As you’re reading this, private and public education professionals across the nation are wrestling with one of the most challenging moments of their professional lives. Instead of enjoying the final leg of their summer vacation, difficult decisions are being made about how to restart education in a world where a pandemic has gripped nearly every aspect of the American way. From kindergarten to doctoral programs, nearly every education department in the nation is navigating these waters differently, trying to accommodate the unique needs of their students and their employees. For some educators, this is simply a necessary precaution and a way to improve their whole organization going forward. For others, it is an extremely trying predicament, one that is testing the patience (or sanity) of both teachers and students, all while putting their organization’s financial stability under extreme pressure.
For universities, colleges, and state finance and administrative teams, this is a wholly new situation, one that requires not just financial leadership but a reimagining of what their entire education offering looks like. For example, offering classes online brings additional requirements for new testing software, student administration software, and video conferencing, all while the classroom, building, and walkways go unused. Personnel changes, both planned and unplanned, take on different financial implications in an online workforce. Finally, tuition considerations, such as financial aid, student loans, and grants, may be under increased pressure due to changing financial situations for parents and students alike, leading to an income flow that could change in a matter of weeks. Teams are not only having to be more agile to pivot around the new externalities that COVID has brought to light, but also provide accurate results that allow leadership to steer the whole ship in the right direction.
Fortunately, our expertise with Oracle Cloud EPBCS has allowed us to build a powerful solution that can help higher education finance and administrative teams gain vision into their future decision making and how it will impact their entire organization, and do so fast. With these planners and teams in mind, our Higher Education Accelerator focuses on charting these difficult waters. The integrated Oracle EPBCS Financials, Workforce, and Capitals solution is uniquely useful for higher education teams and can drill through to source systems to utilize current and historical data sets. It comes packed with all the much-lauded benefits of our Accelerators program, all wrapped up in the custom tailoring that higher education organizations require. Our rapid implementation time leverages our established proprietary custom calculations, processes, and pre-configured dimensional structures, bringing the power and flexibility of EPBCS to your team in record time. These integrated features provide the framework that allows planners to reap immediate results by creating budgets from multiple sources, creating specific budgets from specific funds, and building out multiple approaches for expense planning. Changes in business processes can be charted out quickly through the powerful FP&A tools available.
By bringing data into the Oracle EPBCS Cloud ecosystem, immediate benefits can be accrued by the enhanced performance gains and increased security that’s all an essential part of the Oracle platform. Multiple budgets and expenses can be consolidated quickly for near-instantaneous reporting. Finally, a lack of reliance on 3rd party software (and increased usage of the Oracle platform) will reduce costs across the whole organization, aligning multiple teams into one platform. The complexities that are common with aligning multiple teams across multiple platforms get reduced almost overnight, and
As you get ready to plan out the 2021 and 2022 school years, our Higher Education Accelerator can provide you and your team with the agility and power to chart the smoothest path forward. For a demo, please reach out to us here or email us at firstname.lastname@example.org.