Dear Syntellis!

How do you best manage frequent scenario modeling? We need to nimbly model scenarios as the enrollment picture fluctuates daily.

— Spooked by Scenario Modeling


Dear Spooked,

If you’re using Excel, I’d fear scenario modeling, too. But if you use an integrated software tool such as Axiom™ Long-Range Planning (LRP), you’ll be surprised at how easy it is to build drivers, apply them to scenarios, compare the scenarios, and share the results with stakeholders.

Colleges and universities need scenario modeling now more than ever to keep pace with — and make sense of — fast-changing drivers that can flip a financial plan in a heartbeat.

A tool with dynamic scenario modeling makes changing initiatives and driver sets as easy as toggling a few switches; “what-if” analysis features show how revenues and expenses will adjust based on different scenarios. Because higher education Finance staff have to do more with less these days, the ability to quickly change assumptions and see impacts is critical.

Mid- and long-range plans should be stress-tested and aligned to the institution’s strategic plan. Finally, you want dashboards that show operational, financial, and benchmark data to bring transparency to decision-making.

To see this kind of scenario modeling in action, read about how The University of North Texas (UNT) System uses Syntellis’ Axiom LRP to evaluate potential new initiatives, run scenarios that show a range of positive and negative impacts, consolidate financial statements across each campus, and integrate financial plans to incorporate financial statements, the budget, and strategic planning.

That was a great question! Best of luck with scenario modeling.


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