Budget and Financials Initiative: Overview

The second major initiative under BEACON is the replacement and integration of the State's budgeting and financial infrastructure with SAP Enterprise Resource Planning software. This initiative will also integrate the budget and financial functions with the human resources and payroll functions already utilizing the SAP software.

The Budget and Financials Initiative is comprised of the following three phases:

• Phase One - Planning and Requirements
• Phase Two - Procurement
• Phase Three - Implementation

Budget and Financials Initiative Vision

A strategic business partnership supporting the budgeting and financials needs of state government, using leading business practices and current technology.

Budget and Financials Initiative Goal

Through a statewide collaborative effort, the goal of the Budget and Financials Initiative is to develop integrated budgeting and financial systems utilizing leading industry practices to provide a foundation for the effective management, increased efficiency, and the information needed to make timely and appropriate decisions.

Budget and Financials Initiative Guiding Principles

• Streamline business processes to drive efficiency
• Increase productivity and make the State of North Carolina more competitive
• Develop a single repository, with a common set of date elements, to successfully support the State's reporting and management activities
• Provide a flexible system able to respond to changing processing and reporting requirements
• Eliminate redundant systems and duplicative processing
• Provide real-time access to transaction activity