The Final Frontier: The Final Frontier: Creating Effective Interfaces Creating Effective Interfaces Between Acquisitions and Between Acquisitions and

Financial SystemsFinancial Systems

Patricia SmithPatricia SmithColorado State UniversityColorado State University

June 16, 2002June 16, 2002American Library AssociationAmerican Library Association

Atlanta, GeorgiaAtlanta, Georgiahttp://lib.colostate.edu/lts/frontier/http://lib.colostate.edu/lts/frontier/

The Final FrontierThe Final Frontier

• Where are we?Where are we?

• Where are we Where are we

going?going?

Current Status of Automated Current Status of Automated Financial Interfaces in U.S. Financial Interfaces in U.S.

LibrariesLibraries

• ARL academic libraries surveyed ARL academic libraries surveyed

• Public libraries in capitol cities of Public libraries in capitol cities of each state surveyedeach state surveyed

ARL Libraries: 56 RespondentsARL Libraries: 56 Respondents

• 36% have automated interface36% have automated interface

• 23% plan to implement an interface23% plan to implement an interface

• 38% do not plan to implement an 38% do not plan to implement an interfaceinterface

• 3% other responses3% other responses

Public Libraries in Capitol Cities: Public Libraries in Capitol Cities: 19 Respondents19 Respondents

• 1 library has interface (Denver Public)1 library has interface (Denver Public)• 2 libraries plan to implement interface2 libraries plan to implement interface• 11 libraries do not plan to implement 11 libraries do not plan to implement

interface interface • 6 libraries do not have 6 libraries do not have automated accounting automated accounting system in librarysystem in library

Variety of InterfacesVariety of Interfaces

• 7 Innovative libraries—3 interface with FRS; 7 Innovative libraries—3 interface with FRS; 2 with Oracle; 1 moving to Oracle; 1 with 2 with Oracle; 1 moving to Oracle; 1 with Banner; 1 with PeoplesoftBanner; 1 with Peoplesoft

• 3 Sirsi libraries—2 interface with Peoplesoft; 3 Sirsi libraries—2 interface with Peoplesoft; 1 with local system 1 with local system

• 3 Notis/Notis EpicTech libraries—2 interface 3 Notis/Notis EpicTech libraries—2 interface with local system; 1 with CUFS and moving with local system; 1 with CUFS and moving to Aleph library systemto Aleph library system

• 2 CARL libraries interface with FRS (one 2 CARL libraries interface with FRS (one also interfaces with the state system)also interfaces with the state system)

Variety of Interfaces, ContinuedVariety of Interfaces, Continued

• 2 Endeavor libraries—1 interfaces 2 Endeavor libraries—1 interfaces with CUFS; 1 with parent mainframewith CUFS; 1 with parent mainframe

• 2 Aleph libraries—1 interfaces with 2 Aleph libraries—1 interfaces with Bitech; 1 with local systemBitech; 1 with local system

• 1 Geac Advance library interfaces with 1 Geac Advance library interfaces with PeoplesoftPeoplesoft

Typical Functions Performed in Typical Functions Performed in Library Accounting SystemLibrary Accounting System

• Encumbering P.O.s *Encumbering P.O.s *• Tracking expenditures at library Tracking expenditures at library

fund levelfund level• Tracking expenditures at parent Tracking expenditures at parent

fund level (to a lesser extent than fund level (to a lesser extent than library fund level)library fund level)

• Maintaining vendor name and Maintaining vendor name and addressaddress

Typical Functions Performed in Typical Functions Performed in Parent Accounting SystemParent Accounting System

• Tracking expenditures at parent Tracking expenditures at parent fund levelfund level

• Maintaining vendor name and Maintaining vendor name and addressaddress

• Writing checksWriting checks

• Storing check numbers for Storing check numbers for resolving payment problemsresolving payment problems

Time/Cost SavingsTime/Cost Savings

Estimates vary and depend on Estimates vary and depend on number of invoices handled:number of invoices handled:

• ““4 hours a week” 4 hours a week” • “ “$25,000 annually”$25,000 annually”• ““Several hours a week”Several hours a week”• ““1 FTE”1 FTE”• ““15 hours a week”15 hours a week”

How Long Does It Take To Develop How Long Does It Take To Develop An Interface?An Interface?

• Most libraries used programmer from Most libraries used programmer from parent institution or parent institution or

an in-house library programmeran in-house library programmer

(a few used both)(a few used both)• ““Few months of conversation but Few months of conversation but

only days to get it up and going.” only days to get it up and going.”

Paperless Process?Paperless Process?

Book and serial vendors sendelectronic invoices to libraries

Library outputs electronic voucher to institution

Institution produces electronic check and sends tovendor via Electronic Fund Transfer (EFT)

NOT QUITE PAPERLESS!!NOT QUITE PAPERLESS!!

• Libraries still retain copy of paper Libraries still retain copy of paper invoices (though in many cases a invoices (though in many cases a copy is no longer sent to copy is no longer sent to institutional accounting)institutional accounting)

• Reconciliation of data between Reconciliation of data between systems and review of output systems and review of output requires paper requires paper

• Few libraries use electronic fund Few libraries use electronic fund transfer with vendorstransfer with vendors

Electronic Fund Transfer (EFT)Electronic Fund Transfer (EFT)• Requires setup with monograph or serial vendorRequires setup with monograph or serial vendor• Vendor Bank Account # and Routing # must be stored Vendor Bank Account # and Routing # must be stored

with vendor record per ACH standardswith vendor record per ACH standards• Saves cost of sending paper checkSaves cost of sending paper check• Work with your library system vendor to see that its Work with your library system vendor to see that its

system provides the fields or triggersystem provides the fields or trigger needed to do EFTneeded to do EFT

E-Commerce and Credit Cards:E-Commerce and Credit Cards:New Challenges?New Challenges?

E-Commerce = Increased E-Commerce = Increased Credit Card UseCredit Card Use

Uses of Credit Cards by Selected ARL Libraries

14 14

76

2 2

0

2

4

6

8

10

12

14

16

Credit Card PaymentsCredit Card Payments

• Bypass library accounting systemBypass library accounting system

• Increase the need for staff manual Increase the need for staff manual intervention and reconciliationintervention and reconciliation

• Increase the paper trails needed Increase the paper trails needed for auditfor audit

Amazon.com order placed via library credit card.

Amazon sends confirminge-mail to library.

Amazon sends charge toMastercard.

Sends book to library.

Mastercard Bank pays

Amazon.com

Credit Card Payment at CSUCredit Card Payment at CSU

Library creates P.O. in Innovative for fund accounting. Library receives book in Innovative.

Library keeps packing slips as paper receipt.

Credit Card Payment at CSUCredit Card Payment at CSU

Mastercard Bank sends charges electronically to

university ACARD System.charges default fund.

ACARD system produces report for approval by

library staff. Library staff print report. Library staff

update ACARD fundand approve payment.

University FRSsystem pays all

transactions once a month on one check.

Library staff reconcile report with paper trails. Staff manually enter ACARD screens

to update ACARD default funds to matchLibrary level funds in Innovative.

Mapping a New E-FrontierMapping a New E-Frontier

• Use corporate accounts from Use corporate accounts from Amazon.com to avoid credit card Amazon.com to avoid credit card paymentspayments

• Work with institution purchasing offices Work with institution purchasing offices to request e-merchants to provide more to request e-merchants to provide more detailed information for transactionsdetailed information for transactions

• Lobby library system vendors to help Lobby library system vendors to help simplify e-commerce, e.g., new linking? simplify e-commerce, e.g., new linking?

• Coordinate efforts with other librariesCoordinate efforts with other libraries

Sunset or Sunrise?Sunset or Sunrise?

Photo CreditsPhoto Credits

All photos (except All photos (except the rattlesnake) are the rattlesnake) are

courtesy of the courtesy of the James A. Michener James A. Michener

Special Collections at Special Collections at the University of the University of

Northern Colorado. Northern Colorado.