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IC Finance Cloud – What to Look Forward to Beginning in FY 2020-2021

Contributed by Luke Sweet on 06/19/20 

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Submitted on behalf of Beth Reynolds, Controller

 

Starting July 1, 2020, we are moving from Parnassus to IC Finance Cloud. But why are we doing this and what’s in it for you?

Our current technology – Parnassus (E-Business Suite) is based on software written 30 years ago. This comes with obvious limitations and inefficiencies. Moving to the cloud will allow us to utilize a single, unified platform that facilitates synergy with IC HR Cloud while also providing capabilities that far exceed our current technologies.

In short, we can expect:

  • Mobile Friendly – do your work from any device
  • More efficient travel expense management – submit receipts via phone pics
  • One place to go - Consolidated functionality of Parnassus, BudgetPak, IC Marketplace, EZPay, and travel / expense processing in a single application
  • Streamlined accounting
  • Enhanced predictability in budgeting
  • Transparency in procurement

 

For more information on our decision to move to IC Finance Cloud, please see the following article by Bill Guerrero and Hayley Harris:

Change from Parnassus to IC Finance Cloud

 

For more detailed information regarding changes to travel, credit cards, out-of-pocket expenses, procurement, and our GL account structure, please follow the links below.

Understanding Changes to the Chart of Accounts

Procurement (Replacing IC Marketplace)

Expenses (Travel, Credit Card, Out-of-Pocket Spending)

 

Questions may be submitted to the Office of Business and Finance using the following form:

Question Submissions – IC Finance Cloud

 

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