FST Provides Further Insight into PaymentWorks System

 

During the November Advisory Group Meeting, FST’s functional
team answered a few frequently asked questions regarding PaymentWorks. The team
is currently examining this system as a potential option for supplier
onboarding and management.

One of the questions asked had to do with purchase orders.
Kevin Beyer, the Deloitte Functional Team Lead, explained that the purchase
order process will take place in Workday, as will invoicing and similar transactional
activity. PaymentWorks is only for supplier onboarding and managing outgoing
payments to these suppliers.

How honoraria payments will be processed also came up as a
question. Like other suppliers and payees, visitors requiring honoraria payments
would first register with PaymentWorks to enter their payment information. The
invoice/payment request would then be processed in Workday.  Note, the goal is to issue honoraria payments
electronically instead of issuing checks.

In past governance meetings, the team demonstrated why
PaymentWorks is likely UVA’s best option for supplier onboarding and management,
with its fraud protection, tailored user experience, and ability to transition
away from check payments. The final decision is close to being made, and you’ll
be updated as the FST project team facilitates the conclusion of this decision.

For updates on the decision status of PaymentWorks, make
sure to check out the FST Decision Log.