Industry
Transportation
Region: United States of America
Summary
Team SFA developed a comprehensive Funds Management System within PeopleSoft Financials to manage multi-billion dollar external (federal and local grants) and internal funds (debt and credits) for a large transit authority to empower funds administrators to automate funds capture, execution and billing/utilization activities with proper workflow controls and audits
Objectives and Challenges
- Objectives: Implement streamlined capital and operating funds management solution to restore confidence with grant stakeholders and general public
- Challenges: Complicated funding splits across donors; multi-billion dollars funds management program with high transaction volume; multiple sources of project expenditures and complex integrations; complex statutory reporting and multi-departmental obligations and approvals; master data and project expenditure data quality control; cross-departmental system implementation
Results
- First-In-Transit Operating and Capital Funds Administration and Billing/Utilization of multi-billion dollars programs managed under one platform – endorsed by external stakeholders/grantors
- Over a billion dollars historical expenditure’s clearance for reimbursable billing and/or utilization
- Total transparency in transaction processing and reversals with configurable workflow and audit-friendly system
- Standardized reporting and dashboards across funds management
Benefits
- Comprehensive funds administrations and execution
- Restore confidence with grant stakeholders and public
- Auditable and traceable billing/utilization with project expenditures with automated workflows
- Standardized operational and statutory reporting with dashboards
- Extensive integration and data validation across funds execution
- Reduced time on funds reimbursement process and reconciliation
Products and Technology
- PeopleSoft FSCM
- HCM and EPM
- PeopleTools
- Microsoft Technologies
- JavaScript
- Cronjobs
- Oracle OAS
- FDMEE/ODI
- Cognos
- Hyperion
- Oracle Exadata