Month End Process Optimization

Project Overview

Prior to the Integrated Renewal Program (IRP), the month end process at UBC took an average of 24 days (9 days for campus close + 15 days for financial reporting). There is an opportunity to shorten the month end cycle using Workday’s new process and increased level of automation. By shortening the close cycle, leadership gets timelier access to important financial information which leads to better informed decision-making.

Timeline

  • Phase 1: Fiscal Year 2021/22 Apr 2021 ~ March 2022
  • Phase 2: Fiscal Year 2022/23 Apr 2022 ~ March 2023

Stakeholders

Project Owner: Karamjeet Heer, Comptroller

Project Sponsor: Elana Mignosa, Associate Vice-President, Finance & Operational Excellence

Project Manager: Alex Fiuza, Senior Manager Service Excellence Transformation

Key Deliverables

Perform full close monthly and reduce the number of days required for campus close to 6 days by end of fiscal year 2021/2022 (Phase 1), and to 5 days by end of fiscal year 2022/2023.

Project Charter

Interested in learning more about this project? Download the project charter.