Higher Education faces many challenges that are unique to the industry including:
- Universities commonly have separate finance staff and procedures for each department, making it difficult to develop a “one size fits all” model.
- Having separate systems for accounting, HR, bookstore, class scheduling, purchasing, reporting, budgeting and more pose analytics challenges.
- With an environment that values collaboration and debate, project timeline challenges can arise as decisions may not be timely or final.
eCapital Advisors has immense experience with industry specific solutions tailored to meeting these challenges and beyond. We help our customers unlock data captured in academic, operational and financial systems. Some of our Higher Education solutions include:
- Budgeting and Financial Planning for Higher Education Blueprint
- Tuition and Enrollment Planning Blueprint (HE)
In a 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