FST 101
This automation in Oracle will allow transactions to flow through and notify individuals who are responsible for approvals, ensuring a timely and compliant approval chain
What is Workflow?
This module is responsible for all accounting, processing journal entries, and processing period / month / quarter / year-end close
This module is responsible for creating requisitions, maintaining suppliers, and processing purchase orders
What is Procurement?
This new accounting structure will replace the 40-year-old FAS system
What is the Chart of Accounts (COA)?
What is the Nobel Prize?
Oracle isn't everything! The University is also implementing this system to serve as the Data Warehouse and reporting hub
What is Orbit?
This module is responsible for managing and processing invoices and payments
What is Accounts Payable (AP)?
This module is responsible for managing all projects, including grants, clinical Research, capital projects, individual awards, and discretionary funds
What is Project Portfolio Management (PPM)?
Oracle will replace this system for all Procurement activity
What is BuySite?
This is the mascot of the University of Chicago, who you can find at sporting events when the Maroons are playing
Who is Phil the Phoenix?
This final phase of the implementation is when all data will be officially transfer from the legacy systems to Oracle in order to go live.
What is Cutover?
This process area is responsible for creating and maintaining sponsored awards, subawards, clinical research studies, and sponsors
What is Grants Management?
This module is responsible for intaking customer payments, managing bills, and processing refunds
What is Accounts Receivable (AR)?
This Actor Package will allow & require this person to approve all financial transactions for their assigned Org
What is an Org Financial Manager?
Every Wednesday, the Reynolds Club hosts this beloved and affordable tradition
This phase of the FST program will address Planning & Budgeting for the University (hint, I can hear the ocean...)
What is Wave 2?
This module is responsible for tracking the acquisition, maintainence, retirement, and disposal of assets
What is Fixed Assets (FA)?
This process area is responsible for creating, tracking, and capitalizing projects involving construction or assets such as equipment.
What is Capital Projects (CP)?
This new process replaces the setup, maintenance, and tracking of the artist formerly known as Faculty Funds
What is Individual Awards and Discretionary Funds (IADF)?
This program ensures a University administrator is on call 24/7 for students to reach
What is the "Dean On Call" Program?
Together, these six segments form the POETAF
What are Project Number, Organization, Expenditure, Task, Account, Fund?
These two modules allow 1) UChicago and the UChicago Med Center to manage costs, expenses, and chargebacks between the institutions, and 2) process charges between units within the university
What are Funds Flow and Intercompany Transactions (FFIT) and Internal Billing (IB)?
This module is responsible for managing bank setup and reconciliation, and processing non-AP payments
What is Cash Management?
This process will use ServiceNow forms and the team in Payment Services individuals to correct errors at the source (e.g. the subledger or invoice via AP)
What is Cost Corrections?
This campus library houses over 3.5 million volumes and was used to film scenes in the movie "Divergent"
What is the Mansueto Library?