The Institute - September 2021 - 54

the organization toward a sustainable
future by adopting sound, ethical, and
legal governance and financial management
policies, as well as ensuring IEEE
has adequate resources to advance its
mission and vision.
As a strong believer in and a steward
of this mission and vision, it is
both my great honor and great duty to
help guide the organization, supporting
the work of IEEE around the world,
and directing our policies, strategies,
and governance to advance IEEE's
mission and impact.
To that end, IEEE acted on the
Investing in IEEE's
Financial Future
volunteer has been to work to make
the institute the premier organization
for technical professionals to
engage with. My objectives focus on
implementing practical measures to
inspire individuals to call IEEE their
lifelong professional home. As IEEE
president and a longtime volunteer, I
am committed to strengthening IEEE
through improvements to its business
process framework and to continuing
my efforts to clarify financial reporting
and promote fiscal responsibility.
We, the IEEE Board of Directors, are
the fiduciaries responsible for steering
IEEE NextGen Financial System
NextGen financials cloud
This improved financial process saves time while
providing greater visibility in real time. This streamlined
approach for financial reporting makes day-to-day
activities easier for volunteers, with dashboards to review
your financials and with more details. It's the one source
that you can go to, rather than dealing with emails,
phone calls, and waiting on others.
NextGen banking
This replaces Concentration Banking/CBRS and provides
a streamlined approach with a one-stop resource for
your global banking needs. Its integrated self-service
options provide greater flexibility and ease of use.
request from our volunteers for an
improved financial and contract
system to simplify, streamline,
and save time that also allows for
improved business insights, workflow,
and decision-making. In collaboration
with our volunteer leaders and professional
staff, IEEE invested in the
tools and processes to create a better
volunteer experience. This effort is
the NextGen Financial System.
Improved processes
The development of this new
financial support system began in
2020. IEEE's current systems were
approaching the end of their operational
life. Additionally, IEEE's
financial operations had grown in
scale and complexity, and the current
systems could not provide the level of
timeliness, detail, and flexibility that
volunteers expected. The systems
NextGen expense reimbursement
This efficient expense-reporting process offers a
fast, easy, efficient, and automated reimbursement
experience for IEEE volunteers. It is the new name for
IEEE's volunteer expense reimbursement tool, Concur.
NextGen contracts
IEEE has moved from a manual contract-review
process to an automated process. Users can view
a dashboard that shows the status of the contract,
versus looking for an email or notes from a phone
conversation. Everything is at your fingertips, with
contract life-cycle visibility and the ability for realtime

The Institute - September 2021

Table of Contents for the Digital Edition of The Institute - September 2021

The Institute - September 2021 - 53
The Institute - September 2021 - 54
The Institute - September 2021 - 55
The Institute - September 2021 - 56
The Institute - September 2021 - 57
The Institute - September 2021 - 58
The Institute - September 2021 - 59
The Institute - September 2021 - 60
The Institute - September 2021 - 61
The Institute - September 2021 - 62
The Institute - September 2021 - 63
The Institute - September 2021 - 64
The Institute - September 2021 - 65
The Institute - September 2021 - 66
The Institute - September 2021 - 67
The Institute - September 2021 - 68