Higher education is facing some new realities and the current climate is redefining the traditional role of finance and the budget office. High performing colleges and universities are recognizing the need to leverage modern technologies to increase collaboration in the budget formulation process and to optimize decision making on the use of financial resources. These new realities are felt across the organization, but perhaps most acutely as colleges and universities budget for their largest expense – employee compensation.
Modernize Your Budgeting Process
Given the continuous financial pressures facing higher education, the pitfalls of legacy university planning systems are coming light more than ever before. Institutions are being challenged to streamline their budgeting and forecasting processes in order to optimize organizational decision making.
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