What PeopleSoft's Financial Management Module Means for Us
Why change to PeopleSoft?
- Legacy systems are decades old, outdated, unsupported.
The computerized structures that have provided the University of Maine System’s administrative and student information functions were written in the 1970s and 1980s. Not surprisingly, these decades-old “legacy systems” are now outdated in design, technology, and focus. They require duplication of effort and excessive manual processing. They are fragmented, limited, and increasingly difficult to maintain. It has been clear for some time that a major transformation is essential for the University System to keep pace with current and evolving technology in administrative computing.
What does this mean for our employees?
- Training, changing, new ways of doing old jobs.
Implementation of the PeopleSoft Financial Management system represents a hardware and software change of great magnitude. Yes, it will take a great deal of time and effort: end-users must be trained to learn new ways of doing their jobs, from creating a requisition for purchase to preparing journal entries to learning an entire new Chart of Accounts. It will not always be easy: changing one’s work routine can be challenging and disruptive. However, the change to new software is allowing us to review, streamline, and improve many of our processes in the financials area.
What are some of the streamlined and improved processes that will result from this change?
- Eliminate thousands of duplicate entries.
Interfaces to the Accounts Payable (AP) module of PeopleSoft will eliminate the need for the duplicate entries currently required of employees in UMS libraries, bookstores, and other areas.
- Allow improved, more flexible financial reporting.
The number of ChartFields available in PeopleSoft will provide more reporting options for managers. Report preparation will be easier and available to more users via the web access. In addition, more detailed information about transactions will be available online.
- Produce Out-of-State Travel Reports efficiently.
Currently, employees spend countless hours preparing this required information for the legislature. The Travel and Expense module will allow us to generate this regular report with much less employee time and effort.
- Provide one-stop shopping.
When PeopleSoft is fully implemented, University employees System-wide will enjoy one-stop shopping, with online links to university contracts, allowing staff to order the goods and services they need quickly and easily.
- Improve overall processing of accounting transactions.
Web-based online entry or spreadsheet imports will streamline the entire accounting process. An online entry and approval process will reduce the need for paper documents and manual signatures. Automated workflow and Worklist tools will alert employees to tasks needing attention.
What is the final goal?
- Updated, supported, and efficient financial management computing system.
An updated system will benefit both students and employees of the University of Maine System now and into the future. This goal—challenging in expense, time, and effort—is a goal worth achieving.
Letter from Joanne L. Yestramski, Chief Financial Officer
Financials Phase I Implementation End-User Training Plan
Communications Plan for Financials Implementation
"Focusing on Changes in Financial$ with PeopleSoft"
Frequently Asked Questions about Financials
"A Peek A Week" List
January 2005