Accrual accounting: According to AICPA.org, “The accrual basis method of accounting recognizes revenue when the services are provided and expenses when they are incurred.”
Ancillary systems: Ancillary systems include third-party or bolt-on software or homegrown solutions used by academic, administrative, and auxiliary units to support their operations.
Benefits realization: Benefits realization focuses on specific, realistic, and time-bounded gains that result in positive outcomes for staff, while also aligning with the UW’s organizational objectives.
Chart of accounts: A chart of accounts (COA) is an index of all the financial accounts in the general ledger of a company.
Change strategy: The term change management essentially refers to shifting a person, a team, or an entire company from the as-is, or current state, to the to-be, or future state. A change management strategy includes the focused training and communication activities necessary to affect change across an organization.
Cloud-based system: Cloud-based is a term that refers to applications, services, or resources made available to users on demand via the internet. The benefits of cloud-based solutions to daily users and businesses include increased capacity, scalability, functionality, and reduced maintenance and cost for computer infrastructure or in-house staff.
ERP: Enterprise resource planning (ERP) is business process management software that allows an organization to use a system of integrated applications to manage the business and automate many back office functions related to technology, services, and human resources.
Procure-to-pay: Procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies.
P2P: The Procure-to-Pay (P2P) Automation Project is an initiative within ATP committed to revolutionizing the purchasing and accounts payable systems at the University of Wisconsin.
Project management: Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve defined deliverables and success criteria.
PPMO: The Project Portfolio Management Office (PPMO) is a unit within the Office of Strategic Consulting that provides a foundation for project management and project portfolio management across finance and administration.
Readiness assessment: A readiness assessment identifies the potential challenges that might arise when implementing new procedures, structures, and processes within a current organizational context.
SME: A subject-matter expert (SME) provides the knowledge and expertise in a specific subject for a project.
UDDS: UDDS (unit, division, department, and sub-department) is a seven-character code used to classify personnel, research, financial, or other activities or transactions.