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Financial Systems Modernization
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Home / Project Vision, Objectives and Background

Project Vision, Objectives and Background

The Financial Systems Modernization project is an initiative to replace the legacy technologies behind FAMIS, and to modernize the financial systems and processes used by members of the A&M System.

Project Team & Sponsors
Project Phases & Timeline

Objectives

  • Discover options available to the A&M System to modernize our existing financial tools with a user-friendly, integrated system
  • Improve and simplify processes following industry-accepted best practices
  • Reduce risk and realize efficiencies

Background

Our home-grown financial system has served the A&M System for many years. The current system runs on a legacy computing platform that is reliable but has limitations that include being difficult for new users and expensive to maintain. Our desire is to move to a modern, user-friendly, integrated system.

In 2016, a Finance Discovery Working Group was formed to work with a project team to initiate and develop the discovery process and provide member insight into the needs of a potential replacement financial system.

Challenges we are working to solve

The current system runs on a stable and reliable mainframe infrastructure. The primary challenges with this legacy system include:

  • It is expensive to acquire, maintain, and support mainframe hardware and software
  • It is difficult to adapt to changing business needs
  • It is dependent on many manual, paper-based processes
  • Existing business processes are, at times, no longer considered best practices
  • It is highly dependent on employees with unique specialized knowledge, many of whom are nearing retirement age

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Related Pages

  • About
    • Leadership, Sponsors and Team Members
    • Executive Presentations
    • Partners
  • Accenture Engagement
  • Changes and Impact
  • Change Management Initiatives
  • Frequently Asked Questions
  • Timeline
  • Phase III Ideas
    • Submit an Idea
  • Annual Financial Reporting
    • AFR Timeline
    • AFR Frequently Asked Questions
    • Submit AFR Questions and Feedback
  • BPP Mainframe Shutdown

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