Electronic Fund Transfer (EFT) Project
Traditionally, College payments to vendors has been done by cheque. After careful analysis, it was determined that Sheridan could save approximately $1.26 per transaction by replacing cheque payments with electronic fund transfers. By moving to EFTs, we also realize the following benefits:
- reduced risk of fraud
- streamlined operations
- improved delivery time of payment
- improved vendor satisfaction
- decreased vendor payment inquires posed to Accounts Payable
The first phase of this project was completed in July 2016, seeing approximately 20 trade supplier/vendors migrating from cheque payments to EFT. A vendor email notification process and an EFT authorization form was also established.
The second and final phase of the project will focus on delivering a complete supplier approval workflow process while incorporate auditing capabilities that will allow Finance to track supplier data changes. The project will also introduce new processes for managing and approving EFT payments and functionality to automate the upload of EFT payments to CIBC. These enhancements will permit Sheridan’s Finance Department to scale EFT payments to other vendors in a secure an efficient manner. This phase of the project is scheduled to be completed in January 2017.
Office 365 Project
A project is underway to bring Microsoft Office 365 to Sheridan students* and employees. Office 365 includes access to Office applications (e.g. Word, PowerPoint, Excel, Outlook) and productivity services that are available over the internet (cloud services).
Implementing Office 365 will provide tremendous benefits to Sheridan, including:
- advanced collaboration features
- document version control
- anywhere/any device access to documents
- unlimited cloud-based storage via OneDrive
- greater security
Currently, we are finalizing the project lead for this initiative. This person will be tasked with coordinating the implementation of Office 365 as well as leading the development and delivery of training and support materials. Our goal is to roll-out Office 365 by the end of March 2017.
* Sheridan students and alumni currently have access to Office 365 email and calendar services only.
More Information
Stay tuned to the Insider for further project updates. You can also take a look at all of the projects that are on the go or have been completed by logging into the IT Project Dashboard.
If you have questions about any project or want to discuss initiating you own project, feel free to contact us at pmo-info@sheridancollege.ca.
