TU modernizes business, financial systems with Stratus

By Rebecca Kirkman on July 7, 2022

Towson University is modernizing, standardizing and simplifying business processes by replacing PeopleSoft Financials and implementing a new, cloud-based business platform and budget-planning system. These new business applications will be called Stratus.

Launching July 11, Stratus will provide TU with a modern business and financial experience through improved agility, streamlined processing and expanded self-service capabilities. Its real-time access to financial data and robust data interpretation tools will enhance strategic decision making.

The launch marks a major milestone in TU’s long-term initiative to modernize systems and improve the digital experience. It will provide long-term financial and operational benefits for TU—from improved digital accessibility to faster approvals through automated workflows.

“The Stratus project advances our institutional goal of creating holistic shared systems that simplify and standardize academic and business functions while focusing on delivering superior service to our end-users,” says Ben Lowenthal, vice president of administration and finance.  “Our success as an institution is predicated on solid, data-based decision-making and responsive, reliable business operations. Stratus supports these critical functions, providing accurate and timely financial data while laying the foundation for future improvements to our Human Capital Management (HR) and Student Information Systems.”

Implementing Stratus is part of the university’s commitment to sustainable practices, responsible management and efficient use of resources, as outlined in the University's strategic plan.
 
“Stratus Financials empowers the university to make strategic and transparent budget decisions, improves business processes and supports TU’s environmentally responsible initiatives by reducing paper use,” adds Susan Miltenberger, associate vice president of the Office of Technology Services.

A collaborative, institution-wide effort

The launch culminates more than two years of cross-departmental planning, development, testing and training engaging subject matter experts from across campus.

More than 100 core team members, subject matter experts and system superusers validated the configuration of every business process and tested every integration between functional areas. More than 50 end users walked through each of the Stratus training materials to ensure directions matched system functionality.

Modern and mission-focused

Stratus eliminates duplicate systems and streamlines approval workflows. Processes like travel authorizations, employee reimbursements and ProCard reconciliations that were previously completed in disparate systems will now be consolidated under Stratus. The result is improved efficiency with fewer manual processes, more reliability through notifications and reminders, and simplicity with reduced add-ons and workarounds. The system’s standardized configuration also enables regular system updates to maintain and enhance functionality over time.

By streamlining business functions and enhancing strategic decision-making, the Stratus platform aims to give faculty and staff additional time and support for their ultimate goal: offering a world-class education.