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Finance and Business Systems

The Finance and Business Systems department is responsible for all finance systems that support the financial management of UOIT’s Finance department.

We have a number of different systems and tools to help serve your financial needs.

What we do

  • Provide finance systems administration and security.
  • Maintain overall project management of all major finance systems initiatives.
  • Train all users on Banner Finance and Fast Administrative Support Tools (FAST) modules.

FAST

The Millennium FAST Suite is a pre-built administrative software solution. FAST is secure, web-based and integrates with our ERP system Banner (by Ellucian).

We currently use three FAST modules:

  • Purchasing Card (PCard) for corporate card transactions
    • With FAST Purchasing Card, a monthly bank feed of purchasing-card charges can be uploaded. Cardholders can view, edit and split their charges using their chart of account information based on row-level security. Cards are set up with department level security and access, allowing multiple cards to be viewed by managers or authorized reconcilers.
  • WebReq for Purchase Requisitions
    • WebReq is a web‐based requisitioning tool in Fast/Millennium. The tool is intended for UOIT staff, faculty and managers who need to create and approve purchase requisitions. It enables employees to complete purchase requisitions online and submit them for approval to their supervisor, manager or budget holder as well as the Purchasing department electronically.
  • Finance Reporting for Financial Reporting
    • FAST Finance Reporting provides self-service financial reporting for all authorized budget holders to all accounts for that user. Reports include relevant, timely information for actuals, commitments and budgets, showing where money is being spent and how it compares to approved budget amounts. Users must request access to Banner Finance to access FAST Finance Reporting.
  • FAST Budget and Forecasting Module
    • The FAST Budget and Forecasting Module offers the university the ability to create numerous budget scenarios and forecasts for multi-fiscal years. It allows for detailed entry of dollars and other relevant information, and can drill down to the employee and position level. It integrates seamlessly with FAST Finance Reporting, allowing units to readily view and manage their budgets and actuals.



For help or questions, please email financesystems@uoit.ca.

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