1. Finance Strategic Transformation: Phase 1 Scope/Activities
Fiscal Administrators Group
August 8, 2018

2. Phase 1 – Assessment and Planning
Scope of Assessment & Planning Activity
Current State Review/Future State Opportunities
Functional Gap Analysis
Implementation Roadmap
Business Case
Change Management 1

3. Finance Strategic Transformation (FST) Phase 1 – Assessment and Planning
Functional Scope
Financial Budgeting & Planning
General Accounting & Financial Reporting
Gifts & Endowments (Accounting)
Payroll (Integrations with Financial System)
Procure to Pay
Accounts Payable
Accounts Receivable/Internal Billing
Post-award Research Administration
Labor Distribution
Student Financial Services (Integrations from SIS to Fin. System)
Bank Reconciliation/Cash Management
Fixed Assets/Capital Project Finance
Chart of Accounts, Internal Controls, IT Landscape (will be addressed in context of functions above) 2

4. Phase 1 – Assessment and Planning
Activities and Participants
Note: Tentative; not confirmed
Source: Deloitte
Key Activity
Step
Objectives
Format/ Duration
Participants
Current State / Future State Design
Business Process Maturity Model (BPMM) Workshops
Overview of current state
Alignment with desired future state
Priorities for BP transformation
Business requirements
1 half-day workshop per functional area
Funct. Bus. Owner
Business Officers
Central Finance
Key Unit Reps
IT Landscape Workshops
High-level of current state/future state landscape, integrations
12 two-hr workshops by system types
Functional and technical system owners
Key Business Structures
Straw Model CoA Design
Understand current Chart of Accts
Reporting Requirements
Examples of FDM used by peers
CoA straw model
Done as part of BPMM workshops
See participants for BPMM workshops
Functionality Gap Analysis
Fit/Gap of Workday solution
Fit/Gap of bus. Reqts. of Workday solution proposed workarounds needed to fill critical business gaps
High-level analysis of Oracle Cloud
2 two-hr vetting sessions
See above
Business Case/
Impl. Roadmap
Total Cost of Ownership / Roadmap
Recomm. deployment scenario
Costs to implement/ongoing costs
Quantitative & qualitative benefits
Exec. Officers + above 3

5. Phase 1 – Assessment and Planning
High-Level Timeline
Note: Tentative; not confirmed
Source: Deloitte
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Project Launch
Current State Review and
Future State Vision
Functional Gap Analysis
Implementation Roadmap
Business Case
Change Management 4

6. Phase 1 Decisions/Evaluations (for Steering Committee)
Business Process Maturity Model
Where UVA currently sits on the maturity continuum for each business function
Given that, to what degree should we expect to transform each business function?
Business Case / Total Cost of Ownership (TCO) / Implementation Roadmap
Key Assumptions
Recommended Organizational Scope
Recommended Functional Scope
Technology Landscape
Proposed Timeline of Implementation Project
Recommended implementation deployment 5

7. Decisions for New Executive Leadership Team (Informed by Phase 1 Deliverables)
Technology Investment
Invest in new enterprise financial system(s)?
If yes, which solution/configuration? How do we mitigate fit-gap?
If not, do we modify existing systems/make smaller investments?
Business Process Transformation
Organizational/Functional Scope
Service delivery model
Invest in major transformation?
Implement smaller, incremental change? 6

8. Engagement/Outreach Business Process Workshops Finance Jive Community
UVAFinance blog, Finance Matters podcast
VP Finance website and Finance Strategic Transformation website (coming soon) 7

9. Next Steps
Project launch: preliminary project planning (2-3 weeks in duration)
Provide consultants with background on processes, policies, procedures, systems/current IT landscape
Establish Phase 1 governance model
Draft project charter
Plan for Phase 1 change management activities
Schedule Kick-off
Project Kick-off 8