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Phase 1 - Assessment & Planning

Current State Review - Future State Design

What happened in Phase One?  A lot of important foundational work!

Phase 1 has been all about looking at the way we currently do finance at UVA. We have worked to understand the current systems that we use, and compared that to leading practices and systems elsewhere in higher education and noted where we have opportunities to be better at what we do.

In our Business Process Maturity Model Workshops with stakeholders, we've studied how we want to do things in the future and how well a new system would support that new way of doing things. Where we have recognized gaps between the system and the new processes, we have worked to develop a picture of how those gaps get addressed, whether that’s a different system, a supporting system, or additional process changes.

The main deliverable for Phase 1 was the picture of how we can improve finance at UVA, as well as a business case for making those changes.  Another part of this included developing a roadmap that lays out what changes are involved, how long we think that will take, and who would be impacted by those changes.

 

 

The Final Business Process Maturity Model Workshop Results are available on the Finance Community

Functional Gap Analysis

Objectives  
  • What are UVA’s high-level functional requirements for each end-to-end finance business process?
  • How well does Workday Financials meet UVA’s high-level functional requirements?
  • What remediation is available for the requirements dispositioned as “No Fit”?
Key Findings
  • A total of 175 high-level functional requirements* were derived from Business Process Maturity Model workshops, Chart of Accounts workshops and Checkpoint Team submissions.
  • Workday Financials meets 99% of the identified requirements (173 of 175).
  • There are alternative approaches for each of the two requirements dispositioned as “No Fit”.

Analysis Summary:

Workday Financials is an overall fit with 99% of UVA high-level differentiating requirements*, meeting 77% (or 135 of the total 175 requirements) with a pure Fit and 22% (38 in number) with a Fit with a Workaround within Workday. 

The 1% No Fit with Alternative, that is only two requirements, would require an alternative solution, such as a UBI report.  

* Differentiating requirements that are unique to UVA compared to other higher education institutions served as the basis for the Functional Gap Analysis. Standard requirements that are inherent in modern ERP software solutions were not captured during this process.

 
Fit-Gap Analysis Fit-Gap Disposition Fit-Gap Definition

 

 

 Fit
  • Workday delivers functionality to meet the requirement
Fit with Workaround withing Workday
  • Ability to meet the requirement within Workday by a custom report, integration, custom object or additional navigation
No Fit with Alternative
  • Workday does not deliver functionality to meet the requirement, but there is an alternative (Workday Custom Report, Integration or Workday Custom Object). Includes requirements that are not core financial system capabilities and/or on the Workday product roadmap for a future release date. 
No Fit
  • Workday does not deliver functionality to meet the requirement.

For the full list of functional requirements and the detailed Functional Gap Analysis, please visit the Finance Community.

Transformation Roadmap

Transformation Roadmap and Business Case are the two major deliverables for Phase 1.

Transformation Roadmap Business Case
  • Definition: A strategic plan to achieve the vision for finance transformation that includes goals, strategies, and milestones 
  • Scope Assumptions
    • Organizational
    • Functional
    • Other (i.e. Process Transformation)
    • Deployment Scenario
  • Readiness initiatives and opportunities collected during BPMM Workshops
  • Definition: Presentation of the investment required and benefits associated with transforming finance
  • Work Products that Serve as Inputs:
    • Total Cost of Ownership (TCO)