CMS Implementation(1)

8/11/2019 CMS Implementation(1)

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Four Tools for Financial Management

Introduction

Those who manage accounts at Stanford have abundant robust toolsavailable to them. It is up to them to leverage the features of each tool inthe way that can best serve their business needs. We provide a briefdescription of ReportMart3 Faculty Financial in!uiry Tool "FFIT# and ShadowSystems and discuss the $ommitment Management System"$MS# in detail.

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CMS Commitment Management System $MS is a planning and forecasting tool.

&ard commitment ' e(penditure data from )racle Financials is fed nightly

to $MS. Revenue data is not fed to $MS.

*sers with *pdate +uthority can forecast by,o Modifying -hard commitments

o +dding -soft commitments

o $reating soft budgets

o $reating custom periods

Forecasts created in $MS do not alter commitments in )racle Financials.

+ctual e(penditures replace forecasted numbers as the pro/ect

progresses which allow 0nancial managers to get an early warning ofpotential overdrafts note con1icting commitments plan future actionsetc.

Checklist: Steps to Implement CMS to Forecast, Report, andReconcile PTAs%. 2earn about $MS at the $MS website "http,cms.stanford.edu#4. Schedule a $MS )verview 5resentation for your management team

"optional#3. Ma6e certain everyone is granted the appropriate authority to use $MS

a. Managers grant individuals authority in the +uthority Managerb. Individuals complete re!uired $MS training for *pdate +uthority

byregistering in ST+RS for )R+7%%48

9. :nsure your computer is set up for $MS

;. *se $MS to forecast report and reconcile 5T+s


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3ie) AuthorityT)o le(els a(aila"le: CMS Salary 3ie) 4 includes both salary and non7salary "i.e. goods

and services# transactions.

CMS 5on4Salary 3ie) 4 includes only non7salary "i.e. goods andservices# transactions

?oth must be granted by your manager

Matches your current RM3 authority +llows you to view forecasts created by others for your

5T+s

2pdate Authority

T)o le(els a(aila"le: CMS Salary 2pdate 4 includes both salary and non7salary "i.e.

goods and services# transactions. CMS 5on4Salary 2pdate 4 includes only non7salary "i.e. goods

and services# transactions. ?oth must be granted by your manager ?oth re!uire you to complete training before using $MS ?oth allow you to forecast for your 5T+s ?oth include @iew +uthority

>our authority will control which screens or features you can access. Fore(ample if you do not have salary authority you will be able to accesstotal salaries rollup )A2> and you will not be able to access information

below the total salaries rollup.

>our authority dictates the updates you can perform in $MS. >ou canupdate 5T+ lines over which you have been granted authority. If youshare costs "salary or goods ' services# with another )rg you can viewthe entire distribution in $MS even if you do not have authority over allthe 5T+s. &owever you will be able to update only the lines for which youhave authority. Stanford 5olicy on con0dentiality of data applies.

Recei(ing$/ranting Authority 0 Reuired TrainingReceiving $MS +uthority is a two7step process,

%. >ou must complete a training class which consists of an overviewpractice in the $MS Training :nvironment and ; authority tests. >oucan ta6e the training either in a hands7on lab or online. You musthave approval from your manager to take CMS Training. $MS hasconte(tual help throughout the application to guide the user.

4. When you enroll in )R+7%%48 Overview of CMS, in ST+RS a $MSteam member will contact your manager to ensure you areauthoriBed to ta6e the training determine which authority role you

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will have and identify the )rgs andor 5ro/ect7Tas6s to give youauthority for in the $MS Training :nvironment.

3. )nce you complete the training a $MS team member will notifyyour manager that they can grant you authority via the +uthorityManager for the )rgs andor 5ro/ect7Tas6s you need access to in

$MS. >ou can then begin using $MS.Managers have the option of allowing the $MS team to uploadthe authority on their behalf or performing the tas6 manually.$ontact5atti Mc$abe for further information on how authority isbeing performed in your school.

6 Computer Setup %or CMShttp:$$cmsstan%ordedu /etting Started Computer Setup

For 5$ use Internet :(plorer )A2>.

For M+$ use $ITRIC

7 2se CMS to Forecast, Report, and Reconcile PTAs https:$$o%)e"stan%ordedu

Discuss 5T+ nic6name feature and nic6name conventions with your group.

Discuss roles and responsibilities for 5T+s in $MS E remember everyone

who has authority can update the same 5T+. $MS allows you to view and report on the data from many source

systems i.e. 5eopleSoft FS and i5rocurement. $MS is a user interface for )racle E in )racle you pull data via

ReportMart3 ReportsG in $MS data is pushed to you by your searchcriteria. ?ecause of this you may view data you did not 6now e(isted orthought was inactive. If necessary correct the data you feel is old orincorrect in the source system"s#.

$MS allows you to modify all aspects of pay including labor distribution '

salary update. $MS allows you to view the pay history for all personnel E faculty staH

and students. $MS allows you to forecast leave and other supplemental pay.

$MS allows you to add -soft commitments including burden.

$MS has direct lin6s to )racle Web In!uiry where you can view andor

suppress a 5). $MS allows you to view outstanding commitments and actual e(penses

for oods ' Services which can ma6e reconciliation easier. Reduce time spent entering data manually into Shadow System"s# by

using $MS Reports or e(porting data to spreadsheets.

8 Impro(e 9usiness Processes+fter everyone in the wor6 group including the manager has used $MSmeet to discuss the following,

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mailto:[email protected]://ofweb.stanford.edu/mailto:[email protected]://ofweb.stanford.edu/


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$an business processes be streamlined and improved using $MS

+re there ways to eliminate manual data entry into Shadow Systems

Is it possible to eliminate some Shadow Systems

What are the best uses for $MS Report

CMS 9enets %or Administrators

Reduced audit e(posure as $MS allows you to forecast and ma6e better 0nancia

decisions. Reduced time correcting errors as users have a tool that will -do it right the 0rst

time. :liminates late cost transfers which can result in the 5I having to absorb the cos

Reduced time spent to produce forecasts and reports.

Reduced time spent manually entering data and manual calculations.

Reliable $MS auto7calculations result in accurate data in forecasts and reports.

&ard commitment data feeds are timely accurate and reliable.

+bility to easily manipulate data to create -what if scenarios. 2ess time re!uired to provide better 0nancial management.

5I satisfaction with the results of $MS analysisG problems are identi0ed and

corrected early and late transfers and overdrafts are reduced.

9enets %or Faculty

$MS forecasts and reports are easy to read and interpret.

$onsistent reports from all departments and schools save time and

reduce confusion. Fewer unpleasant surprises at $loseout.

#hat 2sers Are Saying A"out CMS

$MS Reports$MS allows administrators to provide uniform and consistent reports to the entiredepartmentschooluniversity which is a ma/or bene0t to those doing interdisciplinaresearch.The Month by Month Burn Rate by PTAreport shows actual e(penses and outstandicommitments.Reports in $MS are clear meaningful and easy for your 5I to read.Forecasts automatically default to F> for non7sponsored awards and 5TD for

sponsored awards.>ou can create a $ustom 5eriod providing the ability to report for a diHerent timeperiod then the default period.>ou can create a $ustom ?udget which allows you to rearrange e(penditure types"with more or less detail# and you can even modify the bottom line dollar amount.This feature is especially powerful if you anticipate more funding and want to forecausing that 0gure.>ou can download report data to :(cel in two formats "with header or data dump# syou can easily perform scenario analysis.

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>our reports can be labeled with -nic6names a more meaningful description forsome faculty than the 5T+ E unli6e the 2abor Schedule reportJ

$MS +uto $alculations>ou tell $MS when someone is going on vacation and $MS calculates vacation credi

ta6ing into consideration wee6ends holidays and days in a given month. $MSdistributes the leave credit to all 5T+s the employee is charged to.?urden is automatically calculated showing the actual rate on all soft commitments

$MS is :asy to *se>ou can retrieve 5T+s by 5I.It is easy to generate new soft commitments and modify e(isting hard commitment>ou can easily create alternative scenarios for 5Is "e.g. cost of hiring one vs. two grastudents#.>ou can easily chec6 for outstanding commitments.

+ssists in $loseout by allowing one to easily view outstanding commitments.>ou can lin6 to i5rocurement to review and reconcile 5urchase Re!sorders.>ou can see data from 5eopleSoft &RMS FS )F merged into one place.>ou can get a 5T+ balance !uic6ly.

$ool StuH>ou can view people with multiple assignments.>ou can view all allocations for people in your )rg being paid from an )rg

outside your authority.>ou can clic6 a 5) to view an actual invoice.+lerts.>ou can lin6 directly to )racle Web In!uiry from $MS to -suppress acommitment.

Time Savers@iew salary history showing < months of actual pay to insure people werepaid correctly.@iew /ust the current year for a ?lan6et 5) that covers ; years of a grant 7saves manually removing data from RM3.

$MS is one7stop shopping for reviewing hard commitments.>ou can !uic6ly suppress commitments.


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CMS Report Attri"utes

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;ata Feeds to CMS

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'ther Tools

FFIT Faculty Financial inuiry Tool

&elps faculty manage their *niversity 0nancial resources which theyown as individuals.

+ faculty member can see all +wards 5ro/ects and Tas6s which hesheowns. 5rovides balances and drill7down transaction details for a facultyNs

individually owned +wards 5ro/ects Tas6s. $ontains data that is refreshed daily. $alculates balances using budget revenue e(penditure and commitment

data. 5rovides online help in the form of tips and downloadable !uic6 guides. )ptionally shows allocations to others from the faculty memberNs +wards. Includes revenue as well as budget data for 5T+s.

ReportMart -ReportMart3 "RM3# is the primary reporting tool and environment for the0nancial data in the 'racle Financialssystem. Oey modules of the)racle Financials system "used by distributed users across campus#include, Internet 5rocurement

i?udgets

iPournals

i)* 5$ard

2abor Distribution

Shado) Systems&ighly customiBed :(cel spreadsheets created by individual administrators tomeet the very speci0c needs of the faculty members they support.

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http://fingate.stanford.edu/staff/buypaying/about_iProcurement.htmlhttp://fingate.stanford.edu/staff/fundsmgmt/about_iBugets.htmlhttp://fingate.stanford.edu/staff/fundsmgmt/about_iJournals.htmlhttp://fingate.stanford.edu/staff/buypaying/about_iOU.htmlhttp://fingate.stanford.edu/staff/buypaying/about_PCard.htmlhttp://fingate.stanford.edu/staff/payadmin/about_laborDistr.htmlhttp://fingate.stanford.edu/staff/buypaying/about_iProcurement.htmlhttp://fingate.stanford.edu/staff/fundsmgmt/about_iBugets.htmlhttp://fingate.stanford.edu/staff/fundsmgmt/about_iJournals.htmlhttp://fingate.stanford.edu/staff/buypaying/about_iOU.htmlhttp://fingate.stanford.edu/staff/buypaying/about_PCard.htmlhttp://fingate.stanford.edu/staff/payadmin/about_laborDistr.html

Documents

CMS Implementation(1)