Challenges.
FAU’s reporting requirements include data from third-party systems along with historical information gathered prior to the Workday deployment. Blending non-Workday information required manual data pulls, manipulation in Microsoft Excel and reconciliation for historical record requests, long-term financial analysis, and business unit performance reports.
Why Workday.
FAU needed a partner who could provide hundreds of stakeholders with seamless security-enabled access to data originating in Workday, created before the Workday deployment, and originating outside of Workday.
One of the greatest experiences my team and I have had is the partnership with Workday. They are as passionate about their product as we are, and dedicated to making sure the technology meets our needs.
Assistant VP for Finance and Information Systems
Benefits and results.
Historical data.
Historical record requests and long-term financial trending analysis required routine blending of legacy system data and Workday production data. With Workday, FAU migrated and stored historical records containing 12 years of finance and HR data, required by public institutions, and turned off its legacy systems.
Single source for historical inquiries
Total of 10-15 legacy data sets at 800 MB
Revenue detail.
Reconciling transaction-level detail from FAU’s payment gateway system was challenging with its legacy system. Business owners couldn’t reconcile summary-level postings with transactional details. FAU leveraged Workday Prism Analytics to import that detail into Workday, augmenting dashboards with revenue detail associated to non-tuition receivables, receivables, such as e-gaming, parking.
Financial worktags tied to transactional composition
Supports 100 users across business owners
New use case development time reduced to 3-4 weeks
Financial and budget.
Financial executives needed 10+ years of data for financial trending reports, requiring manual pulls of historical data and blending legacy and Workday data across financial data models (FDM). FAU loaded legacy financial data and the FDM crosswalks into Workday Prism Analytics for on-demand reports.
Dashboards can display 10+ years of financial data
Answers to questions about revenue sources in one location
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