Vani Prasad - Kuali Foundation applications and you - Kuali KFS


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Presented by Vani Prasad, Vice President IT Modernization and Transformation, HTC Global Services at the Kuali Days UK conference, 30 October 2013.

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Vani Prasad - Kuali Foundation applications and you - Kuali KFS

  1. 1. KUALI FINANCIAL SYSTEM (KFS) Kuali Foundation Applications & You! Vani Prasad
  2. 2. WHAT IS KUALI FINANCIAL SYSTEM (KFS) • The Kuali Financial System (KFS) is a community-source software application system developed by and for higher education institutions to serve their financial software needs • The KFS is a higher-education, community-source software project that is part of the larger Kuali Community. KFS is a core product developed around the Student, Research, Endowment and Financial sectors of the University environment • Follows the key elements of the Kuali mission: o Designed for specific needs (for higher education, by higher education) o Dramatically lower hard costs for administrative systems
  3. 3. WHAT IS KUALI FINANCIAL SYSTEM (KFS) • KFS was the original Kuali project starting in 2005 • KFS founding partners are Indiana University, The University of Arizona, the University of Hawaii, Michigan State University, San Joaquin Delta Community College, Cornell University, NACUBO and the rSmart Group • KFS is now a mature product that can be scaled for complex, multicampus, research-intensive institutions as well as smaller private, liberal arts, or community colleges • Currently implemented at well over 20 Universities, with many more in the works
  4. 4. WHAT IS KUALI FINANCIAL SYSTEM (KFS) • The major software modules that constitute the KFS are: o Chart of Accounts (COA) o Vendor o Purchasing and Accounts Payable (PURAP) o Pre-Disbursement Processor (PDP) o Capital Asset Management (CAM) o Accounts Receivable (AR) o Contracts and Grants (C&G) o Effort Certification o Labor Distribution o Endowment (KEM).
  5. 5. WHAT IS KUALI FINANCIAL SYSTEM (KFS) • Current Version is Release 5.0.2 (as of May 2013) • Many implementations are at Ver 4.x and will go thru upgrade path • KFS has matured from its Release 1.0 of Oct 2006. • KFS product releases include partner contributions (a key element!), software patches, new functions, expanded workflows and so on. • KFS has completed year-end audit runs with full compliance • KFS has interest outside North America too….such as Canada, New Zealand, South Africa, United Kingdom, etc.
  6. 6. KUALI OLE AND KFS • Kuali OLE (Open Library Environment) development started in 2010, so the learnings and experiences from KFS are applied into OLE o Mature Kuali Rice Infrastructure and Middleware o Kuali-Rice is like the ‘chassis’ of the ‘car’ o Better use of project communication and collaboration tools o Improved open-source software productivity and testing tools o Some features of KFS are part of OLE, such as ‘Fines’ o Software Development team is co-located o Adopt tighter Agile processes for improved collaboration, product scoping and project monitoring
  7. 7. KUALI OLE AND KFS • Closing remarks – things to consider in OLE or KFS implementations o Learn about the product (OLE or KFS) to understand the Fit, Form and Function of each Module (Feature) o Look at data sources and data outputs, including reporting – may require an external datamart o A lot of existing business processes may get simplified (dramatically!) o Decisions may have made about processes and transaction postings that need to be done in real-time vs batch mode o The products (OLE and KFS) come with good abilities to configure to suit unique needs and workflows of the Institution