Modernizing UC Riverside's Financial Systems
The Impact23 program is a multi-year initiative that 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 to implement the UC mandated Common Chart of Accounts (CCOA), standardize business processes, and replace existing financial systems with new, cloud-based applications that include 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, and yet UCRFS is on a version that is no longer vendor-supported. In an effort to comply with UCOP’s CCOA initiative, UCR has an 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 the 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 to focus on 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 is your primary resource for program updates, tracking deadlines, and engagement opportunities such as training and events.