Implementation of the Alpha Financials project, an extensive modernization of UC Merced’s financial system, is moving forward. In 2019, the project teams began months of planning, requirements gathering, design sessions, technical development and system configuration sprints. The functional project team has held sessions with campus leadership to share an overview of the opportunities the new Common Chart of Accounts (CCoA) will provide to the campus.
In 2020, the CCoA team began and will continue to turn its focus to introduce and explain the anticipated benefits of the Common Chart of Accounts to campus departments.
The date when the Oracle Financial system will be operational has been moved to mid-December 2020. The timeline shift was based on ongoing analysis and leadership review of campus needs from both the Oracle system and the new CCoA.
Additional updates about Alpha Financials will be provided at key points throughout the project.
Beginning in 2017, UC Merced, in partnership with UCOP, evaluated options to replace the university’s existing financial system. After due diligence, a decision was made in September 2018 to replace it with an Oracle Software as a Service-based integrated financial system.
In April 2019, the Division of Finance and Administration kicked off the Alpha Financials project. The goal of Alpha Financials is to ensure UC Merced has the infrastructure in place to deliver high-value, reliable, and easy-to-access financial services that allow the campus to focus on our mission of teaching, research and public service.
To do this, Alpha Financials will cut ties to the legacy financial system hosted at UCLA and replace it with Oracle Cloud applications, as well as transform how we track spending, perform financial reporting, and improve auditability across the university to align with the restructured Common Chart of Accounts, which will improve financial management at UC Merced and across the UC system.