January 26, 2018
Dear MSU Colleagues,
We are pleased to announce that the University will be converting our Finance system from PeopleSoft FMS to Workday Finance, with a targeted go-live of 2020.
The decision was made after extensive review of the University’s needs—most notably the requirements for more timely financial reporting, ease of use, and improved business processes for such priorities as grants management, procurement, accounts payable, and travel and expense reimbursement. Workday’s platform is best positioned to meet our current and anticipated needs over the long term, offering the University:
- A robust cloud-based platform that shoulders many of the support requirements that were traditionally client based;
- An intuitive and mobile-ready user interface;
- The ability to unify Workday Finance and Workday HR (which MSU implemented in 2016), enabling real-time access to common data across Finance and HR functions.
While the Workday Finance product was new and untested in higher education when we began the implementation of Peoplesoft in 2013, it has now matured into a market leader. After diligent review of the product and extensive consultations with a number of higher education institutions that have implemented it, we have a high level of confidence in the quality of the product and its suitability for the Montclair State environment.
Our recent system transformations have taught us, as a University, that transitions require extensive lead time, communication and cooperation. Accordingly, this transition will not happen overnight, and it will not happen without your input. Our implementation plan will ensure that appropriate time and resources are allocated to understanding current workflows and reporting and to comprehensive pre-planning, design, training and testing. We are also committed to continuing support of the PeopleSoft system and ongoing financial operations to meet campus needs during the implementation timeframe.
Over the next several weeks we will host open forums to provide you with more information about Workday Finance, its capabilities, and the preliminary implementation plan–and to seek your input on how we can develop a smooth transition. We look forward to engaging you in this initiative, and thank you in advance for participating in this very important endeavor.
Vice President for Finance and Treasurer
CIO and Vice President for Information Technology