Financial Systems Transformation

Oracle Cloud is unlike anything we have ever done before, which makes it both exciting and challenging.  What is it?  Oracle defines it as “a style of computing based on shared, elastic resources delivered to users in a self-service, metered manner using web technologies.” More importantly, what will it do for us? Oracle Cloud will provide three integrated systems: Financials in the Cloud (FITC) replacing PeopleSoft FSKU, Planning and Budgeting Cloud Services (PBCS) replacing NIBS and UBUD, and Business Intelligence Cloud Services (BICS)* replacing BudCast and DEMIS financial reporting.

Our current PeopleSoft financial system was implemented in the fall of 2008, and, while it has served us well, it is highly customized making upgrades difficult and expensive to maintain. Moving to Oracle Cloud will modernize our systems, simplify implementation and future upgrades, require fewer IT infrastructure and system administration resources, and cost us less money over time. Instead of building a system, we will be moving our business processes into a delivered system that is highly configurable and based on modern best practice. 

Seventeen teams consisting of 88 team members have been meeting for several months now, and a significant amount of work has already been completed. Implementation partners are on-site to provide expertise and help guide us every step of the way.

This website has been created to provide you with information about Oracle Cloud and the systems we have purchased. It contains the lists of teams and the members selected to serve on them, as well as the project timeline, frequently asked questions, updates, and other relevant information. Please take some time to navigate the site and familiarize yourself with all the components of this major project.

I hope you are excited as I am to be on the cutting edge of innovation with systems that offer increased functionality, a best in class user interface, an opportunity to improve operational efficiencies, and ultimately reduce costs.

 

~Diane Goddard
Vice Provost for Administration & Finance

*As of 6/1/2017, Oracle Analytics Cloud has replaced BICS. Learn more...


FST Videos

The KU IT Training Team has created two videos to help explain this complex project. We encourage you to take a few minutes to view them to learn more about the FST project.


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Click to Watch the Videos

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