Reporting: Financial Reporting Initiative 2011
PI Reporting Improvements
Based on feedback and requirements provided by faculty, PIs, and staff supporting PIs, new reports have been created specifically for the use of faculty, particularly of use to principal investigators. Read more here...
Data Warehouse - DWEF database - Improvements
DWEF is the database that stores information from the financial system (EFS, PeopleSoft Financials). Enhancements are being made to this tool. Read more about the enhancements made to DWEF here.
Business Intelligence (BI) tool pilot (UM Analytics)
A group of selected faculty and staff will participate in a pilot test of the University's new business intelligence tool. Information for pilot participants is posted here.
This tool will be known by the name "UM Analytics" and this pilot will encompass a portion of the available financial data. Ultimately this tool will contain data, dashboards, and reports related to HR/payroll, student, and financial systems. The larger BI system implementation effort is being coordinated by the Office of Information Technology (OIT). This pilot specific to financial reporting is being coordinated jointly by the Controller's Office and OIT under the auspices of the Financial Reporting Improvements Initiative.
About the initiative
This initiative is part of a larger effort to improve the financial system. That larger effort was described in a memorandum sent to University employees from VPs Mulcahy and Pfutzenreuter on December 22, 2010.
Updates on activities are sent to the community via email, group presentations, or posted on this web site.
Purpose
People who use the financial reports and data view currently provided capabilities as inadequate and not meeting all the financial reporting needs of their unit. Stakeholders understand that the University is working to implement an improved reporting environment but are concerned about the timing and efficacy of this effort in relation to their needs and other University wide system initiatives. Stakeholders believe that more immediate improvements can and should be made.
This project will focus primarily on providing immediate improvements. Improvements will be made in the current reporting environment, including its support functions. A secondary focus will be on financial reporting in the new reporting environment, where a pilot project will identify desired content. Both aspects will use an iterative approach with significant user participation to ensure deliverables meet requirements.
Two factors are critical to the success of this project. First and foremost is timing. It is essential the project begins and delivers real improvements as soon as possible. Second, there must be significant user involvement in the entire process, not only in the gathering of requirements but also in the determination of priorities and solutions.