Client
University of St Andrews
Industry
Higher Education
Primary Goal
Finance transformation
Technology
Oracle
MAKE FINANCE FUTURE-READY
For a university with more than 600 years of history, staying at the forefront of education and research means continually evolving. But with an ageing finance system approaching the end of its lifecycle, the University of St Andrews needed a modern platform that could better support its complex operations, strengthen security and improve access to data. This is the story of how KPMG and Oracle helped the university transform its finance function, creating a cloud-based platform that streamlined processes, enhanced reporting and laid the foundations for future growth.
19
Academic schools brought onto a single process
30+
Professional service units aligned
MAKE FINANCE FLOW
Replacing legacy systems with a smarter way of working
- Before
- During
- After
MAKE FINANCE FLOW
Moving finance to the cloud
Imagine you are running a university that has been around for over 600 years, with students and staff from all over the world, and a reputation for excellence in research and teaching. Now imagine you have to change your legacy finance system, which is outdated and inefficient. How do you do it without disrupting your operations, compromising your security, or losing your competitive edge?
That was the challenge faced by the University of St Andrews, a prestigious institution in Scotland that wanted to modernise its finance function and take advantage of the latest technology. To achieve this, they partnered with KPMG and Oracle, who helped them design and implement a cloud-based finance system that would transform their processes, data, and reporting capabilities.
MAKE FINANCE SMARTER
Embracing data analytics to enhance decision-making and reporting
The University of St Andrews had a legacy IT system that was nearing the end of its life cycle and posed a potential cybersecurity risk. With 19 schools, 30 professional service units, multiple project and funding sources the system was also unable to support the complex and diverse needs of the university. The university needed a new system that would enable them to streamline their operations, improve their financial management, and comply with regulatory requirements.
The university chose KPMG as their implementation partner because of their expertise in higher education and their proven methodology for finance transformation. KPMG used their Powered Enterprise approach, which leverages best practices and accelerators to deliver a faster and more effective change. KPMG also brought in experienced consultants who had done similar projects before and understood the challenges and opportunities of the sector.
The university selected Oracle Fusion as their new finance system because of its cloud-based, flexible, and scalable features. Oracle Fusion offered the university a single platform that could integrate with their existing systems and provide them with a project ledger functionality that they lacked before. It also gave the university access to real-time data and analytics, which would enhance their decision-making and reporting capabilities.
MAKE THE DIFFERENCE
Future proofing the finance function
After a successful transition, the university was able to achieve a faster and more accurate month-end process, which freed up time and resources for more strategic activities. They benefited from a standardised chart of accounts, which improved the consistency and quality of their data and reporting and can now future proof their technology and continuously improve their finance function moving forward.
The University of St Andrews, KPMG, and Oracle demonstrated how a cloud-based finance transformation can be delivered in a challenging and complex environment, with minimal disruption and maximum value. The project was a testament to the power of collaboration, innovation, and best practice in higher education.
How we're making the difference
The University of St Andrews' transformation was about more than replacing technology. It was an opportunity to modernise finance operations, standardise processes and give teams better access to the data they need to make informed decisions.
By combining the university's ambition with Oracle's cloud technology and KPMG's higher education and finance transformation expertise, we helped create a more connected, efficient and future-ready finance function. The result is a stronger foundation for innovation, improved financial management and a platform that can continue to evolve alongside the university's long-term goals.
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