Moving to the Oracle Cloud allows Pitt to more effectively align our business practices and processes with advancements in technology.
Our goal is to provide as much ease of use with technology in our professional lives as we have in our daily lives. A modern, user-friendly web interface will be the gateway to an integrated suite of applications employing best-practice processes with built-in social, mobile, modeling, and analytic capabilities to deliver enhanced services to the University community. Whether it is submitting a time card, accessing benefits information, analyzing financial results, or recruiting talent, Oracle Cloud will deliver direct access to simplified and standardized services to everyone in the University community.
Below are benefits the new Oracle Cloud system will bring.
- Provides a single point for accessing and managing transactions in all of the Oracle and third-party applications (i.e. Human Resources, Payroll, Benefits, Time and Attendance, Procurement, Grants Management, Budgeting & Planning, General Ledger, Account Payable, etc.).
- Enables Pitt to transform and automate business processes for competitive advantages.
- Provides predictive, informative, and actionable analytics within the applications.
- Integrates data and allows drill-down, drill-through capabilities to source transaction documents and follow process streams.
- Provides embedded query and reporting tools for comprehensive analyses and better decision-making capabilities.
- Allows rapid deployment of new functionality to keep pace with best practices and regulatory requirements.
Oracle Cloud Human Resources and Payroll:
- The first step in modernization will occur this winter 2018/2019. Applicant tracking and recruiting will be automated so that prospective candidates remain connected to Pitt throughout the process and remain within a talent community for future openings. Hiring and business managers will be able to access updated information and statuses to make informed decisions.
- In early 2020, core human resource and payroll processes will be enabled in Oracle Cloud: employment actions on the employee record will be automated; enhanced employee onboarding and resource provisioning will speed the hiring process and enable employees to become productive more quickly; online W-2s and other employee self-service features will be available.
- After Oracle Cloud core human resources and payroll processes have been implemented in 2020, improved talent and compensation management tools will continue to be introduced.
Oracle Cloud Budget Management, Analytics, and Financial Modeling:
- The Oracle Planning and Budgeting Cloud Services (PBCS) application is now available and will continue to be enhanced by integrating purchasing and payment data, and drill-down capabilities to source transaction documents.
- Compensation data will become available with the migration to the Oracle Cloud Human Resources and Payroll and a future phase will incorporate the annual budget load process.
- The PBCS will provide budget modeling scenarios, including the ability to create “what if” scenarios to “test” reallocations of salary and non-salary expenses among all sources of funds to manage budgets.
- Built-in analytics and reporting enhancements will continue as the application is rolled out and additional functionality is developed.
Oracle Cloud Financials:
- Oracle Cloud Financials will help Pitt transform and automate business processes in the financial areas including the following:
- Enhancing integration and reporting with HR data.
- Optimizing the Chart of Accounts to better assist customers and meet our financial management and analytical needs, as well as mandated reporting in accordance with Generally Accepted Accounting Principles.
- Offering embedded analytics and dashboards to manage and track financial activity including revenues, expenses, and fund balances for all funds/entities.
- Enhancing sponsored projects accounting and reporting utilizing sub ledger functionality.
As we begin this multi-year initiative to migrate to Oracle Cloud, we will keep you informed of its progress. In addition to regular communications, a new website is coming soon that will provide information about the project and its implementation. We will be reaching out to the University community to solicit input and feedback. We are excited to partner with you as we embark on this new venture.