MyASQ Finance Progress Report - August 2018

myASQ Finance Progress Report
August 2018

Members of the myASQ Finance team met with the senior project managers of Billhighway on July 31, 2018 in Milwaukee, Wis. During the half-day workshop, the following topics were addressed:
  • What will the ASQ member experience look like?
  • How will funds flow in the new tool?
  • How can member units have improved vendor management software?
  • What will the approvals and controls look like?
  • What tools will be used for expense management, accounting and reporting?
  • What are the next steps?
The new myASQ Finance tool will offer member units greater flexibility in many regards, including on-site credit card swipe, check capture, and remote deposit functionality. Pre-paid credit cards will allow members to have immediate access to funds and avoid writing checks. It also means no waiting for expense reimbursements.

In the new tool, cash transactions will not be possible.  It is the least secure method of financial transactions and problematic to implement in an online environment. A process may be created to allow for cash payments if member units decide to keep accepting cash.

Reporting will be automated so this will save volunteer treasurers valuable time. In addition, reports needed to close out the fiscal year will be automated as well.

Going forward, the team will have bi-weekly conference calls with Billhighway staff to Implement the new financial management tool.
 
Posted by Dana Blacks on Aug 9, 2018 10:52 AM America/Chicago