The Financial Systems Modernization Project is exploring options to modernize the following financial tools:
- FAMIS (the current A&M System financial system) and its interfaces with
- Masterpiece FMS (at Texas A&M Engineering Extension Service)
- Colleague (at West Texas A&M University)
During the Discovery Phase of the Financial System Replacement project, the project team decided additional evaluation was needed. At this time, the project team is evaluating the potential of modernizing current financial systems, such as the replatforming of FAMIS. Current project information and timeline can be found under the Proof of Concept tab.
Proof of Concept Phase
Proof of Concept Phase
Current planning is taking place for the FAMIS replatforming ‘proof of concept’. In October 2019 the Executive Steering Committee, using input from the project team and the Finance Discovery Working Group will make a recommendation on whether to proceed with replatform FAMIS or replacing it.
Phase 1, April 2019: Search
The project team issued an RFP for proof of concept service, Natural ADABASE to C#.net. The RFP was awarded to Asysco and a kick-off meeting was held late April 2019.
Phase 2, May, June, July 2019: Code Analysis and Discovery Reporting
Analysis and conversion of FAMIS code and Data
Work begins on compiling Discovery Report information, to provide the detailed information required for full replatform recommendation.
Phase 3, August 2019: Demonstration and Proposal
Asysco will demonstrate converted code and data to a broad group of member stakeholders. Recommendation will be presented to the System IT Governance Council in mid-October.
Phase 1: Plan
- 2016: September – October
- During the Plan phase, the project charter was written and approved, the Finance Discovery Working Group was formed and the project plan was developed.
Phase 2: Search
- 2016 – 2017: November – April
- During the Search phase, an RFI was written and issued and responses were evaluated. Four vendors (Ellucian, Kuali, Oracle, Workday) were selected to move to Phase 3.
Phase 3: Explore
- 2017: May – June
- During the Explore phase, the team explored solutions from the RFI finalists. Two vendors (Oracle, Workday) were selected to move to Phase 4.
Phase 4: Evaluate
- 2017: August – October
- During the Evaluate phase, the team met with vendor corporate teams and universities using their solutions. A detailed evaluation of modernizing the current financial system was executed. A decision was made to focus on one vendor (Workday) and learn more about how their solution might fit the needs of the A&M System.
Phase 5: Deep Dive
- 2018: March – September
- During the Deep Dive phase, the team hosted vendor demonstrations and working sessions, mapped financial system processes and performed a gap analysis. An additional corporate visit and university site visit(s) done. As a result, it was determined by the project team that the option of replatforming FAMIS should be further pursued.
- 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
Our home-grown financial system has served the A&M System for many years. We are considering replacing it based on the limitations of our current solution and the desire 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.
Our financial system is:
- Built on a mainframe infrastructure, which is stable and reliable but expensive to acquire, maintain and support
- Difficult to adapt to changing business needs
- Dependent on many manual, paper-based processes
- At times, perpetuating business processes that are no longer considered best practices
- Highly dependent on employees with unique specialized knowledge, many of whom are nearing retirement age