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Financial Remediation and Deployment Project

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Financial Remediation and Deployment Project Overview

Prior to the start of this project, the City’s consulting partner CherryRoad Technologies, Inc. (CRT) completed an assessment of our PeopleSoft (PS) Financials application to determine if it is utilized to the full extent of its capability by the City and to provide recommendations for both short and long term remediation items and implementations. The assessment reviewed the current general ledger (GL) processes in order to provide recommendations for improvement. The remainder of the assessment focused on review of the current processes associated with Fixed Assets, Grants, Accounts Receivable, and Reporting. Additionally, CRT and City business users identified pain points associated with using a system that is not fully integrated.

 

Using the assessment recommendations as a guide, the City commenced the Financial/HR Remediation and Deployment Project in October 2012 and completed in June 30, 2013.

Project Goals

  • Remediate the General Ledger module
  • Implement the Accounts Receivable, Billing, Asset Management, Grant Management, Contract Administration, and Commitment Accounting modules
  • Integrate the Financial (FSCM) and Human Capital (HCM) product lines, which aids in decreasing the need for manual workarounds and dual data entry. Improving reconciliation of labor distribution to the general ledger
  • Implement workflow to simplify the journal approval process and voucher approval process, which will in turn speed up the approval process for all City departments. This will help the City to close the books monthly and provide accurate interim reports
  • Decommission the GEAC legacy accounting system, and eliminate other shadow systems
  • Enable the City’s ERP Program staff to serve as the first line of support for troubleshooting issues and offering other business assistance to our business owners
  • Facilitate streamline generation of the annual Comprehensive Annual Financial Report (CAFR) and Schedule of Federal Awards (SEFA)
  • Remediate several HR-related functions, including time & labor rules, timekeeping task groups automation, and PERA data submission.

Areas Impacted by Project

  • DFAS – Accounting Division
  • Department financial staff
  • Timekeepers and Central Payroll

Return on Investment (ROI)

This major project, the most large-scale undertaking of the City’s ERP strategic roadmap, fixed several issues with the PS financial application and implemented several key components. Decommissioning of the legacy financial application (GEAC) and associated hardware, combined by abandonment of several inefficient “shadow systems,” resulted in significant labor redeployment opportunities and other savings.

 

Further, improvement in the quality and timeliness of financial reporting will help management make data-driven decisions and bolster the City’s credit rating. Implementing the Grants functionality is helping to prevent reimbursement leakages. Deployment of Accounts Receivable, the last legacy application remaining on the mainframe hardware, allowed the City to retire the mainframe infrastructure. Estimated direct and labor redeployment cost savings form this project is estimated at $1.6 million annually and perpetually. Based on consulting fees of $3.9 million, the annualized ROI is over 40%.

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