Are you searching for ways to increase efficiency in your institution? For many institutions, it’s a struggle to meet strict reporting requirements and manage complex financials each day. But with a higher education ERP solution, you can perform and automate all the accounting functions you’re currently doing manually.
If you’re in the market for a higher education ERP solution, ask the following questions and evaluate the answers to ensure you’re selecting the right solution.
1. What Can A Higher Education ERP Do For Me?
The benefits of investing in higher education ERP solutions are numerous, and include improved fund accounting and real-time reporting. Evaluate your needs and look for solutions that provide those specific features. You’ll increase productivity and benefit from the solution’s built-in best practices.
2. Is This Solution Specific To Higher Education?
Not just any ERP solution will deliver the results you’re looking for. Higher education institutions have highly specific reporting requirements and needs. Make sure you find an ERP solution designed for higher education that includes the features that will make your employees’ jobs easier.
3. How Will This Impact Employees?
You employees don’t want to waste valuable time completing tedious and time-consuming tasks. With an ERP for higher education, your employees can take advantage of automated reporting capabilities and easy-to-use financial functions.
As a higher education institution, you have to adhere to strenuous reporting requirements with regard to your funding and how it is used. Meeting these reporting requirements is challenging, but with an ERP for higher education, your staff can generate these reports, based on real-time data, with ease.
4. How Will This Impact Students?
Ultimately, you want an ERP solution that enables your institution to better serve the students who are part of your community. Through more efficient operations and better fund accounting, your departments can reap the benefits of funding faster and more effectively. And when you cut operational costs, you can mitigate the risk of tuition increases.
5. Do We Have A Trusted ERP Expert To Work With?
Choosing an ERP can be an arduous process since there are so many options. Finding an ERP expert to guide you through the selection and implementation process is the key to ensuring you have the right ERP solution. Partner with an ERP expert that has familiarity with higher education and understands your needs.
6. Is This An Affordable Solution?
Ultimately, you want the higher education ERP you invest in to be a savvy financial decision for your institution. Fortunately, there are a number of pricing options available through ERP providers such as SAP. You can choose from subscription pricing models that allow you to pay only for the number of users needed. This is makes solutions both cost-effective and scalable, if you should need to change the number of users in the future.
7. How Long Will Implementation Take?
ERP buyers should always ask how long implementation will take. You want to make sure your ERP is up and running efficiently as soon as possible. Consider talking to your ERP expert about implementing the solution during summer break or between terms.
Consider these seven questions carefully before you invest in an ERP for higher education. Talk them over with a trusted ERP expert, and use them make the best ERP selection for your institution.
Learn more about selecting and implementing an ERP solution in this free tip sheet.