The Treasury team is currently evaluating an exciting new automation project for our cash reconciliation processes. Over the past year, our team has reviewed and implemented new streamlined procedures to assist in our daily and monthly tasks. With the help of various members of UITS, Controllers and the Innovation teams, a dashboard within PeopleSoft was created to assist in performing our daily reconciliation process. This dashboard saves our team from time spent pulling, processing, and organizing manual data. It also allows for the cash reconciliation team to commit more time investigating any unreconciled items.
Together with Oracle, we are taking part in a weeklong deep dive into our cash reconciliation process. We will be working in tandem to assess what our true needs are and what an automation implementation will entail. This process will impact multiple groups within the President’s Office, as well as each campus.
The cash reconciliation project is a great example of how the President’s Office can work together to create more efficiencies and streamlined work. We will have more updates to come once our evaluation is complete!