Administration and Finance posts displayed by tag

Quantum Financials Chart of Accounts Discovery Session Set for Jan. 31

With the Quantum Financials team in the process of creating a new Chart of Accounts (COA), Susan McKechnie, assistant vice president and University controller, will lead a COA discovery session on Jan. 31 to explain what you need to do now to be ready.

The discovery session will run 10 a.m. to noon and be held at Pharmacy Hall, Room N103,

This session is the first step in preparing to convert data from eUMB Financials to UMB’s new financials system, Quantum Financials. The presentation will familiarize you with the proposed Chart of Accounts. Most important, it will lay out the actions your department needs to take now while there is time to revisit some decisions that have been made to date. The presentation also will set expectations for what will be required of departments over the next few months (including some clean-up in eUMB Financials).

This meeting is especially important for any departmental staff who prepare financial reports, analyze financial transactions, or create budgets for non-sponsored funding streams. However, anyone interested in the new Chart of Accounts is welcome to attend.

Plan to join us at this session to gain an understanding of where we are going with the Chart of Accounts changes and the steps your department needs to take now.

Robin ReidTechnology, UMB NewsJanuary 5, 20181 comment
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Quantum Financials

The Voters Have Spoken!

We have a winner! UMB’s new financial system will be known as Quantum Financials. The name was submitted by Chiradeep Mukherjee, enterprise wide application specialist in administration  and finance.

Chiradeep’s entry also included a tag line, which inspired the contest team to create one for the new name as well: Quantum Financials | A leap forward. Transforming systems. Empowering people!

Dawn Rhodes, CFBO and VP, commented that she likes the image of “leaping forward” with the new system. She continued, “Enhancing and improving UMB’s financial tools and reporting capabilities is one of the primary goals of this project. While development details and tactical project plans are still being finalized, one thing is certain. Many of you will be asked to become involved in the project as we further define, configure, test and deliver Quantum Financials.”

Thanks again to the hundreds of you who participated by submitting an entry and by voting for your favorite. We’ll keep you posted here and other places as we announce more ways to stay involved with this initiative.

Robin Reid Contests, TechnologyJuly 20, 20170 comments
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Can You Name It?

As we told you a few weeks ago, eUMB Financials and RAVEN will be retired when UMB’s new cloud financial system goes live. That means that the new system needs a new name.  You could be the person to come up with that name! The winner will receive an Amazon Tap Alexa-enabled portable Bluetooth speaker with several accessories.

The sky’s the limit! Are you ready? Do you have a name you’d like to propose?

Here’s what you need to do:

  • UMB Employees or Affiliates may submit entries by email to
  • Submissions must Include the following information:
    1. Submitter’s first and last name
    2. Campus email address
    3. Campus Phone Number
    4. Your suggested name for UMB’s new cloud-based financial system. (You may include more than one suggested name per email.)

Submit your proposed name(s) NO LATER THAN the end of day on Wednesday, June 28.

Here’s what happens next:

  1. The contest committee (who cannot enter, by the way!) will review all entries and select the top names.
  2. In the July 10 issue of the Elm Weekly, we will share the top submissions and ask readers to rank your favorites by July 18.
  3. The winning entry will be announced in the July 24 issue of the Elm Weekly.

The Fine Print

The winning entry becomes the property of the University of Maryland, Baltimore.

Background Information on the New System

To get some ideas flowing, here’s a little more background on the new system.  When it goes live, the financials cloud system will transform how we work with administrative systems at UMB. The decision to move our financial system to the cloud places UMB at the forefront of our industry – both with peers in higher education and within USM.

The new system will improve reporting and analytics and make it easier to access to UMB’s financial application since the cloud application will be available on mobile devices as well as on desktop computers. The new cloud system will allow UMB to take advantage of the best practices and process solutions built in to the software. The more frequent delivery of updates also provides the ability to stay current with these best practices and processes.

So go on…get creative! Come up with your unique idea. And make your mark on UMB systems history.

Robin Reid Bulletin Board, Contests, People, Technology, UMB News, University AdministrationJune 8, 20170 comments
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Financial Image

UMB Announces Project to Replace eUMB Financials and RAVEN

With the May 17 signing of a contract between University of Maryland, Baltimore (UMB) and Oracle America, Inc., the campus has moved one step closer to its goal of replacing UMB’s financial and data reporting applications with a more modern, cloud-based system.  When the new system is complete, eUMB Financials and RAVEN will be retired. The contract with Oracle America, Inc., covers software, cloud services and the implementation services that will complement UMB’s project team during the work to configure, test, and deliver the new system.

Moving to a cloud-based application gives UMB the ability to stay current with functionality, security, and technology. In addition, the new system will deliver improved data reporting and analytics capabilities. The move to a cloud-based financial system will also improve access to UMB’s financial tools since the application is designed for use on most mobile devices – including tablets – as well as on desktop and laptop computers.

About 200 people from across campus have already been engaged in preparing for this change including gathering requirements for the system, providing feedback on the vendor software demonstrations they attended, validating core business processes, providing input that has resulted in the strategy for data reporting and analytics, and contributing to the development of a change management approach by providing input both in person and through survey responses.

More information on how you can participate will be forthcoming. Stay tuned!

Robin Reid People, Technology, UMB News, University LifeMay 18, 20172 comments
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