Cornell University Adopts UNSPSC with Kuali Financial System
Cornell University is now using the United Nations Standard Products and Services Code® (UNSPSC) to classify goods and services. This change comes with the implementation of the Kuali Financial System (KFS). The new system replaces traditional commodity codes, making classification simpler and more accurate.
What Is UNSPSC?
UNSPSC is a global system that organizes products and services into clear categories. It was created to improve commerce and make supply chains more efficient. The structure includes four levels: Segment, Family, Class, and Commodity. Each level adds detail, making it easier to find and group items correctly.
Why Use UNSPSC?
Cornell expects to gain several benefits from adopting UNSPSC:
- Consistency Across Systems: UNSPSC uses a universal structure. This ensures that departments classify data in the same way.
- Better Data Analysis: Standardized codes allow for easier data comparison. As a result, Cornell can make smarter decisions.
- Simpler Online Transactions: UNSPSC helps electronic systems “speak the same language,” which speeds up e-commerce processes.
How Kuali Financial System Supports the Change
KFS is an open-source financial system created for higher education. By using UNSPSC with KFS, Cornell combines a smart classification system with powerful financial tools.
Key Advantages of KFS
- Complete Financial Tools: KFS includes everything from general ledgers to purchasing tools.
- Custom Options: Because it’s open-source, Cornell can tailor KFS to fit specific needs.
- Strong Community Support: Many universities use KFS. This network shares ideas and solutions that improve the system.
How Cornell Is Making the Transition
To switch from old codes to UNSPSC, Cornell is taking a step-by-step approach:
- Mapping Old Codes to New Ones: Staff are linking old commodity codes to new UNSPSC codes. This keeps the data consistent.
- Training Staff: Employees are learning how to use the new system. Training covers both the classification process and KFS tools.
- Ongoing Improvements: Cornell is listening to user feedback. Based on that input, the university is adjusting the system to work even better.
In Summary
By using UNSPSC with the Kuali Financial System, Cornell is improving how it manages financial data. The switch supports accuracy, speeds up online transactions, and brings more useful insights from data. This move shows Cornell’s ongoing dedication to smart, modern financial practices.
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