Financial Budget Planning and Reporting Project

Financial Budget Planning & Reporting

As a result of the open, competitive and inclusive RFP process conducted in 2018 for a Financial Budgeting, Planning & Reporting (FBPR) system, the University of Delaware has selected Kaufman Hall – Axiom Software. The integrated planning framework of the Axiom Software will connect UD’s core financial reporting needs with a dynamic budget development and long range planning process. More specifically, university business stakeholders across campus are expected to share benefits of:

  1. Greater transparency: Standard Financial Reporting utilized by university business stakeholders at all levels.
  2. Process Management: Administrator ability to define business rules and logic around key planning drivers, as well as information push/pull workflow structure. System audit controls on security, data changes and financial information mapping.
  3. Integrated Planning: User ability to capture planning input and on-demand review reporting results and impact prior to submission.
  4. Operational Management: Accurate drill up/down features (between summary and detail) for consistent planning and reporting.
  5. Strategic Planning: Sensitivity and scenario versioning functionality.
  6. User Flexibility: Functional user ability to create and save additional financial reports for unit day-to-day operational needs.

FBPR Project Implementation

FBPR system implementation is expected to last 11 months, with a completion goal of December 2019. Our approach during the project life cycle is to iteratively build in features and functionality of the Axiom system: Reporting, Budgeting, Labor Planning, Budget Requests, Forecasting, Capital Planning and Long Range Planning. Please refer to this FBPR project implementation website for information updates and next steps in the process.