ur financials project · 2013-10-14 · october 16, 2013 reporting strategy - overview ur...
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UR Financials Project Demo Days
October 16, 2013
October 16, 2013
Agenda
• Demo Disclaimer • UR Financials Project Update
– Upcoming Demo Days – UR Financials Project Timeline
• Workday Reporting Strategy – Overview, process changes, data conversion process – Benefits and Challenges
• Workday Demo – Prototypes of Monthly Ledger and Monthly Transactions
Report – The Power of Worktags
• Q & A • Wrap Up
UR Financials – Demo Days 2
October 16, 2013
Chatting for WebEx Participants
3
Mike Bonanno
For those joining the WebEx: • 1) Please access the chat feature at the top of
your screen • 2) Please chat directly with Mike Bonanno
(He will then pose the questions on your behalf)
• 3) Select Mike in the drop down menu in the chat window (do not select “everyone”)
UR Financials – Demo Days
October 16, 2013
Demo Disclaimer
Please Note:
• The material presented in this PowerPoint deck is provided to introduce participants to the capabilities of Workday Financials.
• The configuration of Workday for the University of Rochester is still in process and will continue to evolve.
UR Financials – Demo Days 4
October 16, 2013
UR Financials Project Update
• Topics for upcoming Demo Days
– November: Training
– December: General Update
• Starting January, 2014 - Project Updates
– Testing
– Training
– Data Conversion and Validation
– Cut-Over Plans
UR Financials – Demo Days 5
October 16, 2013
UR Financials Project Timeline
UR Financials – Demo Days 6
Prototype Phase
July 2013
• Configure Prototype Tenant (P1) – completed
• Unit Test
• Validate Configuration
• Build Integrations and Reports
• Initial FRS Data Conversion
• Final Configuration Prototype
Test Phase
November 2013
• Create Test Cases and Scenarios
• System Test
• Conversions
• User Acceptance Test (UAT)
• Begin End User Training
Deploy Phase
July 2014
• Go Live Checklist
• Production Readiness Review
• Go Live
• Continue End User Training
• Post Production Support
• Post Project Review
We are here End User Training Spring through Summer 2014
October 16, 2013
Reporting Strategy - Overview
UR Financials – Demo Days 7
• Workday will be the primary reporting tool used for financial
reporting.
– 1 year of historical summary / balance data will be loaded into Workday
– We will be providing FY14 converted data in Workday reports to reconcile with
existing FRS and COGNOS reports.
• Cognos Financial Data Warehouse will be frozen in July 2014
(after fiscal year close).
– But, FY2014 and prior data will still be accessible after Workday Go-Live.
– Still in FRS Chart of Account terms.
• CumSal and other Cognos datamart systems will accessed in a
similar manner as today; but will be in Workday terminology.
October 16, 2013
Reporting Strategy – Primary Benefits
UR Financials – Demo Days
8
Real time transaction reporting
Drill, slice, pivot, and drill some more
Structured Financial Reporting
Ad-hoc analysis & Worklets
Analytical indicators & Alerts
Excel capabilities
Security and Audit Trails
Mobile integration
8
Demo Today Demo - May
Demo Today Demo 2014
Demo Today Demo - Mar
Demo - June
Demo 2014
Demo 2014
October 16, 2013
Reporting Strategy – Primary Challenges
UR Financials – Demo Days
9
Workday Report Functionality
Financial Statements need greater flexibility
Grant Reporting (WD19 = Grant 1.0)
New System
Different than Cognos
Users of historical data
Prior year detailed analysis
Multi-year reporting
Users of complex Excel files or
secondary systems
WD Security Model / Roles TBD
9
WD21 WD22
Training Adoption
COA Translator
Need to change
Prototype Phase
October 16, 2013
Reporting Strategy - Summary
UR Financials – Demo Days 10
Challenges ahead, but building like for like report versions
• Incorporate new functionality when possible.
Reporting team met with numerous departments across the
University to review reporting needs.
• Cataloged and reviewed 500+ Cognos / FRS reports
• Reviewed Data Warehouse report usage statistics. (80%+ Monthly Ledger / Transactions)
Workday Prototyping
• Prototyped all types of Workday reports and capabilities
• Prototyped 100+ reports (note: Go-Live list will be less)
• Monthly Ledger, Monthly Transactions, and the Power of Worktags
Demo Time
October 16, 2013
Demonstration 1
UR Financials – Demo Days 11
Prototype for Monthly Ledger Report
This prototype leverages the “Manager Financial Report Functionality”
Includes security based on Workday roles
Prior to Go-Live will include the fields necessary to replicate the
Monthly Ledger.
• Note: Screenshots in Appendix B
October 16, 2013 12
Cognos Monthly Ledger Report Monthly Ledger includes data by: • Subcodes, Budgets, Current Month Actual, Year to date, Project to date,
Balance, and variances to budget.
• Includes subtotaling by subcodes.
UR Financials – Demo Days
October 16, 2013 13
Workday Prototype Monthly Ledger Report
• Prior to Go-Live will include fields that replicate Cognos version.
• Note the similar format, including subtotals.
UR Financials – Demo Days
Subcodes
Will Include: • Spend
Category • Ledger
Accounts • Current Month • Fiscal YTD • Budget Amt • Variance to
Budget i.e. expect similar columns as today
October 16, 2013
Demonstration 2
UR Financials – Demo Days 14
Prototype for Monthly Transaction Report
This prototype leverages a spreadsheet-like feature in Workday.
Includes subtotals similar to Monthly Transaction Report
Ability to drill into Journal Lines.
• Note: Screenshots in Appendix C
October 16, 2013 15
Cognos Monthly Transaction Detail Monthly Transaction Detail includes:
• Subcodes, Subcode description, Transaction Description & Dates, Offset, Batch, and Transaction Amounts.
UR Financials – Demo Days
October 16, 2013 16
Workday Prototype Monthly Transactions
• Prior to Go-Live will include fields that replicate Cognos version.
• Note the similar format, including subtotals
UR Financials – Demo Days
Subcodes Trans Desc. & Date Reference & Batch Amounts
October 16, 2013 UR Financials – Demo Days 17
Q & A – Part 1
October 16, 2013
Worktags
Company
Fund
Cost
Center
Ledger
Account
Spend
Category
Expense
Purpose
Revenue
Category
Gift
Loan
Program
Debt
Service Project
Grant
Operating
Program
OLD: Ledger+Account
X-XXXXX Subcode
YYYY -
- - NEW:
FRS Division
FRS Account
FRS Subcode
FRS Attribute
FRS Division = Workday Company. Required on all transactions
FRS Account = Only one of the Workday worktags in green will be entered on a transaction
FRS Subcode = Workday Spend Category for A/P, Revenue Category for A/R
Ledger Account for Journals (may require a Spend or Revenue Category)
FRS Attribute = Workday derived or inherited worktag
Division (derived)
Worktag
XXXXXX
Worktag
YYYYY
Company
CCC
The Financial Data Model (FDM)
18
October 16, 2013
The Power of Worktags
UR Financials – Demo Days 19
What is a Worktag?
• Many keywords can be “attached” to a transaction.
• These keywords can then be categorized and grouped together.
• And - these keywords can then be aggregated, reported, and analyzed
across all transactions that contain that keyword(s).
Bottom-line – Worktags are simply descriptions and categories that
describe key characteristics of the transaction.
Think “Keywords attached to a transaction”
Very similar concept to #Hashtags used in Social Media. Link
But, not free form and Workday provides about 50 Worktag
Categories.
October 16, 2013
The Power of Worktags
UR Financials – Demo Days 20
So what?
• Flexible
• Help to connect different types of transactions across the system
• Provide a dynamic / agile ability to slice and dice your data
Because Worktags are….
Let’s compare the tools:
FRS
• Paper
Cognos
• Blocks
Workday
• Rubik’s Cube
October 16, 2013
Demonstration 3
UR Financials – Demo Days 21
The Power of Worktags
• Note: Screenshots in Appendix D
October 16, 2013
Wrap Up
• A survey link will be emailed to provide feedback on this Demo
• Visit UR Financials Project website for information and materials from Demo Days and other meetings http://www.rochester.edu/adminfinance/urfinancials/
• Next Demo Days is Wednesday, November 20
• Please continue to reach out with questions and share project information with your Department
UR Financials – Demo Days 22
October 16, 2013 UR Financials – Demo Days 23
Q & A – Part 2
October 16, 2013 24
APPENDIX A (Screenshots of Report Type examples)
Note: This is a small sample; not a full list of report examples
UR Financials – Demo Days
October 16, 2013
Appendix A - Highlights of Workday Reporting Types
UR Financials – Demo Days 25
Formatted Statements
Financial Statements
Spreadsheet-like reports
Spreadsheets, subtotals, outlining
Pivot table-like Reports
Pivot-like, drilling, slicing, analytical
indicators
Dashboard-like
Worklets, alerts
WD Roadmap
Heavily investing in capabilities
October 16, 2013 26
Appendix A – Delivered Report Screenshot of Formatted Balance Sheet example
UR Financials – Demo Days
October 16, 2013 27
Appendix A – Advanced Report Screenshot of a Spreadsheet-like example
UR Financials – Demo Days
October 16, 2013 28
Appendix A – Matrix Report Screenshot of a Pivot-Table like example
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October 16, 2013 29
Appendix A – Worklet Screenshot of a Worklet example
UR Financials – Demo Days
October 16, 2013 30
APPENDIX B (Monthly Ledger Prototype)
UR Financials – Demo Days
October 16, 2013 31
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • Search for Manager Financial Report
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October 16, 2013 32
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 1: Make selections in the prompts.
• 2: Save selections via “Saved Filters”
UR Financials – Demo Days
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1
October 16, 2013 33
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • View Results
• Note: Expected to contain different columns than what appears.
UR Financials – Demo Days
Subcodes
Expect: • Spend
Category • Ledger
Accounts • Current Month • Fiscal YTD • Budget Amt • Variance to
Budget i.e. expect similar columns as today
October 16, 2013 34
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 3: Expand details by drilling into total numbers.
UR Financials – Demo Days
3
October 16, 2013 35
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • View Journal details.
• 4: Print, Export to excel
• 5: Or drill down to the Journal Entry
UR Financials – Demo Days
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5
October 16, 2013 36
Appendix B – Monthly Ledger Scenario: Run Monthly Ledger Prototype • 6: Printed version of Monthly Ledger Prototype
UR Financials – Demo Days
6
October 16, 2013 37
APPENDIX C (Prototype for Monthly Transactions)
UR Financials – Demo Days
October 16, 2013 38
Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • Search for Transaction Detail Report
UR Financials – Demo Days
October 16, 2013 39
Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 1: Make selections in the prompts.
• 2: Save selections via “Saved Filters”
UR Financials – Demo Days
2
1
October 16, 2013 40
Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • View Results
• Note the similar columns
UR Financials – Demo Days
Subcodes Trans Desc. & Date Reference & Batch
October 16, 2013 41
Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 3: Drill into any Journal.
UR Financials – Demo Days
3
October 16, 2013 42
Appendix C – Transaction Detail Scenario: Run Transaction Detail for one Operating Program • 4: Review Journal.
UR Financials – Demo Days
October 16, 2013 43
APPENDIX D (Power of Worktags)
UR Financials – Demo Days
October 16, 2013 44
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin data.
This example leverages the results of a “Statement of Activities Report”.
• Description of Worktags – – http://blogs.workday.com/Blog/story_of_worktags.html
UR Financials – Demo Days
October 16, 2013 45
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • This example uses a Financial Statement.
• Search Fin Stat
UR Financials – Demo Days
October 16, 2013 46
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 1: Make selections in the prompts.
• 2: Save selections via “Saved Filters”
UR Financials – Demo Days
2
1
October 16, 2013 47
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • View Results – and now drill, slice, dice, and spin on 62120 Supplies Labs.
UR Financials – Demo Days
October 16, 2013 48
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 3: Drill into data by clicking hyperlink. A pop-up window will appear.
UR Financials – Demo Days
3
October 16, 2013 49
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 4: Use related action triangle to slice data by Company.
UR Financials – Demo Days
4 Company
October 16, 2013 50
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 5: Use related action triangle to slice data by Spend Category.
UR Financials – Demo Days
5 Spend Category
October 16, 2013 51
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 6: Use Advanced button to spin data by Spend Category by Suppliers.
UR Financials – Demo Days
6
October 16, 2013 52
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 7: Use related action triangle to slice Supplier by Company.
UR Financials – Demo Days
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October 16, 2013 53
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 8: Use advanced button to spin Company by month.
UR Financials – Demo Days
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See next slide
October 16, 2013 54
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 9: Drill into the $20,000
UR Financials – Demo Days
9
See next slide
October 16, 2013 55
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 10: View Journal Lines.
• 11: Drill into Journal Entry by using the magnifying glass
UR Financials – Demo Days
11
See next slide
October 16, 2013 56
Appendix D – Power of Worktags Scenario: Leverage built in functionality to slice / dice and spin • 12: View Accounting History
• 13: View Journal Entry and approving manager of Abe Manager.
• 14: Time to call Abe Manager?
UR Financials – Demo Days
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12
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