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Montclair State U Overhauls Financial Management System

Montclair State University in New Jersey is implementing a new financial management solution with the goal of improving service for students, staff, customers and partners.

The implementation is part of the university's OneMontclair strategic transformation initiative, which aims to revitalize the way the university does business and improve service for its constituents. According to Catherine Rush, director of Financial Systems Administration for the university, Montclair conducted a series of business process review sessions, which revealed "that we have too much paper and too many approvals, and that our information cannot be easily accessed." she said in a prepared statement. The university's existing financial records system was also outdated and unsupported, so it was time to upgrade to a state-of-the-art, enterprise-wide system.

The university selected Oracle's PeopleSoft Financial Management System (FMS) and has contracted with Cognizant, a provider of business and technology services, to implement the solution and provide supporting IT infrastructure. Cognizant plans to complete phase one of the implementation in July 2015, when it will go live with PeopleSoft FMS modules for purchasing, accounts payable, general ledger, commitment control, cash management, accounts receivable and billing, contract and grants and project costing. Phase two is scheduled for completion in January 2016 and will include modules for strategic sourcing, e-settlement,  e-supplier connection, asset management, travel and expenses and mobile application capabilities.

According to Cognizant, PeopleSoft FMS will enable Montclair "to make optimal financial decisions and develop effective short- and long-term strategies to support the University's growth and emerging needs" and "to integrate and streamline financial processes across departments."

Montclair State University is located in Montclair, NJ and serves more than 20,000 undergraduate and graduate students.

About the Author

Leila Meyer is a technology writer based in British Columbia. She can be reached at leilameyer@gmail.com.

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