Workday Finance: General

What is Workday Finance?

  • Workday Finance is the third phase of the Enterprise Resource Planning (ERP) initiative. This project will provide a flexible and transparent technology platform for the efficient delivery of Finance services across the University. This includes the replacement of FRS/DMAS, how you purchase items, how you are reimbursed for items, and how grants are managed.

What is included in Workday Finance?

  • The Workday Finance project will include procurement, accounts payable, endowments, grants administration, general ledger/financial reporting, banking, and asset tracking (including capital projects).

Who will be impacted by Workday Finance?

  • Workday Finance impacts any employee in a central office, as well as those who purchase materials and receive expense reimbursements. 

What is the project timeline?

  • A description of project phases, as well as the timeline, can be found here.

Why did we decide to change our existing legacy systems?

  • The University of Miami is committed to ensuring that we have the latest technology and tools so we remain competitive in the higher education market.  In 2011 University of Miami leadership performed a thorough analysis to determine the best administrative information system available to the higher education and healthcare markets. The ERP Selection Core Team recommended the acquisition of Workday’s Human Resources and Finance modules. The ERP Executive Steering Committee reviewed the recommendation of acquiring Workday’s Human Resources and Finance modules and the University’s Board of Trustees approved the funding and implementation. 

What are the roles in Workday Finance? How are they assigned?

  • A detailed listing of roles can be found here. Check back regularly for new roles.

What IT security measures are in place to ensure that Workday cannot be hacked or phished, like the recent attack?

  • The implementation of Duo’s multi-factor authentication system across Enterprise has enhanced our security protocols. More information on how to avoid falling victim to phishing attempts can be found on the UMIT website.