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Workstreams

Workstreams:

The work in FinPOST is organised into 5 workstreams that cover particular business processes, plus workstreams that cover the breadth of finance activity.

Source To Pay

This workstream covers sourcing, requisitioning, buying receipting and payment.

The principal areas are:

  • Identifying Purchasing Needs & Procuring
  • Maintaining Suppliers
  • Requisitioning
  • Purchasing
  • Receipting
  • Invoice Processing
  • Payments
  • Expenses

Order To Cash

This covers income processing/accounts receivable. UCD has a wide variety of income sources including

  • large blocks of income from State and Research Funding bodies
  • student fees
  • Vet Hospital and Lyons Farm
  • commercial activities
  • subsidiary company activities
  • miscellaneous other sources

Activities in this area include

  • Customer and Master Data setup and maintenance
  • Invoicing
  • Collecting
  • Allocating Payments
  • Financial Management of Income

Projects & Asset Management

Projects are a very important area of activity in the university, with Research Projects and Capital Projects particularly important.

Activities for Research Projects include

  • Confirming Project Funding
  • Establishing Project
  • Tracking Spending & Income
  • Reporting To Funding Agency
  • Closing Project

Activities for Capital Projects include

  • Identifying Project Need & conducting Capital Project Appraisal
  • Establishing Project
  • Tracking Spending
  • Periodically Reviewing Project Progress
  • Project Close and Depreciation

Record To Report & Planning

This process covers activities from recording accounting entries through to producing the financial statements.

  • Master Data - Chart Of Accounts & Accounting Policies
  • Treasury
  • General Accounting
  • Period & Year End Close
  • Consolidation
  • Capital & Tax Accounting
  • Financial Reporting including GAAP/FRS 102 and US GAAP Financial Statements, Research Funding Agency accounts and European Investment Bank reporting.

Planning activity includes forecasting, budgeting and financial planning for 1 year and 5 year horizons.

  • Operational and University Budgeting
  • Staff Planning
  • Five Year Planning
  • Student Fee Income Census Reporting & Forecasting
  • HEA Financial Reporting
  • Periodic and Ad Hoc Management Reporting
  • Research Overhead Income Calculation and Reporting

Enterprise Architecture

This workstream spans the business processes and covers the integration of the finance system with other systems.

Key systems include

  • Ellucian Banner Student System;
  • People XD (Core) Payroll and HR System;
  • Symplectic Elements Research Funding System;
  • InfoHub and Tableau reporting systems.

Data and Conversion

This workstream covers Data and Conversion.

  • Developing and implementing a Data Strategy to
    • Cleanse
    • Enrich
    • Migrate
  • data across the full breadth of the finance system;
  • Manage Master Data including roles and groups;  
  • Provide Governance over maintenance of data.
  • Developing and implementing a Conversion Strategy to
    • Convert from old systems to the new systems;
    • Provide access to historical data.