The purpose of the paper is to identify the key success factors that determine the perception of university information system based on latent dimensions of DeLone and McLean IS Success Models. These dimensions were identified on the basis of empirical data gathered on a sample of 759 university students and staff members. Two-group structural equation sub-models are constructed in the analysis of the measurement equivalence and estimation of two types of models: IS Success Model and Updated IS Success Model with feedback loop. The results show that parameters of IS Success Model differ significantly across groups, indicating the system quality for students, and information quality for staff members, as key factors shaping the satisfaction and individual and organizational impact of university information system. It is also noticeable that it was not possible to estimate sub-models of Updated IS Success Model due to unacceptable values of the stability index.