Many higher education institutions are under enormous pressure simply to survive. Annual growths in tuition, low completion rate, demographic changes are just some of the challenges. With this in mind, why would higher eduction focus on business and administrative processes? Those are the process(es) to pay bills, to compensate employees, to award financial aid, to collect revenues, to hire new staff.
Most colleges and universities have made enormous investments in business and administrative systems. These investments are probably the largest single investment in technology any institution has ever, or perhaps ever will make. And the initial investment is only the beginning. Annual maintenance, hardware, technical staff to support the software etc. consume an increasing proportion of limited budgets and these trends are simply not sustainable.
An increasing number of higher education institutions have concluded that the future is cloud based Software-as-a-service: subscription based model with adoption of more common and standardized business processes. The rapidly increasing adoption of modern cloud-based accounting and financial management systems are enabling higher education institutions to reduce costs, secure efficiency gains, and increase the productivity of their departments.
Designed to meet the unique accounting and financial management challenges of ambitious higher education Institutions, Xledger is proven to help colleges and universities run leaner, more efficient finance departments in the cloud, combined with the ability to understand key higher education financials in real-time.
- Simplify day to day financial operations through the automation of processes like procure to pay, month end close, and funding and budgetary control for efficiency gains, cost reduction and increased productivity.
- Improve financial control via access to real-time reporting, departmental and faculty analysis and live KPI dashboards.
- Step back from the immersion of day to day financial operations and gain the freedom to focus your energies on increasing existing, and pursuing alternative sources of funding.
As a fully hosted pure cloud solution Xledger is available to institutions in higher education on a monthly subscription which means no vendor lock-in, no upfront capital investment, no IT headaches and access from any device, anywhere, anytime. Available in over 22 languages, with multi-entity and multi-currency capability, Xledger is a great choice for both US and International educational institutions.