Workday Financials @ Stevens

Subject: Workday Financials Implementation Update
From: Lou Mayer, CFO and VP for Finance and Treasurer
Michael Parente, Interim VP for Information Technology and CIO
To: All Stevens Students, Faculty and Staff

The Division of Finance and Division of Information Technology are pleased to share an update on the Workday Financials implementation slated to go live July 1, 2025. Workday Financials integrates with the Workday modules Stevens has already implemented – HCM, Student, and Adaptive Planning – to streamline processes and deliver a more robust, user-friendly experience.

Watch the November 12, 2024, Town Hall recording to hear from the Project Executive Sponsors, Lou Mayer and Michael Parente, and get a project update from Project Managers, Jamie Houghtaling and Steve Flanagan. Learn about changes to budgets and forecasting from Irina Denisov, procurement from Brian Seabold, and supplier accounts from Abiola Ijalana.

A Change Champion Network of Stevens employees has recently been established. This cross-functional team will help connect the project with the Stevens community. Change Champions are learning more about the project now. In the future, they will provide information and resources to help colleagues understand what is changing and why, share feedback with the project team, and support activities designed to prepare users to adopt the coming changes.

As we approach Thanksgiving, we hope that you will all have an opportunity to recharge and enjoy spending time with family and friends. We are grateful for the support of the Stevens community and offer special thanks to the Workday Finance Project Team and Change Champions for their role in shaping our future financial system and preparing Stevens to fully adopt it next summer.

For continued project updates, visit the Workday Financials project website. Please submit any questions you may have to the project team.

Thank you.

Subject: Workday Financials Implementation Update
From: Lou Mayer, CFO and VP for Finance and Treasurer
Michael Parente, Interim VP for Information Technology and CIO
To: All Stevens Students, Faculty and Staff

The Divisions of Finance and Information Technology are pleased to provide you with an update on the Workday Financials implementation slated to go live summer 2025. The Workday Financials project aims to modernize Stevens’ financial operations by integrating all essential functions into a single, unified ERP. This seamless integration with existing Workday HCM and Student modules will enhance real-time access to financial information, facilitate better decision-making, streamline manual processes, and create a more user-friendly experience for finance-related activities, benefiting students, faculty and staff at Stevens.

We have successfully completed design sessions where system requirements were defined to ensure the platform will meet the university's needs. The team is now configuring the system in preparation for testing, which allows us to validate functionality and make any necessary adjustments before the implementation next summer.

We value the leadership of our project team and Workstream Leads who play a pivotal role in leading design decisions to ensure successful implementation. For more information about project leadership and the workstreams, please visit the project website.

A project of this scope requires the expertise of representatives across the university in addition to our Finance subject matter experts. A Change Champion Network is being assembled now across departments. This cross-functional team of Stevens employees connect the Workday Financials project with those across the institution who will use the new system. More information about the Change Champion Network is coming late fall.

For continued project updates, please visit the Workday Financials project website.
Submit any questions you may have to the project team. Your engagement and feedback are highly valued as we build a user-friendly streamlined finance system.

Subject: Workday Financials Implementation
From: Lou Mayer, CFO and VP for Finance and Treasurer
Tej Patel, VP for Information Technology and CIO
To: All Stevens Students, Faculty and Staff

On behalf of the combined Divisions of Information Technology and Finance, we are excited to announce the commencement of the Workday Financials implementation project. This initiative marks the next phase of the ongoing Stevens Workday journey that started in 2015 with Human Capital Management (HCM) and continued in 2021 with the launch of Workday Student.

The introduction of Workday Financials is set to modernize Stevens’ financial operations by integrating all essential functions into a single, unified ERP. This seamless integration with existing Workday HCM and Student modules will enhance real-time access to financial information, facilitate better decision-making, streamline manual processes, and create a more user-friendly experience for finance-related activities, benefiting students, faculty and staff at Stevens. Workday Financials will completely replace the current system of record for finance, Kuali Financial System (KFS).

We intend to roll out Workday Financials on July 1, 2025. Regular project updates will be communicated in the months leading up to the launch, with more detailed information provided as the date approaches. Meanwhile, for the latest project updates, please visit the Workday Financials project website, or feel free to submit any questions to the project team. Your engagement and feedback are highly valued as we work towards this significant milestone.

When does Workday Financial go live?

July 1, 2025

Will I complete my day-to-day work in Workday?

That depends. Many employees will not need to use Workday to complete daily work tasks. If your daily work consists of Finance tasks, you will most likely be completing your work in Workday.

How well will Workday Financials be tested before going live?

The methodology used to build the Workday system consists of phases where the Project Team works with consultants to design the system to work for us. Then we test hundreds of scenarios to make sure it works as we need it to.

Why are we changing systems?

Workday will allow us to continue to unify our systems. It will allow us to focus our time and attention on activities that align to our strategic vision and empower our employees and managers with data to drive business decisions.

How long will information stay in Workday?

Workday will store information indefinitely.

Will employees need to enter any information in Workday to bring Workday up to date when we go live?

No, all information is being loaded into Workday from the various other systems that Stevens currently uses, primarily Kuali Financial System.

Does Workday have audit capabilities?

Yes. Workday always tracks who is doing what within the system.

Who do I contact for Workday Finance support, assistance, questions, issues, and requests?

Scroll to the bottom of this page and click, “SUBMIT A WORKDAY FINANCIALS QUESTION” or email [email protected]

How do I get access to Workday Financials?

Workday is Workday. So the Workday login you use today to elect Benefits or Submit Time Off will be the same login when Workday Financials goes live on 7/1/25. Workday security roles are mostly assigned to the employee position, with employees inheriting the roles of their position.

What is the Foundation Data Model (FDM) in Workday?

The FDM is the structure or framework supporting all financial, management, and operational reporting across the University. Its function is to allow users to mark or “tag” transactions and business objects to make them easier to find, make their business purpose clear, and facilitate reports and summaries. FDM elements are applied to HCM, Payroll, and Financials transactions. The FDM is delivered by Workday to track financial transactions at the line level.