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Quantum Financials to Replace eUMB Financials and RAVEN
May 22, 2017 | By Joe Dincau
With the May 17 signing of a contract between University of Maryland, Baltimore (UMB) and Oracle America, Inc., the campus has moved one step closer to its goal of replacing UMB’s financial and data reporting applications with a more modern, cloud-based system. When the new system is complete, eUMB Financials and RAVEN will be retired. The contract with Oracle America, Inc., covers software, cloud services and the implementation services that will complement UMB’s project team during the work to configure, test, and deliver the new system.
Moving to a cloud-based application gives UMB the ability to stay current with functionality, security, and technology. In addition, the new system will deliver improved data reporting and analytics capabilities. The move to a cloud-based financial system will also improve access to UMB’s financial tools since the application is designed for use on most mobile devices – including tablets – as well as on desktop and laptop computers.
About 200 people from across campus have already been engaged in preparing for this change including gathering requirements for the system, providing feedback on the vendor software demonstrations they attended, validating core business processes, providing input that has resulted in the strategy for data reporting and analytics, and contributing to the development of a change management approach by providing input both in person and through survey responses.