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Overview of Quantum Financials
The Quantum Financials Project is developing a replacement for UMB’s financial system (including reporting) known as eUMB Financials and RAVEN.
Goals and objectives for the project are to:
- Implement a modern, cloud-based finance solution.
- Increase the efficiency of UMB financial processes through automation and configurable workflow.
- Increase the access to and ability to use financial data to understand and to make business decisions.
- Reduce UMB stakeholder reliance on supplementary systems to support their reporting, budgeting, and financial forecasting needs.
- Reduce the effort and costs associated with maintaining the financial system’s physical infrastructure, security, and system maintenance.
- Reduce the effort, cost, and time to apply patches and upgrades that deliver new functionality.
- Adopt a flexible technology platform with a high degree of usability.
- Adopt a technology that provides users with the flexibility to access the system and accomplish work tasks via mobile platforms.