Selecting and moving to a new ERP solution can be an intimidating process, especially for higher education institutions. These institutions are dependent on tuition and grants, and face the uphill battle of efficient and accurate management of that funding.
Fortunately, there are ERPs for higher education that are designed specifically to meet the needs of the institution and enable it to better serve its students and employees.
Explore the top three reasons your institution should invest in one of these higher education ERPs, and learn how the right solution can improve your operations.
1. You’ll Streamline Operations
Time is money, and with every inefficient process or tedious task, valuable time and resources are wasted. If your institution relies on manual systems or aging ERPs, you’re not operating with the greatest efficiency.
One challenge that employees in finance and accounting departments face is switching among numerous systems to fulfill their day-to-day responsibilities. When you implement a designated higher education ERP, you can consolidate the systems you’re using into a single ERP solution. This leads to faster task completion and more accurate data.
2. You’ll Improve Fund Accounting
Your institution runs on funding from tuition, grants and other sources, so you want to ensure every dollar is accounted for and used wisely. With fund accounting capabilities, you can make sure that you have an uninterrupted cash flow and accurate financial metrics.
With the right ERP solution, you have the power to allocate your budget for maximum impact. Keep track of exactly where your funds are being used and identify areas where you can trim excess spending. And with better fund accounting and an up-to-date view of your funding, you can to make better decisions.
3. You’ll Have Cloud Access Anywhere
As the world becomes increasingly mobile, your institution needs to keep up. Whether your employees are attending conferences or just on the other side of campus, they can access your ERP solution, thanks to the today’s cloud capabilities.
ERPs of the past required users to be tied to their computers. But now you can use your ERP solution with ease on tablets and smartphones. The use of mobile devices gives you and your decision-makers access to crucial information on the go.
Moving to a higher education ERP solution brings a number of benefits to institutions like yours. Don’t waste your time and resources, when you could be adopting a new ERP today.
Want to learn more about the higher education ERP solutions available to your institution? Schedule a free consultation with AMS now to discuss your options.