Workday Finance and Supply Chain

Ohio State is implementing Workday for the university's finance and supply chain management. Beginning January 2021, the university will utilize this modern, cloud-based system to manage finance and supply chain information and processes. The efforts of the finance and supply chain workstreams are to improve financial and supply chain data and reporting through streamlined and consistent processes. Doing so will maximize efficiencies, reduce administrative burdens and enhance decision making.

Finance Vision Guiding Principles were developed to help determine the finance and supply chain business processes within the Enterprise Project’s scope, which include:

  • Accounts Receivable
  • Budget, Planning & Forecasting
  • Capital Investments
  • Financial Accounting
  • Debt Management
  • Supply Chain & Procurement
  • Project Management & Execution
  • Travel & Expense
  • Asset Management
  • Banking & Settlement
  • Grants Management
  • Endowment Accounting

All financial processes will be designed to fully leverage Workday and other enterprise technologies. The project team and university community will design process and technology solutions to: 

  • Create standard processes, common data definitions and integrated data for all financial functional areas to create more accurate data and consistent financial reporting
  • Automate manual processes to reduce transactional processing and increase strategic financial management
  • Create a robust project management and execution toolset to record and manage a full project lifecycle
  • Create consistent supply chain processes across the university and the health system
  • Streamline and integrate debt financial reporting across units and automate and standardize debt reports