Modernizing UC Riverside's Financial Systems

The Impact23 program has been successfully deployed. This multi-year initiative will transform the way UC Riverside (UCR) transacts, develops budgets, tracks spending/revenue, and performs financial reporting. With robust organizational representation and input from subject matter experts and advisors across UCR central offices and academic departments, the program's focus is on implementing the UC-mandated Common Chart of Accounts (CCOA), standardizing business processes, and replacing existing financial systems with new, cloud-based applications including Concur Travel & Expense, Kuali Sponsored Programs, Oracle Budget (EPM), and Oracle Financials.

Since UCRFS’s implementation in the early 2000s, UCR has experienced remarkable growth. However, UCRFS is on a version that is no longer vendor-supported. To comply with UCOP’s CCOA initiative, UCR has taken the opportunity to upgrade the aging UCRFS to Oracle’s modern cloud financial system. To standardize UCR’s technology and better meet the University’s long-term needs, other existing homegrown systems (i.e., eBuy, iTravel, etc.) will migrate to new technology as part of this transition to a new enterprise financial system.

By transitioning to configurable, vendor-supported applications, the goal of the Impact23 program is to ensure we have the infrastructure in place to deliver high-value, reliable, and modern financial services to support the campus community in its mission of teaching, research, and public service. In summary, the program is being undertaken:

  • To implement UCOP’s Common Chart of Accounts by July 1, 2023
  • To address functionality and support deficiencies in the current financial system domains like travel, procurement, accounts payable, and more
  • To provide the campus with robust tools for completing their financial analysis and administrative responsibilities with standardized, configurable off-the-shelf software products that allow for future upgrades

The Impact23 website remains your primary resource for program updates, tracking deadlines, and engagement opportunities such as training and events.