Workday

Financials

Introduction

Workday@Yale

April 18, 2017

• Overview

• Functions and Features

• Roles

• Chart of Accounts

• Next Steps

Agenda

Overview

Workday@Yale

Simplify and standardize processes

Make it easier to get work

doneand harder

to make mistakes

Minimize administrative

work for faculty,

studentsand staff

Lower operating costs and improve

effectiveness

Provide accurate, trusted,

and timely reporting

Workday@Yale Objectives

Meeting the evolving needs of higher education.

Workday integrates financial, HR, academic, and research information to offer:

• Frequent releases that optimize the system• Flexible reporting to meet changing needs• Mobile access and self-service – anytime, anywhere

Community and Communication Impacts

~6,600Faculty, Postdocs, Fellows

~4,500 Managers

and Professional Staff

~3,900Clerical Workers and Technicians

~250 Central Finance Groups

~200 Lead Administrators and Operations Managers

~150 Service Teams

~100 Senior Leadership

Program Team

Workday@Yale Team Members

Local Communication and Support Members

Service Group Members

66162

262

Support Center Staff

300+

Impacted Systems

We are working to ensure that Workday information flows smoothly between existing systems such asthe ID system, SciQuest, Facilities, etc.

Where necessary, we are making changes to those existing systems.

Systems Critical for Go-Live 92

Other Systems 81

People Data Only 81

Financial Data Only 58

Financial and People Data 34

Jan-Mar Apr-Jun Jul-Sept Oct-Dec

Training

Financials Go-Live

Prepare for Go-Live

HR/Payroll/Academic Optimization

Weekly Updates, Supervisor Updates, Information Sessions

Post Go-Live Support (including YSS, ESC, ITS Help

Desk)

2017 2018

User Testing

Financials Optimization

Timeline

Functions and

Features of

Workday

Workday@Yale

• Workday is built for staff to be able to help themselves find information and take action on their own

• Staff may access old expense reports to check status of payments

• Track procurement processes like POs and Requisitions

Workday Features

• Enter expenses using the mobile app

• Attach photos of receipts

• Receive notifications

• Access your inbox

• Adopting a Software-as-a-Service (SaaS) financial system will put Yale at the forefront of enterprise technology

• Regularly updated—just like your phone’s operating system

• Cloud hosted for greater efficiencyand security

• Notifications of Business Processes requiring action will arrive in the Workday Inbox

• Replaces email

EmployeeSelf Service

WorkdayMobile

Software-as-a-Service

WorkdayInbox

Grants

Purchasing and Expenses

Finance and Asset

Management

• Purchase Requisitions through SciQuest

• Expenses (EMS)• Cash Advances• Check Requests• Invoice Payments• Vendor Setup

• Award Setup• Subawards• Effort Certification

• Payroll Costing• Journal Entries• Endowments and

Spendable Gifts• Commitments• Moveable Asset

Inventory• Cash Sales (RIF)

Financial Monitoring : Financial Management and Transaction Monitoring Reports

Financial Functions Moving to Workday

Mobile Expenses Capabilities

Workday@Yale

Workday Roles

POSITIONS

• A Position is the “seat” that a specific Worker occupies

• A Position does not refer to a job title

• May be assigned one or many Workday roles

ROLES

• Are assigned to Positions

• Determine function in a business process (i.e. initiate, approve, etc.)

• Determine what you can see and do

• Provide access to data within the assigned cost center

Workers are hired into Positions and inherit the Workday role(s)

of the Position

Workday Roles: Who Does What

Chart of Accounts

Workday@Yale

What is the Chart of Accounts (COA)?

Today we call it … Tomorrow we will call it … What is it?

Oracle Chart of AccountsChart of AccountsCOA

Workday Chart of AccountsChart of AccountsCOA

General term to describe the full set of data points used for standard accounting and financial reporting.In Workday, this includes delivered pieces of the Workday Financial Data Model (FDM) and also some worktags that are configured by Yale.

COA Segments COA Segments Each individual piece of the chart of accounts – the buckets.

Oracle Project, Org, etc. Workday Program, Cost Center, etc.

The list of values for each segment are called the “segment values.”

Charging InstructionsPTAEO

Charging Instructions Accounting string - PTAEO

Expenditure Type Ledger Account COA segment used for general ledger accounting (revenue, expense, assets, liabilities)

Next Steps

Workday@Yale

Workday@Yale Website

19

We are developing a plan now to prepare you for Go-Live and will share more information in the coming weeks, including:

• Cutover Dates

• Impacted Systems

• Interim Steps

Just prior to Go-Live there may be a brief “pause” in some financial activity.

Preparing for Go-Live

What’s Next

• Become an ambassador of change

• Familiarize yourself with your local Change Network participants

Do you know who your Change Partner is?

Do you know who your Local Workday Guru is?

• User Acceptance Testing, April 17 – May 19

• Sign up for training

End-User Training begins the week of May 22

21

• Attendance is encouraged at upcoming awareness and training sessions

• Watch training videos posted on www.workday.yale.edu

• Provide feedback and contact workday@yale.edu with any questions

• Find more information at www.workday.yale.edu

Community Engagement

Questions

& Discussion

Workday@Yale