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Finance Transformation

(25 May 2018)

As previously communicated by the Vice-Chancellor, the Durham DOES programme is closing, with the focus moving to getting IT systems in place alongside better management information in key areas such as Finance. University Finance Transformation will be progressing and the University Executive Committee (UEC) has agreed a business case and a plan to proceed with a package of work to deliver the Finance Transformation.

Finance and Procurement communities across the University have already been involved in a series of discovery and planning workshops to identify possible improvements in preparation for the implementation of Oracle Fusion, which is anticipated to go live in 2020 at the earliest, but colleagues will be asked to get more involved in the detail of getting ready for this change in the very near future.

Oracle Fusion is a user-friendly integrated IT platform that enables functions, such as Finance and HR, to not only share data and information efficiently, but also to improve the effectiveness of decision-making. Also being considered is how new reporting tools maybe chosen and implemented to improve the quality, timeliness and availability of financial and other information.

Priority Areas

Staff that have already participated in Finance and Transformation workshops have helped to identify seven priority areas for improvement as follows:

  1. Management Accounting, reporting, processes and systems - Standardising the reports and underlying reporting processes across the University.
  2. Review of Payment and Travel cards - Including processes, policies and the use of all cards.
  3. Simplify the General Ledger structure - Simplifying the cost centre and account code hierarchy.
  4. Financial management of capital projects and asset registers - Standardising the financial management and governance processes across Capital Projects and unifying the asset registers.
  5. Review of Procurement contact savings - Maximising the value achieved from contract savings.
  6. Organisational preparation for Oracle Fusion platform - Aligning the organisation to the new platform.
  7. Simplify the recording of time for payroll purposes in the Colleges - Simplifying and automating the process for recording time within Colleges.

Opportunities to get involved

You will be offered the opportunity to get involved in workshops and meetings that will be promoted over the next few weeks via Dialogue Signposts, managers, email etc. The workshops and meetings will be arranged to provide you with more insight into what has been planned; to provide you with the opportunity to feedback on the priority areas and to provide you with opportunities to get involved and help deliver Finance and Procurement Transformation across the University.

Initial information sessions have been scheduled to allow you to hear further details about the work that is planned. Each session will cover the same topics and will last 45 minutes and are scheduled as follows:

  • Session 1:Thursday, 7 June 2.30pm, Derman Christopherson, Calman Learning Centre
  • Session 2: Thursday, 7 June 3.30pm, Derman Christopherson, Calman Learning Centre
  • Session 3: Tuesday, 12 June 1.30pm, Kingsley Barrett Room, Calman Learning Centre
  • Session 4: Tuesday, 12 June 2.30pm, Kingsley Barrett Room, Calman Learning Centre

All staff are welcome to attend one of these sessions but in order to secure your place please book here.

Have something to include?

Please liaise with the designated contact for your department or college. For further guidance, email dialogue@durham.ac.uk

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