2014 - 1st Quarter

PaymentNet4

By Jennifer Alexander, Director of Procurement Operations

The University of Missouri will soon be upgrading to a new version of PaymentNet.  This software has been used for reconciliation of purchasing and fleet cards and travel card payments for many years.  PaymentNet is evolving and the system has been redesigned to better meet our customers’ needs.  Your card administration teams have been working closely with JP Morgan to ensure a successful migration to the new PaymentNet 4 system.  The new system will be available Monday, February 17, 2014, with the upgrade taking place the previous weekend.

New cards will not have to be issued as part of the upgrade.  All data from the current fiscal year will be moved to the new system.  All purchasing transaction data, regardless of date, will still be available through the MIS Web Apps.  Current PaymentNet User ID’s that have been utilized within the last 13 months will automatically be converted to PaymentNet 4.  New log-in information will be sent to all users closer to migration.

PaymentNet 4 Features include:

  • Cardholder Account Enhancement – Cardholders will be able to view their real-time account data within PaymentNet (current balance, available credit, reasons for declines).
  •  Hierarchy Flexibility – Approvers/Editors with a need to access multiple departments within the system will be able to do so with one ID and Password.
  •  More Frequent Feeds to the General Ledger – Cut off deadlines for reconciliation will not change.  But, in addition to the monthly feed, weekly feeds will run to pick up those transactions departments have flagged as being reconciled and ready.

In early January, documents outlining the differences between the current PaymentNet Legacy system and PaymentNet 4 will be sent to all system users.   Auditorium style sessions will also be available on each campus.  These sessions will be designed to highlight the changes and allow individuals to ask questions.  After go-live, labs will be open for those wishing to get additional hands-on guidance for reconciling.  As always, 7:30–5:00 each day of the week, the Procurement Hotline will be available to assist cardholders and system users.

Updates on the project will be posted on the Procurement web site at http://www.umsystem.edu/ums/fa/procurement/ .

 

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