Financial System Project (F$P)
The Financial System Project (F$P) is a Citywide initiative led by the Controller's Office to implement a comprehensive enterprise resource planning system, which includes financial, supply chain management and reporting and analytics functionality. The City has selected PeopleSoft Financial Management and Supply Chain Management, along with Oracle Business Intelligence, as the new system. The new system will achieve the following objectives:
Scalable, Secure and Reliable Technical Solution:
- The need to establish a technical foundation for a Financial System that is reliable and accommodates the changing business needs of the City
- To protect the privacy and security of City employee and citizen personal information (including health and financial-related personal information).
- To establish core functionality within the Financial System that delivers the greatest public service value and operational benefits to the City, by reducing the amount of redundant systems and processes at the City.
Accurate, Dynamic Reporting & Analytics:
- To reduce the effort required to convert data to actionable information, and to increase the accuracy and timeliness of financial, personnel, and acquisition information, which will enable the City to optimize resources and make better-informed decisions.
- To prioritize decisions based on City-wide public service value and operational benefit.
Performance Oriented Processes and Information:
- To facilitate open and transparent City government operations.
- To have a Financial System that minimizes risk and maximizes public service value and operational benefits.
- To increase efficiency to improve City services for the citizens, residents, and businesses in the City.
- To increase the capabilities of the City workforce and optimize the delivery of City government services.
- To implement and operate a Financial System that reduces public service provision and organizational disruption and impact to the City by streamlining operations and efficient support.
The Financial System Project will deliver the greatest public service value and operational benefits to the City by replacing outdated financial legacy systems and also reducing the amount of redundant systems and processes. In addition, the system will also reduce the effort required to convert data to actionable information, and will increase the accuracy and timeliness of financial, personnel, and acquisition information, which will enable the City to optimize resources and make better-informed decisions. The new system is scheduled to go-live in July, 2017.