Mailing the story:

Financial and ERP applications are arguably the last bastion of proprietary software giants, but the Kuali Foundation wants to eliminate those remaining barriers to open source enterprise systems, at least in the educational realm. Kuali is a nonprofit collection of colleges, universities, commercial companies, and consultants who hope to "bring the proven functionality of legacy applications to the ease and universality of online services." Kuali's first project, Kuali Financial Systems, is already working on its 3.0 release, scheduled for the end of this year.