Thursday, June 10, 2021

Five Things to Know about FST: June 10, 2021

 



1. Customer Confirmation Sessions, Round 2 are ongoing.  We're about halfway through the sessions, which continue next week.  If you'd like to see materials from all sessions, visit the Online Community.  Please alert Brandi Van Ormer if you have any issues accessing Community materials.

2. Foundation Data Model: An overview of where things currently stand with the FDM (our chart of accounts for Workday) was part of Customer Confirmation Sessions.  We've summed things up in a blog post.

3. Budgeting in the future state:  The Adaptive Team is preparing for the build of Adaptive 3.0 (that will integrate w/Workday Financials at go-live).  You'll be able to see the annual budget and actuals in both Adaptive and Workday.  More on what will appear where in the blog.

4. Get an inside look at what Reporting will look like in Workday Financials:  The FST team has put together a short video to show you the basics of Reporting.  Check it out in the Online Community.

5. Revenue in Workday Financials:  We're moving to a ledger/sub-ledger system in Workday Financials, and that means we need to think about revenue a little differently.  Check out this explanatory piece from Danielle Hancock, Josh Breeden, and Lisa Shuler when you have some time, and don't forget:  Go Live is July 1, 2022!

Wednesday, June 9, 2021

FST Updates: June 10, 2021

 


Want to listen to this update instead of reading it? Click here to tune into the WFST Broadcast!

No time to read paragraphs?  Check out "Five Things to Know about WFST"

Customer Confirmation Sessions, Round 2

The project team and stakeholders alike have been incredibly busy the past couple of weeks with Round two of Customer Confirmation Sessions. As of the time of this post, we’ve had eight out of the twelve scheduled sessions, and the difference between these sessions and what we saw in the first round is really notable.  The demos the team has shared reflect improvements made on the Workday Financials tenant since the first round – those are improvements based on questions and suggestions that our stakeholders had in the first round of sessions and afterward, too, when our Change Leaders shared the basics of the sessions with their teams.  Once this latest round of Customer Confirmation Sessions has wrapped, we’ll be providing videos for Change Leaders to do road shows with their teams.

You can see slides from the sessions, as well as the pre-read materials for each session, out on the Community.  We’ll keep adding to that page as the sessions progress, including the addition of survey data that captured the feedback of attendees immediately after each session. The Community behind NetBadge; if you have any trouble accessing the link, contact Brandi Van Ormer and she'll be happy to get you right in!

Visit the Community to see CCS #2 materials.

FDM Insight

The first CCS session was “Cross-Functional Topics,” and it focused pretty heavily on an overview of the FDM as it stands right now.  Highlights of FDM info in that session include key decisions that have already been made, such as our current department assignments in HCM being replaced by Cost Center org assignments for all UVA employees, and the fact that the program and activity worktags will be optional segments available to schools and units for internal reporting purposes.

We've summed up FDM info as it stands right now; see this blog post for more info.

Budgeting in the Future State

The Adaptive Team has been working hard to get ready this summer to build the third version of Adaptive Planning; this is the one that will integrate with Workday Financials when we go live next year.  The team has gathered 378 user stories from the UVA community to help them shape Adaptive to fit UVA’s needs.  You may be wondering what the difference is between the budget you’ll see in Workday vs. the budget you’d see in Adaptive Planning?   The difference is that Workday will have only the annual budget, while Adaptive will have multiple versions of the budget that you can compare/contrast.  Workday is where you’ll go for day to day operational activities, and will be the source for transactional details – while adaptive will be the source for past, current, and future budget data.  Read more on the blog. 

Reporting in Workday Financials  

The FST team has put together a video that gives you insight into reporting functionality in Workday. In the online community, you can see this short video that walks you through some of the future reports.   It’s only twelve minutes -- check it out!

Training Update

We have a fresh training update for you, as well!   This update breaks down the different ways we’ll deliver Workday Financials training.  The Training Team is planning everything from online courses and quick reference guides, to classroom and zoom training, to office hours and beyond.  Learn more in this post on the blog.


Summer Sprint Discussions: Join us to talk about Caste!

This summer, over a series of Sprint discussions beginning on June 17, we will review and discuss the bestselling book Caste: The Origins of Our Discontents by Isabel Wilkerson. We will discuss a section of the book during each sprint, using discussion questions to guide our conversations.  Visit the VP Finance site for a schedule of our discussions and suggested questions: https://vpfinance.virginia.edu/resources-dei 

If you are unable to read the book, please still join us. You will still be able to contribute to and learn from the discussions without reading it. In addition, before each discussion, the IE team will send the questions and additional resources for that week’s sprint conversation.

We really hope you will join us for some or all of the sessions, and please share the invitation with another UVA colleagues. These sessions are open to anyone who is interested, and we’ve already started expanding our group beyond UVAFinance, which is very exciting! 


The zoom link for all of the discussions is: https://virginia.zoom.us/j/95163051737?pwd=TlZ0WVF4VUl4cnpyZ3dTRVl6U2w3dz09

 

If you have any questions regarding the Sprint discussions, please contact Patty Marbury or ToShun Campbell.

 

Tuesday, June 8, 2021

Sneak Peek FAQs, Volume 3

 

After the first round of Customer Confirmation sessions, Change Leaders from across Grounds hosted "sneak peek" sessions in their areas so that more people could get a glimpse of the first build of UVA's Workday Financials tenant.

The result was lots of great questions (244 to be exact). Many of those questions could be answered during the sneak peek sessions, but about 35% are still yet to be addressed. The Change Management Team is working on getting answers to those and on sharing answers to the most commonly-asked questions.

NEW:  This week's questions and answers come from our Customer Confirmation Sessions, Round 2!  You can see more answered questions in the slides from CCS sessions on the Community: Click here to visit!

Previous Sneak Peek blog pieces:



We need to be able to enter transactions in bulk, not line by line.  Is there bulk upload capability in Workday?

Yes, we have developed an ISD Integration packet and have been meeting with units to discuss the file layout.  Many Internal Service Provider areas and contacts are also included in the System Remediation Network.

Where are we going to do budget vs. actuals analysis?  Will we still be able to compare against the original budget? 

Budget vs. actuals reporting will be available in both workday and Adaptive Planning an will depend on the user and use case.  Comparison against the original budget will be available.  See this blog post for more details on budgeting in the future state. 

Is fiscal year carryforward an automatic or manual process?

The FST team is still working through a solution to SG/LG carryforward; otherwise, if you own the funding source, fund balances will flow through the system and be visible to the user. 



Foundation Data Model: Current Overview


As part the second round of Customer Confirmation Sessions (CCSs), continuing through June 17, the Finance Strategic Transformation (FST) team provided an overview of where things currently stand with the Foundation Data Model (FDM), the Workday Financials term for chart of accounts.

Read on to see finalized/pending decisions and a sample FDM string. 
 

Key Decisions

  • Cost Center to Replace Department: Department org assignments in HR Workday will be replaced by Cost Center org assignments for all UVA workers. Workers’ supervisory org assignments will be unaffected.
  • Program and Activity Worktags: The Program and Activity Workday worktags will be optional, available to schools/units for internal reporting purposes.

Open Items

  • Project Worktag and Multi-funding Source Functionality: Workday Financials multi-funding source functionality provides a highly dynamic way for expenses to be allocated to FDM strings based on predefined parameters. This functionality for on non-capital project scenarios, including tracking start up packages.
  • Function Worktag on Transactions: The FST Team is currently testing scenarios for how the function worktag will be derived on a transaction. The Worktag could potentially be related from a single Worktag or based on the single Worktag, a user is provided a list of allowed values.
  • Cost Share Setup: The FST Team is currently testing scenarios for how cost share on grants will be set up and how they will function as companions within the grant application while utilizing a non-research funding source.
  • Required Worktags for ISPs: The FST Team is currently testing scenarios to determine what worktags ISPs will be required to collect when a school/unit initiates a transaction with an Internal Service Provider (i.e. FM, Copy Services, Bookstore, etc.)

Sample FDM String 

Click on image to enlarge.

FDM Worktag Definitions and Other Info

Click here for current details about the FDM worktags, including definitions, naming conventions, maximum field length, and more. 

Monday, June 7, 2021

Budgets in Future State

The Adaptive Team has been continuing to meet daily to prepare for the build of Adaptive 3.0, the new version of Adaptive Planning that will integrate with Workday Financials when we go live on July 1, 2022.

The team has collected almost 400 user stories from UVA schools and units so they have the clearest understanding possible of UVA's needs going forward.

There was a huge range of user stories and the team is currently in the process of reviewing and refining them and is reaching out to schools and units to provide additional clarity or details as needed. Take a look at the graphic below to see all of the budget processes the team will be taking into account as they design Adaptive 3.0.

Click the image for a larger view



Speaking of Go-Live, and Adaptive Planning integrating with Workday Financials, you may be wondering what parts of the budget will live in Adaptive vs. Workday. At the recent Customer Confirmation Session focused on Budget, Team Lead Elissa Morton broke it down like this:
  • Adaptive Planning: used for budget development activities and strategic planning. Adaptive will contain detailed budget models with additional budget information, including commentary, current-year forecasting capabilities, multi-year planning capabilities, and scenario modeling capabilities. In short, Adaptive Planning is our source for past, current, and future budget data.
  • Workday Financials: where you go for day-to-day operational activities. Workday will house source transaction details (purchase order information, worker-related information, etc.), and it will only consume the original budget and the latest forecast version for the current year.
You'll be able to access the annual budget and actuals in both places. Workday will only have the approved version of the annual budget along with transactional details. Adaptive will have multiple versions of the budget that you can compare/contrast.