Thursday, February 25, 2021

Five things to know about FST: February 25, 2021

1.  Schools and Units are working with the Adaptive Planning team on FY22 Budget Development and to prepare for the "3.0" version of Adaptive Planning that will go live with Workday Financials in July of 2022.  More on that here.

2.  Chart of Accounts Work:  The FDM (Foundation Data Model) is the Workday term for Chart of Accounts. The FST project team is planning a series of FDM mapping activities this spring: schools and units will partner with the team to review current GL strings and identify future state FDM mappings.  Specific details, time commitments, and other important information will come very soon.  Have you checked out this video in the Community about FDM basics? 

3.  Reporting & Analytics:  If you've been wondering if you'll use UBI much after Workday Financials goes live, the short answer is "Maybe, but likely much less than you do today." After go-live, Workday will be your go-to source for financial reporting and analysis, but UBI will still be around for special use cases.  More on that here.

4.  Change Leaders from the Advisory Group are sharing sneak peek videos with their stakeholders during the next few weeks.  The videos feature a high-level look at common processes in our Workday Financials tenant.  Find the Advisory Group member for your area on the FST website.

5.  We're halfway through the Configuration & Prototype phase of FST.  The FST team is working on the second configuration of UVA's tenant of Workday Financials, and the second round of Customer Confirmation Sessions is planned for May of 2021.  Go live of Workday Financials is July 1, 2022.  See the roadmap here.

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