Case Studies Higher Learning Uncovers Profitability at Student Unit Level

Edit This Case Study Record

	Higher Learning Uncovers Profitability at Student Unit Level

Higher Learning Uncovers Profitability at Student Unit Level

Technology Category	Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Education
Applicable Functions	Business Operation
Services	System Integration Training
Challenge	Navigating a system of competing interests: students, alumni, donors, regulators, etc. Accreditation board mandated closer ties between annual budget and strategic plan. Budget to actual reporting process was too manual and time-intensive. Read More
About Customer	Vanguard University is a private university with over 30 undergraduate programs across 15 departments. The university serves a diverse student body and is committed to providing high-quality education. With revenues of $43 million, the institution relies on robust financial management to ensure sustainability and growth. The existing software in use includes Ellucian, which supports various administrative functions. The university has 65 users involved in budgeting and forecasting processes, highlighting the need for efficient and accurate financial planning tools. Read More
Solution	The Vena solution was chosen for its full Excel interface, which quickly eliminated competing vendors from consideration. The seamless integration between ERP and other systems ensured data integrity, making it easier to create and personalize monthly, quarterly, and annual reports. The Excel interface fostered quicker adoption among department heads and other non-finance users, allowing for more granular, student-level profitability insights. This enabled more data-driven strategic decision-making. The flexible platform can address future needs, from profitability analysis to rolling forecasts, ensuring that the university can adapt to changing financial landscapes. Read More Log in to view content
Contents

Technology Category

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Education

Applicable Functions

Business Operation

Services

System Integration

Training

Challenge

Navigating a system of competing interests: students, alumni, donors, regulators, etc. Accreditation board mandated closer ties between annual budget and strategic plan. Budget to actual reporting process was too manual and time-intensive.

About Customer

Vanguard University is a private university with over 30 undergraduate programs across 15 departments. The university serves a diverse student body and is committed to providing high-quality education. With revenues of $43 million, the institution relies on robust financial management to ensure sustainability and growth. The existing software in use includes Ellucian, which supports various administrative functions. The university has 65 users involved in budgeting and forecasting processes, highlighting the need for efficient and accurate financial planning tools.

Solution

The Vena solution was chosen for its full Excel interface, which quickly eliminated competing vendors from consideration. The seamless integration between ERP and other systems ensured data integrity, making it easier to create and personalize monthly, quarterly, and annual reports. The Excel interface fostered quicker adoption among department heads and other non-finance users, allowing for more granular, student-level profitability insights. This enabled more data-driven strategic decision-making. The flexible platform can address future needs, from profitability analysis to rolling forecasts, ensuring that the university can adapt to changing financial landscapes.

Impact #1	Excel interface fostered quicker adoption among department heads and other non-finance users.
Impact #2	Granular, student-level profitability insights for more data-driven strategic decision-making.
Impact #3	Flexible platform can address future needs, from profitability analysis to rolling forecasts.

Impact #1

Excel interface fostered quicker adoption among department heads and other non-finance users.

Impact #2

Granular, student-level profitability insights for more data-driven strategic decision-making.

Impact #3

Flexible platform can address future needs, from profitability analysis to rolling forecasts.

Benefit #1	Reduced budgeting and reporting time.
Benefit #2	Decreased report errors.

Benefit #1

Reduced budgeting and reporting time.

Benefit #2

Decreased report errors.

Download PDF Version

Overview

Higher Learning Uncovers Profitability at Student Unit Level

Operational Impact

Quantitative Benefit