Like so many other organizations, colleges and universities are facing increasing demands from their student base and increased competition to meet their goals. Among their challenges:
- Departmental specific finance staff and process making it a challenge to develop a “one size fits all” model.
- Having disparate systems and data repositories for accounting, HR, bookstore, class scheduling, purchasing, reporting, budgeting and more.
- A culture that values collaboration and debate, which can draw out consensus and result in project timeline challenges.
The climate of global competition for top students and staff, reduced public funding, and more stringent compliance requirements, universities must be able to define long-term growth plans, analyze trends and scenarios, and plan for future excellence.
- Planning for future infrastructure
- Faculty hiring and retention
- Recruiting and retaining top students
- Meeting administrative staffing needs
- Remaining competitive
- Tracking government funding and regulations
- Managing central costs
- Salary and Position Control Blueprint
- Understand the total cost of individual instructors including all benefits and lump sum payments.
- Understand how individuals are funded, and when funding sources are going to change or run out.
- Do scenario planning for funding sources to gain insight into where funding will come from in the future or which funding streams need to be replaced and when.
- Understand how budgeted salaries are split among multiple payroll accounts.
- Plan for instructor demand based on course and curriculum requirements.
- Student Achievement Solution
- Student Retention
Looking for ways to align your data and strategy at your school? Contact us today to learn what’s possible.