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In autumn 2019, the University of Chicago began the process of transforming its 40-year-old mainframe-based financial system, and other related finance and operations systems, into a modern, cloud-based, software-as-a-service system in Oracle.

With the implementation of Oracle Cloud ERP (Enterprise Resource Planning) and Orbit Analytics for ad-hoc, financial, and analytical reporting, the University will have advanced capabilities to assist in planning, budgeting, predicting, and reporting financial results. UChicago will also gain real-time controls, the capacity to leverage automated workflows and transactions, and added support for data-driven decisions.

The process is unfolding in three phases:

  • Phase 1: February 2024: Deploy Oracle’s Planning and Budgeting Module

  • Phase 2: July 2024: Deploy Oracle Cloud ERP

  • Phase 3: August 2024: Launch Accounts Reconciliation and Financial Close Consolidation Processes