Better management of financial activities -- The need for more consistent, timely, and uniform financial information at the statewide and central management level continues to increase. In addition, the standardization and prescribing of statewide policies and procedures has greatly enhanced the consistency of financial data. The central management of the Chart of Accounts, and other key data by the OSC provides greater access to consistent information. This greatly increased level of uniform information that meets the State's central managers' defined statewide uniform information requirements provides for more effective and faster response to current information requests and new requirements as they arise. This also enables greater fiscal accountability to the legislature and the taxpayers of the State.
More effective management of agency programs -- To deliver program services to the citizens of North Carolina effectively, managers at all levels must have accurate and timely resource information. Capabilities in the NCAS environment, such as on-line real-time funds control and improved information access tools, assist primary user managers in making better resource decisions and provide better control over the appropriation and allotment process.
More efficient procurement and inventory control capabilities -- The value of a purchasing function depends on its ability to purchase efficiently the goods and services needed by the State. The inventory control function is measured by its ability to acquire resources in time to meet the need, to effectively secure those assets while being stored, and to manage only the minimum stores necessary. Purchasing and inventory control effectiveness depends on the quality of information available to these functions and the use of that information by purchasing and inventory professionals. The NCAS needs to provides information that summarizes purchasing patterns statewide by vendors, commodity classes, and service classes that will improve the access to information and make the purchasing function more effective. It must also provides better inventory control through integration with the purchasing capabilities, min/max and location controls, and greatly improved information access.
Improved internal controls -- The need for effective control over financial activities and assets of the State is paramount. The NCAS provides for improved internal controls over the security access to the financial process, control of vendor payments, better data for federal cost recovery reporting, better payment scheduling to reduce late payment charges, and more effective control over fixed assets.
More efficient operation of systems -- Savings can occur in both central management functions and agencies by streamlining business transaction flows and reducing redundant data entry. This is accomplished by the integration of the NCAS modules, consistent HELP text and error messages, efficient interfacing to external applications, and a comprehensive security process. The centralized help desk supported by the OSC provides for user support in using the NCAS system. A centralized help desk reduces the need for redundant support structures at the agency level, and provides access to a centralized body of experience to all end users. The NCAS further provides more efficient and effective business operations through the accommodation of concurrent cash and selected accrual record keeping; more timely updates to the NCAS; reduced paper handling through improved system functionality that employs a more analytical versus clerical approach to accomplishing business flows; and a common files philosophy that improves timeliness of monthly and annual closing of budgetary and financial records.
Better cash management -- The NCAS assists the agencies in improving cash management through scheduling the payment of accounts payable and improving the management and revenue collections of accounts receivable. Agencies are able to pay vendors on a more timely basis, increasing the likelihood of qualifying for cash discounts. These functions are structured from a statewide perspective, which allows for more effective central oversight of these functions. The availability of debt offset and the coordination of the accounts payable and receivable activities will be part of the NCAS policies and procedures. Utilization of electronic commerce solutions within the NCAS will continue to enhance the State’s management of cash.
Reduced need for agency-based systems -- The NCAS provides core financial system accounting and financial reporting functions for the majority of the State agencies. Savings result from the reduced or eliminated need for customized agency-based systems with the redefined, fully implemented NCAS. Custom systems cost the State more, not only due to development costs, but also due to costs accrued in maintenance, required enhancements, and functional and technical staffing to support these unique system solutions. Savings can also be realized through the elimination of redundant, duplicative processing of the same information by multiple systems at various levels of State government.
Better access to information through improved procedures and technological tools -- Information that is collected must be available in a timely and efficient manner. The NCAS provides for more timely collection and updating of financial information. The access to information is further enhanced by adopting a single-view common database, which leads to more efficient and effective access to information. A reduction in printed paper reports is another result of the introduction of these information access tools. The Systems Information Guide (SIG) serves as the on-line repository for NCAS system information. The SIG provides end users with on-line access to the most current NCAS information, including policies, procedures, data elements, report definitions, training courses, and contacts for assistance. The SIG resides on the web which allows for immediate refreshment capability.
In addition to the general statewide benefits noted above, many State agencies have identified the following benefits and enhancements that have significantly improved their business measures of effectiveness.