1. The Final Frontier: Creating Effective Interfaces Between Acquisitions and Financial Systems Patricia Smith Colorado State University June 16, 2002 American Library Association Atlanta, Georgia http://lib.colostate.edu/lts/frontier/

2. The Final Frontier Where are we?Where are we? Where are weWhere are wegoing?

3. Current Status of Automated Financial Interfaces in U.S. Libraries ARL academic libraries surveyedARL academic libraries surveyed Public libraries in capitol cities of each state surveyedPublic libraries in capitol cities of each state surveyed

4. ARL 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 interface38% do not plan to implement an interface 3% other responses3% other responses

5. Public Libraries in Capitol Cities: 19 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 interface11 libraries do not plan to implement interface 6 libraries do not have 6 libraries do not have automated accounting automated accounting system in library system in library

6. Variety of Interfaces 7 Innovative libraries—3 interface with FRS; 2 with Oracle; 1 moving to Oracle; 1 with Banner; 1 with Peoplesoft7 Innovative libraries—3 interface with FRS; 2 with Oracle; 1 moving to Oracle; 1 with Banner; 1 with Peoplesoft 3 Sirsi libraries—2 interface with Peoplesoft; 1 with local system3 Sirsi libraries—2 interface with Peoplesoft; 1 with local system 3 Notis/Notis EpicTech libraries—2 interface with local system; 1 with CUFS and moving to Aleph library system3 Notis/Notis EpicTech libraries—2 interface with local system; 1 with CUFS and moving to Aleph library system 2 CARL libraries interface with FRS (one also interfaces with the state system)2 CARL libraries interface with FRS (one also interfaces with the state system)

7. Variety of Interfaces, Continued 2 Endeavor libraries—1 interfaces with CUFS; 1 with parent mainframe2 Endeavor libraries—1 interfaces with CUFS; 1 with parent mainframe 2 Aleph libraries—1 interfaces with Bitech; 1 with local system2 Aleph libraries—1 interfaces with Bitech; 1 with local system 1 Geac Advance library interfaces with Peoplesoft1 Geac Advance library interfaces with Peoplesoft

8. Typical Functions Performed in Library Accounting System Encumbering P.O.s *Encumbering P.O.s * Tracking expenditures at library fund levelTracking expenditures at library fund level Tracking expenditures at parent fund level (to a lesser extent than library fund level)Tracking expenditures at parent fund level (to a lesser extent than library fund level) Maintaining vendor name and addressMaintaining vendor name and address

9. Typical Functions Performed in Parent Accounting System Tracking expenditures at parent fund levelTracking expenditures at parent fund level Maintaining vendor name and addressMaintaining vendor name and address Writing checksWriting checks Storing check numbers for resolving payment problemsStoring check numbers for resolving payment problems

10. Time/Cost Savings Estimates vary and depend on 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”

11. How Long Does It Take To Develop An Interface? Most libraries used programmer from parent institution orMost libraries used programmer from parent institution or an in-house library programmer an in-house library programmer (a few used both) (a few used both) “Few months of conversation but only days to get it up and going.”“Few months of conversation but only days to get it up and going.”

12. Paperless Process? Book and serial vendors send electronic invoices to libraries Library outputs electronic voucher to institution Institution produces electronic check and sends to vendor via Electronic Fund Transfer (EFT)

13. NOT QUITE PAPERLESS!! Libraries still retain copy of paper invoices (though in many cases a copy is no longer sent to institutional accounting)Libraries still retain copy of paper invoices (though in many cases a copy is no longer sent to institutional accounting) Reconciliation of data between systems and review of output requires paperReconciliation of data between systems and review of output requires paper Few libraries use electronic fund transfer with vendorsFew libraries use electronic fund transfer with vendors

14. 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 with vendor record per ACH standardsVendor Bank Account # and Routing # must be stored with 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 system provides the fields or trigger needed to do EFTWork with your library system vendor to see that its system provides the fields or trigger needed to do EFT

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

16. E-Commerce = Increased Credit Card Use

17. Credit Card Payments Bypass library accounting systemBypass library accounting system Increase the need for staff manual intervention and reconciliationIncrease the need for staff manual intervention and reconciliation Increase the paper trails needed for auditIncrease the paper trails needed for audit

18. Amazon.com order placed via library credit card. Amazon sends confirming e-mail to library. Amazon sends charge to Mastercard. Sends book to library. Mastercard Bank pays Amazon.com Credit 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.

19. Credit 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 fund and approve payment. University FRS system 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 match Library level funds in Innovative.

20. Mapping a New E-Frontier Use corporate accounts from Amazon.com to avoid credit card paymentsUse corporate accounts from Amazon.com to avoid credit card payments Work with institution purchasing offices to request e-merchants to provide more detailed information for transactionsWork with institution purchasing offices to request e-merchants to provide more detailed information for transactions Lobby library system vendors to help simplify e-commerce, e.g., new linking?Lobby library system vendors to help simplify e-commerce, e.g., new linking? Coordinate efforts with other librariesCoordinate efforts with other libraries

21. Sunset or Sunrise?

22. Photo Credits All photos (except the rattlesnake) are courtesy of the James A. Michener Special Collections at the University of Northern Colorado. All photos (except the rattlesnake) are courtesy of the James A. Michener Special Collections at the University of Northern Colorado.