Oracle

What is Oracle?

Oracle is a cloud-based suite of enterprise software used to manage the University's daily business activities including accounting, budgeting, financial records and reporting, procurement, and project management. At the University of Chicago, Oracle replaced the University's 40-year-old mainframe Financial Accounting System to improve the accuracy, usability, ease, and efficiency of all financial operations throughout the University.

The University of Chicago community is live with both Oracle Planning and Oracle Enterprise Resource Planning, the first 2 phases of the Financial Systems Transformation Program rollout. Oracle Planning is used by budget managers and leaders to manage their annual budget planning and development process. Oracle Enterprise Resource Planning (ERP), which launched in July 2024, includes most of the new Oracle ERP system, and will used by thousands of employees across the University to manage research awards, grants, faculty funds, financial operations, procurement, reporting, and more. Oracle Account Reconciliation and Financial Close, the final phase of the FST Program, will be implemented later in fiscal year 2025 and will be used by budget and financial leaders.