What is “Cornerstone”?
Cornerstone is a multi-year strategic project to transform the administrative information systems and processes for Rutgers University. It lays the groundwork to modernize, unify, and simplify our finance, human resources and payroll, procurement, and expense management systems and processes.
This is a pivotal move toward creating a single identity and culture, standardizing practices, and improving collaboration across Rutgers University–New Brunswick, Rutgers Biomedical and Health Sciences, Rutgers University–Newark, and Rutgers University–Camden.
What does Cornerstone involve?
The major elements of Cornerstone’s first phase, which will become fully operational in October 2016, are:
- A redesigned chart of accounts and financial accounting environment to provide an integrated and comprehensive management and reporting infrastructure, aligned with the Responsibility Center Management budget model
- Unifying more than 10,000 employees under one Human Resources and Payroll umbrella with the rest of Rutgers for a more consistent employee experience
- Re-engineering how we procure goods and services, pay vendors, and reimburse expenses for employees to enable more timely and efficient processing of transactions, lower risks, and smarter spending