The Finance Operations Center (FinOps) was established as part of the PEAK Initiative to provide a variety of standardized financial services and support to our academic and administrative units systemwide. FinOps provides centralized processing of financial requests including reconciling a PCard, paying for goods or services, and recording journal entries.
Services within FinOps focus on:
- General ledger and payroll accounting
- Accounts receivable and billing
- Purchasing
- Accounts payable
How will roles change?
A majority of the team members that joined FinOps previously supported campuses, departments, or units across the system. They bring with them a blend of experiences, localized knowledge, and an understanding of University practices and work culture. Roles within FinOps are focused which helps build specialization and efficiency, and supports compliance for the University system. The experiences and skill sets of those joining the team builds expertise about the needs of our partners to better support our collective mission of research, education, and outreach.
The FinOps team members have close relationships with policy and business process owners, have the support of their peers doing similar work, plus have backup to ensure services continue to be provided when a team member is out of the office.
As more and more of our departments begin using FinOps, we continue to create and hire for positions that not only support the University, but offer career opportunities for our employees.
How is the work changing?
Some finance tasks will shift away from our departments and units, and be fulfilled by the specialized central teams. Most of the work itself doesn’t change; how the work is requested and who completes it does.
FinOps uses an online system called TeamDynamix (TDX) to field, track, and resolve finance requests. Requesters from within a unit or department will use TDX to request financial services from FinOps. Using TDX helps provide consistency in communication between those requesting a service and those completing the request.
As some staff and work transition to central teams, there will be finance work remaining in each department or unit. Departments have the opportunity to realign how the remaining work is completed based on their collective goals and needs.
Finance Questions and Contacts
If you have specific questions about your college or department’s current finance operations, please use the Resource Responsibility Center contact list to connect directly with your area’s finance leadership.
More information about the Finance Operations Center is on their page within the University Budget and University Finance website.
Contact FinOps through [email protected].
Transition Teams
As each academic or administrative unit moves through PEAK implementation, representatives and leaders from each unit will form a Transition Team. Team members serve as a valuable resource for employees and supervisors within the unit as questions arise. When your area is actively engaged in the process, you will be able to find your representative on the list of transition team members from Finance, Human Resources (HR), Information Technology (IT), and Marketing and Communications (Marcom).
PEAK Office
Connect with use via email at [email protected].