Published August 19, 2014
With zippy reporting and budgeting, UB’s recently upgraded
financial system has some new helpful features, with plans for more
down the road.
In July 2014, UB’s financial system was upgraded to replace the 25 year-old system as part of a collaborative effort between Enterprise Application Services (EAS) and University Business Services (UBS).
This upgrade is mostly a seamless transition, and while everything may look familiar, there are some upgraded features behind the screens. Posting of activity to accounts will now be much quicker with transactions showing in almost half the time as they did on the old system. “This will facilitate near real-time account balances for our customers,” says Gary Pacer, Manager of Application Development with Enterprise Application Services (EAS).
There will also be more flexibility and enhancement with reporting. “Transactions may now also be sorted by detail or rolled up into totals allowing for more clarity with finances,” Gary added. Departments may now even total expenditure types across funding sources in different accounts.
These new features will allow for more efficient and effective accounting and reporting of finances and budgeting.
This upgrade allows the systems to more easily adjust to new technologies and features that may arise. One such feature is a paperless processing of budget transactions, or e-Budget Revision. “This new feature will facilitate customer use and eliminate the need for physical paperwork in order to allocate budget funds, even between accounts,” Gary explains. “With an easy to use interface, it will be reminiscent of online banking.”
With rollouts of the systems and new features starting August 2014, Gary says that EAS and UBS both want to hear feedback on the new features: if you'd like to share your comments or if you're interested in a future training session, email Beth Corry in Financial Services.