Forward With the Foundation Data Model

As we dive into 2021, the Foundation Data Model (FDM) continues to move towards finalization. 

The Finance Strategic Transformation (FST) functional team anticipates having a solid base with cost center structure in place in February. In Workday, cost center is akin to the legacy Oracle terminology "Organization" (see Workday Words for definitions and legacy term correlations). Changes to cost center will still be possible based on the feedback of school/unit partners as they review the setup for their areas. Sharing information about the FDM and getting people used to the future approach will occur over the next several months. 

A priority in the new year is mapping. As we prepare to transition from our current Chart of Accounts (COA) in Oracle to the FDM in Workday Financials, translating PTAO/General Ledger strings to the new worktag approach is on everyone's minds. The FST team remains focused on providing a mapping tool that will help clarify this process as partners across Grounds determine how their information will be captured appropriately with the functionality within Workday. The timing to implement the mapping tool will be delayed a bit, due to the resource the team hoped to use not being able to do what we expected. Mapping work will still occur in preparation of finding a tool that will meet UVA's needs. 

For more info about what's coming for the FDM in 2021, see the timeline below (click to enlarge image). 

Want to stay informed about all things FDM? Check out the FST Info Station for tips on how to easily stay in the know.