Emory University ranks among the top 20 research universities in the United States and has earned international recognition for its liberal arts colleges and graduate and professional schools. The Emory University School of Medicine spans more than 25 disciplines in basic and clinical science. Its 3,000 faculty members work in hospitals, clinics, classrooms, laboratories, and research centers, which greatly complicates compensation management for finance office staff.
For CFO Beth Boatwright’s finance team, annual faculty compensation for the School of Medicine is challenging because employees serve academic, research, and clinical missions, often working across disciplines with labor allocations spanning 45 separate budgeting areas. The team found these to be challenging, laborious processes and they were looking for a way to dramatically improve process flows. Beth’s team used Syntellis’ Axiom™ Labor Planning, Budgeting and Forecasting, and Reporting and Analytics software to streamline processes and ensure appropriate leaders remained engaged.
Recently, the faculty compensation and fiscal affairs teams joined the effort and began using Axiom for their annual faculty compensation process. Their results are impressive: improving efficiency by 10%, accuracy by 15%-20%, and reducing labor needs by 20%.
The finance team says increased visibility and transparency have ultimately led to increased accountability. Since adopting Axiom, the salary review process has seen a 20% labor savings, a 10% increase in team efficiency, and a 15%-20% increase in the accuracy of tracking information. Working with Syntellis and Axiom, Beth and team delivered the changes needed to significantly improve labor planning, reporting and analytics, and earned their 2020 Syntellis MVP Award for Higher Education. Congratulations!