The FDM, or Foundation Data Model, our new chart of accounts for Workday
Financials. The FDM team has slowly been
bringing in a few units across Grounds to do some work testing out mapping to
the new chart. This July, the FDM
mapping tool will be available, and those activities will spread to all schools
and units and the mapping effort will continue until March of 2022.
Those intensive
mapping efforts will be the culmination of a lot of preparation that’s gone on,
including 67 hours’ worth of working sessions dedicated to defining the
selected FDM dimension and other elements associated with the FDM, and
reviewing benchmark data and structures from other universities such as LSU,
Yale, Miami, and Iowa State.
As the team looks to finalizing the FDM and
integrating the structure into Workday functionality, they’re working toward
some basic goals: Streamlining ease of
use, maximizing worktag functionality, aligning with control and approval
frameworks, leveraging reporting and analytics and integrating with the budget
tool.
In the meantime, schools and units can think about the cost center structures already submitted and
how those will map from the current chart of accounts to the FDM. The FST team will be getting in touch with folks
in the next few weeks to understand what defaults make sense for org-to-cost
center mapping.
Read Augie Maurelli's "Current State of the Current State" on FDM and Reporting
The newly-established Workflow Controls and Approvals workstream has been working with the broader FST functional team to document
considerations and implications related to the workflow of transactions in
Workday Financials, as well as the associated roles and approvals in our business
processes. They’re working toward
configuring things into UVA’s tenant of Workday enough so that folks can see the
functionality in our next round of Customer Confirmation Sessions.
The next round of Customer Confirmation
Sessions will begin in June.
The Adaptive Planning team continues to focus on the latest iteration of the Adaptive
planning tenant, Adaptive 3.0. This involves
categorizing user stories so we can be sure that users have the functionality
they need and want in July of 2022, straight out of the gate.
Check out this Adaptive Planning update.
The Reporting and analytics team will have the
core reports needed for all schools and units to do their day-to-day work on
day one of workday financials’ go live.
You can expect that much of the reporting you use UBI for today will be
done in Workday. And even though
things will be ready to roll on go-live date, work on reporting and analytics
won’t stop there. The team will continue
to capture requirements and building the tools needed to go forward.
Decision Updates:
- During last
month’s governance meetings, the FST team announced that UVA will require receiving
acknowledgment only for invoices greater than ten thousand dollars, and that
acknowledgment will be indicated by approval of the invoice. Users will also have the ability to add
receiving documentation at the time of approval. - Regarding
F&A Cost Share and Expense allocation, UVA will implement both F&A
waived expense allocation profile and track lost F&A on cost-share in
Workday. - Pending
decisions include vendor selection for optical character recognition for
invoices, non-catalog requisition process flow, system administrator
responsibility approach, the future of Recon@, and the expenditure credit
process and policy.
Don’t forget the Decision Log lives on the FSTwebsite and is updated as frequently as possible.
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