FINANCIAL SYSTEMS UPGRADE - ams.ubc.ca · Current solution SugarCRM Outcomes . Additional functions Contracts Subsidies Grants Management Waivers ... Component Cost Expense Automation

FINANCIAL SYSTEMS UPGRADE

Joaquin Acevedo & Jeff Aschkinasi Finance Commission

26 February 2014

BACKGROUND

• The AMS accounting office processes payments for our 390+ subsidiaries (clubs, constituencies, and resource groups) and all of our internal departments/businesses.

• Since May, we have already issued over 4,400 cheques to date and innumerable amount of cash disbursements

• Our procedural workflows have not changed significantly in over two decades and no longer reflect best-practices nor students best interests.

Average time to process a deposit: 4 business days to 1 week

Cheque requests: 1 week

Cash disbursements: 3 business days

Journal Vouchers: 1 week+

Office backlog: Average of 12 business days backlog for non-cash, subsidiary payments

Coding inaccuracies: ~6% of transactions are miscoded by either staff or submitters

Policy compliance: Over 10% of requests are not following AMS/FinCom policy

CURRENT STATS

“How quickly were we able to resolve your issue?” Over 30% of respondents said we were not able to resolve issues in a

timely fashion Comments from club executives

“Processing invoices is where I have the most trouble with errors and time”

“I would like it if there were an easier way to pay external organizations…”

“It sucks that people can only pick up their reimbursements during select hours”

“The banking system with the AMS is outdated” “Improve SharePoint reports and the software as they doesn’t function

properly” “AMS procedures take much too long to get anything accomplished”

CUSTOMER SATISFACTION

SOLUTIONS (yay)

Discovery Evaluation Product selection Outcomes

EXPENSE AUTOMATION

Additional functions Online reporting Journal Vouchers Money orders Insurance requests Corporate credit card requests Float requests

EXPENSE AUTOMATION

EXPENSE AUTOMATION

EXPENSE AUTOMATION

Current solution Rezgo

Evaluation Product selection Outcomes

eCOMMERCE

Discovery Ungerboeck

Current solution SugarCRM

Outcomes

Additional functions Contracts Subsidies Grants Management Waivers

CRM

CRM

CRM

Last “audit” completed 3 years ago Need for updated data Implement new procedures Actually conduct audit of all fixed

assets

AUDIT

BENEFITS

Improves service to AMS, clubs and constituencies. Organizes and

increases data access Reduce A/R & A/P

Costs

BENEFITS

Increased security, fraud detection, and error detection Sustainable

practices (less paper! YAY!) Brings AMS up to

the 21st century

BUDGET

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Component Cost

Expense Automation $41,000 OTC

eCommerce $0

CRM $1,000 OTC $500 annual

Audit $1,000 OTC

BUDGET

Other costs Cost

Systems Project Coordinator $16,800 OTC

5% Contingency $3,015

$63,315 TOTAL PROJECT COST

Funding Source: Capital Projects Fund (formerly Student

Spaces/CPAC)

Current Balance: $724,000 Expected Revenue for FY15: ~ $350,000

BUDGET

FIN.