F$P Business Objectives
To achieve the Project vision of implementing a statewide ERP to be used by the CCSF City agencies and departments, the Project developed objectives that outline what benefits an ERP system can provide. F$P has revised the current business objectives to better reflect the project scope, link them to project benefits, and make them measurable so we can later determine if the objectives have been met. The following are the revised objectives of the Project:
- Replace the CCSF's aging legacy financial systems and eliminate fragmented and diverse reporting by implementing standardized financial management processes and systems across all departments and control agencies. Financial Management is defined as accounting, budgeting, cash management, asset accounting, vendor management, and procurement.
- Increase competition by promoting business opportunities through use of electronic bidding, online vendor interaction, and automated vendor functions.
- Maintain a central source for financial management data to reduce the time and expense of vendors, departments, and agencies collecting, maintaining, and reconciling redundant data.
- Increase investment returns through timely and accurate monitoring of cash balances, cash flow forecasting, and timing of receipts and disbursements.
- Improve controls and support better decision making by managers and the Legislature, by enhancing the quality, timeliness, consistency, and accessibility of financial management information through the use of powerful data access tools, standardized data, and financial management reports.
- Improve access and transparency of CCSF's financial management information allowing the implementation of increased auditing, compliance reporting, and fiscal accountability while sharing information between the public, Legislature, external stakeholders, state, federal, and local agencies.
- Automate manual processes by providing the ability to electronically receive and submit financial management documents and data between agencies, departments, banks, vendors, and other government entities.
- Provide online access to financial management information resulting in a reduction of payment and/or approval inquiries.
- Improve the state’s ability to preserve, access, and analyze historical financial management information to reduce workload required to research and prepare this information.
- Enable the state to more quickly implement, track, and report on changes to financial management processes and systems to accommodate new information such as statutory changes and performance information.
- Reduce the time, workload, and costs associated with capturing and projecting revenues, expenditures, and program needs for multiple years and scenarios; and for tracking, reporting, and responding to legislative actions.
- Track purchase volumes and costs by vendor and commodity/service code to increase strategic sourcing opportunities, reduce purchase prices, and capture total state spending data.
- Reduce procurement cycle time by automating purchasing authority limits and approval dependencies, and easing access to goods/services available from existing sources (e.g., leveraged procurement agreements).
- Streamline accounts receivable collections process and allow for offset capability which will provide the ability for increased cash collection.
- Streamline the payment process and allow for faster vendor payments, which will reduce late payment penalty fees paid by the state.
- Improve role-based security and workflow authorization by capturing near real-time data from the state's human resources system of record.
- Implement a stable and secure information technology infrastructure.