Automated Cost Transfer (ACT) tool

Automated Cost Transfer (ACT) tool simplifies and tracks the processing of transfers of direct costs (labor and non-labor) to or from sponsored agreements. The tool addresses the unique needs and challenges of the Research Accounting Financial Management executives and business users in the Higher Education and Healthcare industries. In addition, it creates and maintains documentation standards and consistently applies policy.

ACT has an easy-to-use interface that allows direct data entry or upload using Excel. The data entry passes through validation modules and is routed through a pre-defined workflow that is programmable and can be mapped to an organization’s hierarchy. Flexible workflow configuration allows simplifying and automating complex business processes while maintaining consistency.

ACT fully integrates with ERP Financial and HCM applications such as SAP, Oracle, PeopleSoft, JDE, Lawson or Banner. All data exchange through external systems is seamless, automatic and validated through protocol.

Automated Cost Transfer tool

  • Browser-based and workflow-driven application.
  • Automates complex business processes while maintaining consistency.
  • Automation of cost transfers through user-defined workflow and approval process.
  • Tracks cost transfer changes.
  • Creates automated adjusting transactions with debits and credits.
  • Options to post labor and non-labor cost transfers either to Payroll or GL
  • Approval/revision/denial of cost transfers.
  • Cost transfer audit trails and logs.
  • Validation of chart fields at source.
  • Exports cost transfers to either GL or Payroll.
  • Uploads cost transfers from MS Excel.
  • Department-level security.
  • Cost transfer tracking through e-mails and Excel files is cumbersome and inadequate.
  • Audit log of corrections made to transfers outside of Financials does not exist.
  • Cost transfer approvals hard to track for want of an automated workflow process.
  • Browser-based application.
  • Java, Oracle Fusion Middleware.
  • Integrates with Oracle, PeopleSoft, JDE, Lawson.
  • Integrates with Payroll and Financial modules.
  • Data exchange with diverse sources.
  • Single sign-on implementation.
  • Easy-to-use navigation.
  • Maps to organization hierarchy. Consistency in processes lead to greater predictability in response levels.
  • Increases productivity, efficiency and eliminates manual paperwork and e-mail trail. Also, reduces related errors.
  • Ability to handle historical cost transfers.
  • Reduces manual effort and increases efficiency.
  • Enhances tracking and reporting with accuracy. Effective cost-tracking leads to improved customer service to research community.
  • Eliminates data redundancy and need for dual maintenance.
  • Improves management of business processes through standardization of working methods and control of transactions.
  • Protects sensitive information.
  • Seamless automated data exchange.