SUNFin: SU's new financial administration system
SUNFin is Stellenbosch University's (SU) new financial administration system that will be implemented in 2023.
The new system will use Oracle® Cloud Financials (OCF) solution to replace the current Natural Adabas-based financial system. SUNFin will modernise SU's finance function and provide a technology platform to support continuous innovation and future enhancement of this vital function. It will enable and support the University's decentralised responsibility centre management model.
Oracle® Cloud Financials is a comprehensive, integrated, and scalable financial management solution. It will streamline SU's financial processes, increase productivity and provide access to real-time financial data and multidimensional analytics and reporting to improve business decisions.
Why does SU need SUNFin?
SU's current financial system was developed in 1989 and has now reached the end of its lifecycle. It can no longer be adequately maintained and upgraded.
SUNFin will provide the tools to enable each faculty and division to manage their financial sustainability effectively.
In business today, data is king, and SU needs to unlock the efficiency gains and power offered by a modern financial system. Accurate, real-time data presented via intelligent, user-friendly analytics and dashboards should enable better-informed and effective institutional decisions.
Goodbye black screen, hello SUNFin
As with any new system, SUNFin brings many exciting changes that will benefit SU and its community of users. Here are some of the highlights of the new financial system:
- Thanks to an embedded collaboration tool, Oracle Social Networking, users can connect in real-time to resolve outstanding transactions and follow up on pending items to complete transactions faster.
- Integration of Excel spreadsheets with SUNFin for high-volume data entries and the ability to export reports and transactional tables to Excel for further analysis of large amounts of data.
- Robust reporting and analytics will deliver continuous insight directly to business managers and decision-makers. Cost Centre managers can view budgets, commitments, obligations, expenditures, and funds available balances and supporting transactions in a single view.
Oracle will host the SUNFin system at an offsite location. SU will access SUNFin via a secure communication protocol provided by Oracle.