Budget Process and System Evaluation

In an effort to improve the university’s budgeting processes, the Office of the CFO recently completed a thorough review of UF’s business processes and technology used for university budgeting and analysis. As a result of this process, the decision was made to adopt the Workday Adaptive Planning software to replace Hyperion as the university’s budgeting tool. Throughout the 2021-22 academic year, we will work with an implementation partner and our UF financial partners to design, build, test and train the UF community on the new tool. Our goal is to launch the FY23 “Funds Budget” in the spring of 2022.

Benefits of the new system will include:

• A modernized, more powerful and responsive tool with simplified navigation
• Ability to review and analyze budget-to-actual information at the college and unit level
• Ability to manage budgets by position
• Multi-year planning and commitments
• Real-time information that eliminates the lengthy “push” process users currently experience
• Improved analytics and timely reporting to assist in strategic management of budgets
• Technology that helps reduce errors and risk

As the project continues to evolve, we will share more information — including timeline and opportunities to participate in this process.

Project Input

We are grateful to the following individuals who offered their time and expertise to participate in surveys, focus group sessions, business process mapping and analysis, and vendor demos. The feedback received was essential to identify the tool that would best meet the needs of our diverse university community.