Leading Colleges and Universities Adopt Syntellis’ Axiom Higher Education Suite to Guide Decision Making and Aid Financial Recovery
Award-winning Axiom solutions empower colleges and universities to make data-driven decisions for automation, budgeting and financial planning
CHICAGO – August 6, 2020 – Syntellis Performance Solutions, a leading provider of enterprise performance management software, data and analytics solutions for healthcare, higher education and financial institutions, today announced an additional nine colleges and universities that have, among others, adopted the Axiom Higher Education Suite as their enterprise performance management software of choice. The solution was selected by all types of institutions: public and private, large and small, 2-year and 4-year colleges and universities.
Boise State University, Confederation College, Cornell University Tech, University at Buffalo, and the University of Colorado Colorado Springs are among those implementing Axiom’s budgeting and financial planning solutions during this time when focus on financial management and improvement is at a record high and institutions remain uncertain about how they will operate next semester. The Axiom Higher Education Suite provides a competitive advantage through up-to-date, detailed forecasting, more accurate tuition planning, and dynamic scenario modeling on a single integrated, cloud-based software platform. Together, the solutions empower finance professionals to analyze results, model the future, and optimize organizational decision-making.
“With the impact of COVID-19 and other economic factors, modern finance tools that allow for greater insights into revenue streams and expenses are crucial to making data-driven decisions,” said Kermit S. Randa, chief executive officer of Syntellis Performance Solutions. “Higher education institutions often struggle to compile data from various schools and departments to form a complete financial picture, which makes accurate budgeting, scenario modeling, tuition planning and long-range planning especially difficult at a time when these processes are crucial. We’re excited to partner with institutions to help solve challenges now and empower improved financial performance for years to come.”
The Axiom Higher Education Suite replaces time-consuming and error-prone manual data entry with automation that improves operational efficiency and accuracy. Its reporting capabilities provide transparency into financial data and enable institutions of all sizes to identify variances and outliers for remediation. Colleges and universities also benefit from elimination of data siloes and having a single source of truth for financial data across the institution.
Further, the Long-Range Planning solution enables institutions to mix and match assumptions and initiatives to create multiple scenarios and compare courses of action. This empowers institutions to make quick, real-time decisions based on the projected outcomes of multiple scenarios.
Tapping into Trends
For many institutions, adopting integrated financial planning solutions will expedite lengthy budget cycles and support much-needed operational efficiency. In the Higher Education Financial Trends report from Syntellis, 43% of survey respondents said their budget cycles last more than six months, up significantly from 34% in the 2019 report. Most (76%) also believe that higher education technology lags other industries, while just 16% said it was on par with other sectors.
“The Axiom Higher Education Suite is designed to empower colleges and universities to become more agile in the face of challenges like COVID-19, which is creating the need to regularly adjust to fluctuating enrollment volumes and other factors,” said Randa. “Higher Education institutions have taken positive steps in this changing environment, but there is still a ways to go. We are pleased to see them embracing powerful tools and technology that can help simplify enterprise performance management, and will continue to innovate and enhance our solutions to drive higher education success.”
About Syntellis Performance Solutions
Syntellis Performance Solutions, previously Kaufman Hall Software, provides innovative enterprise performance management software, data and analytics solutions for higher education institutions. Our powerful budgeting, financial planning, and analytics solutions help colleges and universities elevate financial performance and transform vision into reality. With leading institutions using our flexible, powerful, intuitive Axiom software to manage nearly $60 billion in revenue and $100 billion in endowments combined with top satisfaction rankings from BPM partners for the past 8 years, our proven industry expertise helps college and universities acquire insights, accelerate decisions and advance their business plans. For more information, please visit www.syntellis.com.
Amendola Communications (for Syntellis Performance Solutions)