Financial Management Services (FMS) continuously strives to improve its products and services to support financial excellence at Stanford. This page, updated regularly, serves as a resource for university departments and stakeholders to stay up to date on larger projects that involve a change in policy, process, and/or a system and impact a broad or direct audience groups.
Many of these projects and enhancements are related to the FMS Client Satisfaction Survey, which is an ongoing conversation with the Stanford community to learn about their experiences with the financial tools, systems, and services that FMS provides. Once a project is completed, it will be moved to the bottom section for reference.
Recent updates are summarized below. For information about additional recent updates not covered on this page, refer to the ongoing news resources for specific areas:
- Business Expense Updates and Hot Topics
- Stanford Travel Updates and Hot Topics
- Purchasing and Contracts Updates and Hot Topics
| July |
|---|
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- The upgrade of Stanford’s Oracle Financials system was completed as part of the long-term program to leverage and extend current investments in enterprise systems and infrastructure.
- FMS reduces central review of purchases with new threshold: On March 24, FMS increased the central review threshold to $250,000 for non-catalog purchases. Per federal requirements, the micro-purchase threshold will remain at $50,000 for federally-funded non-catalog purchases.
- Stanford Easy Pay: A new, faster, and more efficient way to process payments to visitors for reimbursements and honoraria, eliminating the supplier setup step.
View February Release Notes email.
- Save time on ERS reimbursements and PCard verifications: Updates within the Expense Requests System (ERS) and the PCard Module, made in response to campus feedback, will increase user efficiency.
- Beneficiary process: Beneficiary information will only be required for expenses with specific tax implications such as relocation expenses, STAP expenses and gifts. For ease of use, the beneficiary field will be moved to the end of the transaction, and some related fields, such as the beneficiary attestation box, will be removed or updated.
- User experience: Pages and fields within ERS transaction processing and PCard verification will be updated to make them more intuitive.
- Stanford Travel Connect: Access travel discounts and benefits when booking directly: The Stanford Travel Connect portal enables travelers to link multiple personal airline loyalty accounts to the Stanford Travel Program. Once linked, travelers can book directly on the airline’s website or app and access Stanford-negotiated discounts and exclusive university benefits. At launch, Stanford Travel Connect will include three major airlines, with plans to add more in the future as they come online.
- Approve requisitions on the go with a new mobile app: After a successful pilot phase, the Stanford Mobile Approvals app is now available for purchase requisition approvals on supported devices.
- Claiming incoming funds just got easier: The Deposits and Receipts Manager (DRM) now offers multiple claiming and allocation options, including claims to multiple PFOs/PTAEs, partial claims, and unclaim (reverse) a completed claim. These enhancements save time, improve accuracy, and streamline financial processing and reporting.
- Removal of PO Suppression functionality: Suppression functionality has been removed from the Requisition and Purchase Orders Query tool. Departments should use PO management best practices to reduce risk risk and support accurate financial reporting.
- Updates to one-time registration system for new domestic suppliers: On Feb. 14, Oracle upgraded the system used by new domestic suppliers (Stanford Supplier and Payee Registry) with a redesigned user interface. There is no change to the change request system that new and existing domestic suppliers use to add or edit their profile details.
View November Release Notes email.
- ERS attachment improvements: Recent updates to the Expense Requests System (ERS) now allow preparers to more easily upload multiple attachments at once. Earlier this year, several related changes also rolled out: an expanded list of allowable characters to use in file names, and a specified range of file formats for attachments, to ensure that auditors can open a file. These changes reduce the number of steps needed to attach multiple files; prevent unreadable files from becoming stuck in the system, returned, or rejected; and provide guidance on allowable file formats and characters within Oracle.
- ERS rejection reasons consolidated: The Business Expense team consolidated and clarified the ERS transaction rejection reasons for local financial approvers. This change will provide clearer transaction rejection reasons for preparers, and allow approvers to more easily analyze, and take steps to decrease, transaction rejection rates.
- New contract status in SmartMart Contracts: To increase transparency and support more efficient reviews of contracts, a new status “External Review” now displays in SmartMart Contracts. The status appears because a supplier requested changes to Stanford’s standard contract language that must be reviewed and approved by the relevant policy stakeholder. This status supports contract requestors in tracking the review and approval steps in the workflow.
- Ability to add unique justifications to bulk fund transfers: Those who have bulk fund transfer authority and submit requests to Fund Accounting by uploading a template in iJournals can now add unique justifications to the individual line level (when needed). This enhancement provides more accurate transaction data for iJournals approvers and financial report users.
- WalkMe expansion to support all users of Oracle Financials: After a successful pilot, FMS expanded access to a new learning solution (WalkMe) that provides helpful tips and guidance to users as they navigate the Oracle Financials systems.
View July Release Notes email.
Enhancements to increase procurement efficiency
FMS will continue to release a series of enhancements that streamline purchasing activities while preserving effective risk mitigation. In July, the improvements focus on:
- Updating the Supplier/Payee Request form to support independent contractors (ICs) and non-PO contract setups
- Reducing the number of invoices requiring department approval
- Including frequently needed invoices and payment details in the Requisition and Purchase Orders Query tool
- Implementing automatic line item cancelation for Amazon for Business POs
View the May Release Notes email.
| Timeframe | Project name and description | Applicable audience |
|---|---|---|
| May 6, 2024 | Enhancements to increase procurement efficiency
| Purchasers, transaction preparers, and approvers |
| May 18, 2024 | Labor Distribution Adjustments (LDA) system-related enhancements
| Labor schedulers and labor distribution adjusters |
| May 18, 2024 | PTA Manager system - Enhanced close request notifications FMS will enhance PTA Manager with additional details about invoices or transactions that prevent a PTA close request from being processed. Error information will be available both within the system and from email notifications to help departments proactively resolve these issues. Learn about the PTA Manager system. | Users of PTA Manager |
February 2024 Projects and Enhancements (View the February Release Notes email)
| Timeframe | Project name and description | Impacted audience and description |
|---|---|---|
|
Feb. 2, 2024 |
Card suspension warning notifications begin for force cleared transactions |
Individual cardholders of PCard and/or TCard |
| Feb. 5, 2024 |
Updated iJournals access model and required training |
iJournals system users |
| Feb. 26, 2024 | New self-service functionality to change PTAs and cancel purchase orders Procurement Services is continuously examining opportunities to create self-service solutions that allow departments to initiate tasks directly in a secure and compliant manner. There will be new functionality added to the Requisition and Purchase Orders Query tool that will support changing PTAs and canceling eligible POs. Learn more: New self service solutions to change PTAs and cancel purchase orders |
Employees who manage purchase orders |
| Feb. 26, 2024 | Additional improvements to AP invoice holds Accounts Payable (AP) is making continued improvements to the invoice hold resolution process to improve clarity and reduce administrative burden. These enhancements include adjusting the frequency and recipients of invoice hold notifications, streamlining the hold description in the Requisition and Purchase Orders query tool, and adding the purchase requisition/order links to invoice hold notifications. Learn more: Continuous Improvements to the Invoice Hold Resolution Process |
Employees who manage invoices |
| Feb. 26, 2024 | New combined system to correct mobile deposits and claim unidentified receipts The new Deposits and Receipts Manager application combines the Unidentified Receipts & Branch Deposits website and the Stanford Mobile Deposits Correction Tool under one site accessible from the Oracle Financials home menu. Depositors can correct JPM Access mobile check deposits, claim cash or check deposits made at a branch, and claim incoming ACH and wire transfers all in one place. In addition, employees will now be able to claim receipts to 5-series expenditure type codes directly within the Deposits and Receipts Manager tool. The new combined system will require the granting of an authority privilege and the completion of annual financial training. Learn more: New Deposits and Receipts Manager System |
Employees who deposit through JPM mobile and/or who claim deposits from branch or wire/ACH |
| Feb. 26, 2024 | Updated ERS rejection and return reasons used by Business Expense team The Business Expense team is consolidating, updating and standardizing the rejection and return reasons used by auditors for all Expense Request transactions in ERS. This change makes the reasons more clear and helps ensure that preparers and approvers understand what steps to take to update rejected and returned transactions. Learn more: Updated ERS Rejection and Return Reasons Roll Out Feb. 26 |
Expense Report and Non-PO Payment preparers and approvers |
| Feb. 26, 2024 | Streamlined invoice upload functionality for rush, wire, or will call requests Procurement Services is streamlining the invoice upload functionality to request rush, wire, or will call payments by adding drop down menus to support selecting the correct non-sponsored project, task, and award, which will only display when the option to add Rush, Wire, or Will Call payment methods are selected. Learn more: Streamlined invoice upload functionality for rush, wire, or will call requests |
Employees who manage invoices |
| Timeframe | Project name and description | Impacted audience and description |
|---|---|---|
| 2024-04-01 April | Merchant Services Transformation Project Through new technologies and security features, MS embarked on a multi-year initiative with three major phases. Phase one focused on reviewing the program for automation and streamlining. Phase 2 included an evaluation of Stanford’s payment ecosystem resulting in a series of strategic recommendations, cost/benefit analysis and proposed timelines for changes. Phase three consisted of three work streams to rebrand and reorganize the MS program, assess the payment gateway options, and transition ecommerce payment infrastructure to Independent Software Vendors. This included the 2024 launch of CardinalPay to support back end accounting and reporting activities and the front-end payment collection function to allow customers to interface with merchant payment pages to pay for Stanford products and services. Learn more: Merchant Services Transformation Project | Merchant departments that accept payments for Stanford products and services |
| 2023-11-06 Nov | Streamlined requisition supplier selection Based on feedback, and as part of efforts to streamline the iProcurement purchasing experience, FMS made improvements to how supplier sites are displayed in the Non-Catalog Requests system in iProcurement. Now, a single PO Delivery Email displays instead of potentially multiple suppliers and/or representatives, which can change or vary. Learn more: Streamlined requisition supplier selection | Preparers of purchase requisitions |
| 2023-11-02 Nov. 2, 2023 | Updated Single/Sole Source Justification (SSJ) As part of ongoing efforts to support a competitive supplier selection process, Stanford Financial Management Services (FMS) updated the Single/Sole Source Justification (SSJ) form in June. Continued improvements were made to the form in November. | Preparers of purchase requisitions |
| 2023-07-31 Jul. 31, 2023 | Streamlined Will Call Process Effective July 31, 2023, a streamlined process and tools will make it easier to receive Will Call check payments for purchase order invoices and Expense Requests transactions. Learn more: Streamlined Delivery and Pick Up Options for Will Call Payments | Invoice payment and expense reimbursement preparers |
| 2023-07-14 Jul. 14, 2023 | PCard Module Enhancements In an ongoing effort to improve and streamline the Stanford Purchasing Card (PCard) experience, several enhancements to the Purchasing Card module within Oracle Financials will launch on July 17. Learn more: PCard Module Enhancements and Suspension Process Changes | PCard verifiers and approvers |
2023-06-30 Jun. 30, 2023 | Organization Code Hierarchy Tool University Budget Office (UBO), Stanford Financial Management Services, and University (UIT) have partnered to develop a new robust organizational hierarchy management tool that can more effectively and efficiently support a broader set of the university’s needs. Learn more: Organization Code Hierarchy Tool Project page | Budget Officers and users of the organizational code hierarchy tool |
2022-11 to 2023-05 Nov. 2022 - May 2023 | Cash and Check Deposit Enhancements Through this multi-phase project, the CASHnet system was retired and new methods for recording cash and check deposits were implemented. Learn more: Cash and Check Deposit Enhancements | CASHNet users Department depositors and any others involved in the cash and check deposit process. |
| 2023-03-20 Mar. 20, 2023 | New Travel Booking Channel: Key Travel After a successful pilot with a few departments, we are excited to launch Key Travel as a great option for travelers and travel arrangers. Key Travel is the world’s largest travel management company specializing in the humanitarian and academic sectors. Learn more: New Travel Booking Channel, Key Travel, to Replace FCM | Travelers and travel arrangers |
| 2023-02-20 | Change to iProcurement Access Effective February 20, 2023, department authority grantors will begin to grant a new iProcurement authority privilege for new staff to gain access to the iProcurement systems. The privilege requires the completion of a new course, FIN-0420 Preferred Purchasing Methods, to be activated. Existing staff will also need to complete the course within 90 days to maintain access. Learn more: Change to iProcurement Access: New Course Supports Preferred Purchasing at Stanford | iProcurement system users |
2022-10-01 to 2023-01-31 Oct. 1, 2022 to Jan. 31, 2023 | Update to Approver Training Requirement (FIN-PROG-0103) All current requisition, expense journal, and labor distribution approvers must complete FIN-PROG-0103: Approving Financial Transaction by Jan. 31, 2023 to maintain corresponding approval authorities. Learn more: Maintain Approval Authority: Take the Approving Financial Transactions Course | Financial Transaction Approvers Approvers (specifically requisition, expense journal and labor distribution approvers) |
2023-01-30 (January 30, 2023) | Enhanced Visibility Into Supplier Setup Status A top theme in the 2021 Client Satisfaction Survey was a desire for increased transparency into the setup process so that appropriate action could be taken to expedite the setup. As a result, new and updated status labels are now available in the Supplier Query and Request tool for pending supplier or visitor payee requests. Learn more: Supplier, Independent Contractor, or Visitor Request Statuses | Requestors of supplier setup |
2023-01-23 (January 23, 2023)
| PTA Manager Enhancement PTA Manager will be enhanced to close non-sponsored PTA segments. The enhancements would include the ability for users to select individual or multiple PTA segments to close and add an FYI email notification. The system will run data checks to validate the PTA is eligible for closure, process the request, and send email notifications to confirm the status of the close request. Learn more: PTA Manager Enhancement: Closing Non-Sponsored PTAs | PTA Manager users Users of PTA Manager will be able to initiate request closures of non-sponsored PTA segments. |
2023-01-17 (January 17, 2023) | Lower Limit for Making PTA Changes Outside of PO Change Order Process In alignment with improved related financial controls within transaction approval, the limit for changing a PTA on a PO without going through the change order process has been reduced from $2,500 to $1,000. Learn more: Purchasing and Contracts Updates and Hot Topics | Purchase order preparers and approvers |
2022-12-19 (December 19, 2022) | New Statement of Work (SOW) Contract Type Available in SmartMart Contracts As a continuation of improvements to the contracts process, this new SOW contract type is available for use when a Master Service Agreement (MSA) is already signed between Stanford and the supplier, and a preparer needs to obtain a signature on a Statement of Work document (hereafter SOW document). Learn more: Purchasing and Contracts Updates and Hot Topics | Contract preparers |
2022-07-18 (July 18, 2022) | eReceipts App Launch This optional app allows Stanford travelers or Purchasing Card (PCard) cardholders to take and upload pictures of business and travel expense receipts with a mobile device, tag them with an expense type, add comments if needed, and share them directly with their preparers and verifiers. Learn more: Learn More About eReceipts with Live Events and Updated Resources | University travelers and expense request preparers and verifiers |
2022-05-09 (May 9, 2022) | Annual Certification Required: Financial Stewardship Expectations Course All existing faculty, staff or students accessing financial systems need to complete the course by May 9, 2022 to maintain access. Learn more: Annual Certification Required: Take the Financial Stewardship Expectations Course | Faculty, staff or students accessing financial systems |
2022-03-15 (March 15, 2022) | SmartMart Contracts Launch The Contracts Process will now begin in SmartMart Contracts, rather than iProcurement Non-Catalog, for all procurement transactions that require Stanford signature (including zero dollar agreements). Learn more: SmartMart Contracts - A New Way to Manage Procurement Contracts | Contract preparers |
2022-10-03 (October 3, 2022) | Improvements to Invoice Hold Notifications FMS will be updating notifications about the seven most common Accounts Payable (AP) invoice holds to clarify the hold’s purpose and the actions required to release the hold. Learn more: Purchasing and Contracts Updates and Hot Topics | Staff who process invoices |