Aggie Enterprise is a multiyear initiative to optimize business processes and adopt a system to support our financial, planning and business operations.
To support a modern business environment, we must transform our current business practices.
Aggie Enterprise involves the intersection of several distinct efforts:
- Creating consistency in our accounting structure and practices through a new Chart of Accounts (CoA). As the common language across all financial, planning and business operations, Chart of Accounts work began in January 2021.
- Meeting UC Office of the President reporting requirements. All UC locations are required to report financial transactions to UCOP in the new Common Chart of Accounts format beginning July 1, 2023. While KFS and boundary systems users will continue to use the current Full Accounting Unit (FAU) until Aggie Enterprise go-live on January 1, 2024, central Finance and Financial Systems teams will translate FAU data to the new CoA for reporting.
- Simplifying our fund structure and centralizing fund management through the Common Operating Fund Initiative (COFI). Upon completion in March 2022, COFI funds were incorporated into the data mapping efforts for the Chart of Accounts.
- Configuring the Aggie Enterprise system, supported by Oracle Cloud Financials, to provide functionality currently supported by multiple systems and applications. Chart of Accounts segments and values will be configured in Aggie Enterprise. At go-live on January 1, 2024, KFS users will transition to the Aggie Enterprise system, and all systems users will begin transacting using the new CoA.
The Aggie Enterprise guiding principles were developed to ensure alignment with the university's strategic priorities and industry best practices.
These principles, developed by the project governance in consultation with the project management office and key stakeholders, will inform the governance decisions and project team actions throughout the course of the project. The project governance engages the Aggie Enterprise Advisory Board for recommendations on configuration and process decisions and feedback on the impacts of the project.
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- Aggie Enterprise is a strategic business transformation initiative.
- The project will leverage best practices in financial management and business operations.
- The transformation initiative will drive accountability and decision-making.
- The design will maximize configuration and eliminate customizations.
- The governance team will seek to maintain the balance between timeline, budget and scope.