designing and implementing such a system will greatly benefit from engagement across the institution. Our next step will be to further understand academic and administrative units’ needs and priorities for the new system and processes. Hearing from faculty and staff as we prepared to launch this program has already helped frame the initiative. The FST program team will continue working with leaders across campus in the coming months to inform design decisions and is also providing opportunities for faculty, other academic appointees, and staff to provide input and ask questions at these upcoming campus forums:
 
  • Thursday, February 27, 3-4 p.m. (Logan Center, Room 201) Sign Up
  • Friday, February 28, 10-11 a.m. (Eckhardt Research Center, Room 161) Sign Up
  • Monday, March 2, 1:30-2:30 p.m. (Saieh Hall, Room 146) Sign Up
  • Wednesday, March 4, 9-10 a.m. (Regenstein Library, Room 122) Sign Up
  • Thursday, March 5, 3-4 p.m. (Virtual Forum, Zoom details provided once registered) Sign Up
 
If you can’t attend one of these sessions, please submit your information here, and the FST program team will work with you to schedule an additional option.
 
You may also submit input or questions to FST@uchicago.edu or visit the FST website for more information.
 
The FST program team will continue to keep you informed as the initiative progresses.
 
Thank you for your attention to this important effort. 
 
Keywords: 
Policy and Administration