Submitted by nl407 on Thu, 31/03/2022 - 11:36
Over the next few years, the Finance Transformation Programme (FTP) will transform the way we provide professional services, demonstrating that we understand the needs of our users while delivering solutions that are smart, stable and sustainable for the organisation.
Many of you will already be involved in different aspects of the FTP. However, here’s an overview of what the team is working on right now and what you can expect from the FTP in 2022.
Expenses
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Following a successful, year-long pilot, the Expenses Management project team will be gradually launching Concur – our new expenses management system – to the University from May 2022.
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The new system is more automated and efficient, while providing data to help us report the University’s carbon footprint. It’s also more intuitive and user-friendly.
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As of now, nineteen departments are already taking advantage of Concur, and we’ll be rolling out to around twenty more every month for the remainder of 2022.
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For more information, check out the Expenses Hub.
Strategic Procurement & Purchasing (SPP)
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The Strategic Procurement & Purchasing Programme (SPP) aims to make it quicker and easier for staff to buy the goods, works and services they need, while delivering benefits for society, the economy and the environment.
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SPP is currently working closely with two pilot departments, Physics and Cancer Research UK Cambridge Institute (with a third, Estates, still at an early stage), to identify opportunities and test new solutions before launching them to the University.
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In 2022, SPP will roll out ISO 20400 (sustainable procurement) training; launch the new Procurement Portal (an online self-service hub to help staff buy what they need); simplify procurement policies and processes; and put new frameworks in place to make sure we meet staff needs with regards to IT equipment.
Enhanced Financial Transparency (EFT)
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The Enhanced Financial Transparency (EFT) project aims to provide the University with access to transparent financial information, helping staff to properly understand our finances and make better budgetary and resource decisions.
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In 2022, the EFT project team will continue developing a new business planning tool, providing training and support to Finance Managers, and working with Schools and Non-School Institutions to develop a new business planning model at the University.
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Last week, we updated the EFT intranet site to include a Frequently Asked Questions section, which will hopefully clarify what the project is seeking to deliver and how we’re approaching it.
Finance Systems Replacement (FSR)
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In the next couple of months, the Finance Systems Replacement (FSR) project team will be approaching potential finance systems software providers.
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To prepare for this, they've gathered functional and technical requirements from across the University, and have launched a Chart of Accounts mini project in conjunction with an external consultancy.
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Once the successful vendor is selected in Q4 2022 the team will embark on securing an implementation partner, with a view to commence delivery in 2023.
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The new system will make financial processes more uniform across the University; guide users through financial processes; integrate and process data from a range of systems and sources, and help us take full advantage of modern digital technology, making sure we're always secure and up to date.
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To deliver this, and provide governance, the project has engaged with three external Non-Executive Directors in an advisory capacity on the FSR Board.
Wherever we make changes, we’ll engage staff in advance to make sure they have all the necessary information and support they need.