New financial system exceeds $8 billion in eight weeks
The State of Colorado’s new integrated financial system, the Colorado Operations Resource Engine (CORE), processed more than $8 billion in transactions in the first eight weeks after its July 1 launch. The system disbursed $2 billion in payments, which included critical Medicaid payments to service providers, fee refunds, county reimbursements for such expenses as food assistance and Temporary Assistance to Needy Families, and payments to vendors for services rendered to the State. Using CORE, the State also processed $3.3 billion in cash receipts and encumbered more than $3.1 billion in purchases in the first eight weeks of operations. By comparison, the State processed a total of $13.9 billion in payments and $27.5 billion in cash receipts in the prior fiscal year.
More than 2,500 State employees have accessed and are using the new system, which integrates budget and purchasing functions. The new system allows the State to replace multiple aging and redundant systems with a single source of reliable and transparent fiscal data for the majority of the State’s financial operations.
“Dedicated State employees willingly worked nights, weekends and holidays to ensure the transition to this new system was as smooth as possible,” said State Controller Bob Jaros. “While we still have work to do on some components of the system and employees are still adjusting to new business practices and the integrated nature of the system, we are extremely proud to have migrated a critical system of this size relatively seamlessly.”
New systems of this size and changes to employees’ work processes always take time to become routine and fully operational. From the outset, a fully-staffed help desk has been operational, and 93% of the tickets submitted have been addressed and closed. As the project team has investigated various “punch list” items, none points to the system’s not working as intended. Moreover, the State has made significant process improvements, completely re-engineering its business models and adopting uniform best business processes.
Minor initial difficulties with things like unclaimed property payments have been resolved, and the State is working to address other challenges as they arise. For example, the allocation of labor costs to grants has been identified as a key challenge the project team is working to address. Still, almost 190,000 documents have been successfully processed, indicating the system is working as planned.
“The State now has better data about each and every transaction we make than ever before,” said Jaros. “We’re excited about how this additional information combined with CORE’s robust reporting capabilities will create more transparency about the State’s finances and better enable us to make both strategic and real-time decisions.”
CORE is based on CGI’s built-for-government enterprise resource planning system, Advantage®, which was rebranded as CORE and slightly configured to meet Colorado’s unique needs. Advantage® has been successfully implemented in 22 states and by more than 300 government organizations.
CORE implementation is a joint effort between the project’s business sponsor the Colorado Department of Personnel & Administration (of which the Office of the State Controller is a division) and the Governor’s Office of Information Technology.
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For more information, contact:
Sabrina D’Agosta, Director of Policy & Communications
O: 303-866-6555 | C: 303-437-6671