In March 2014, Queen’s will be launching new financial reporting functionality that will make it faster and easier for the Queen’s community to get the financial information that they need. To implement this new functionality, Queen’s is working with Millennium, a company specializing in providing software and service solutions to the International Higher Education market. Millennium’s Fast Administrative Support Tool (FAST) software solution is web-based, and feedback to date is that the tool is intuitive and easy to use. The new tool will be launched without removing existing access to PeopleSoft Finance and research monthly statements via the Queen’s Portal. These will be phased out at a later date.
Currently, getting the financial reporting information to meet user needs is challenging. Recognizing this challenge, in late 2012 Queen’s undertook an RFP process that focused on obtaining a product that was well suited to a higher education environment. Ease of use was a major focus in the evaluation of possible products. Many user groups of the Queen’s community were represented during the evaluation process, including Departmental Administrators, Researchers, and Business Officers.
The new FAST financial reporting tool will help with all financial reporting needs and allow users to access current information. For the non-research community, reports will include a new Statement of Operations report, a Trust and Endowmentreport, and a Departmental Expendable report. For researchers, FAST will provide a new Project Summary report. For a complete list of reports and their description, CLICK HERE
The Queen’s community will be able to access the new financial reporting tool by logging into MyQueensU/SOLUS directly from www.queensu.ca. Authorized users will see a section called Financial Reporting Information which will provide a link to Fast Administrative Support Tool (FAST).
Early adopters are currently participating in focus group testing. If you would like to be an early adopter sign-up here. The new financial reporting tool will be launched by the end of March 2014 and comprehensive training sessions are being planned for the last two weeks of March, 2014. Sign up for training here.
To get a first look at the financial reporting tool, users are encouraged to preview the FAST product by visiting Millennium’s website and to register for the Introduction to FAST Financial Reporting online training sessions. This session will give end users a first look and feel of the new product. To register, please visit Millennium’s website at http://mcsl.com/sign-up-for-training/ and subscribe by using your queensu.ca email address.
Following the launch of the new tool, the initial support will be provided by the TRAQ team. The team can be reached by email email@example.com or by calling 613-533-6000 ext 78426 or online. To view the post production support schedule CLICK HERE.