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Axiom EPM has revolutionized the budgeting and planning processes for universities, hospitals, and other organizations. Users have praised …
Axiom Software by Syntellis Performance Solutions
Overview
What is Axiom Software by Syntellis Performance Solutions?
Syntellis Performance Solutions provides enterprise performance management software, data and analytics solution for healthcare organizations, financial institutions, and higher education institutions. Axiom arms finance teams and executives with tools for budgeting, forecasting, planning, and reporting, so they can analyze results,…
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Popular Features
- Financial budgeting (6)7.878%
- Management reporting (5)6.565%
- Forecasting (5)5.757%
- Scenario modeling (5)3.838%
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What is Axiom Software by Syntellis Performance Solutions?
Syntellis Performance Solutions provides enterprise performance management software, data and analytics solution for healthcare organizations, financial institutions, and higher education institutions. Axiom arms finance teams and executives with tools for budgeting, forecasting, planning, and…
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What is Axiom Software by Syntellis Performance Solutions?
Syntellis Performance Solutions provides enterprise performance management software, data and analytics solution for healthcare organizations, financial institutions, and higher education institutions. Axiom arms finance teams and executives with tools for budgeting, forecasting, planning, and reporting, so they can analyze results, model the future, and make more strategic decisions.
Their solutions include enterprise planning, cost and decision support, and financial and clinical analytics tools to elevate healthcare organizational performance. Their budgeting, financial planning, and analytics solutions aim to help colleges and universities elevate financial performance. According to the vendor, over 2,800 organizations and 450,000 individuals are active users, and higher education institutions use Axiom software to manage nearly $60 billion in revenue and $100 billion in endowments. Banks, credit unions, and farm credit associations using Axiom solutions to manage nearly $1 trillion in assets.
Axiom Software is a wholly-owned subsidiary of Syntellis Performance Solutions (formerly Kaufman Hall Software).
Axiom Software by Syntellis Performance Solutions Features
Budgeting, Planning, and Forecasting Features
- Supported: Long-term financial planning
- Supported: Financial budgeting
- Supported: Forecasting
- Supported: Scenario modeling
- Supported: Management reporting
Consolidation and Close Features
- Supported: Financial data consolidation
- Supported: Local and consolidated reporting
- Supported: Detailed Audit Trails
Financial Reporting and Compliance Features
- Supported: Financial Statement Reporting
- Supported: Management Reporting
- Supported: Excel-based Reporting
- Supported: Automated board and financial reporting
- Supported: XBRL support for regulatory filing
Analytics and Reporting Features
- Supported: Personalized dashboards
- Supported: Color-coded scorecards
- Supported: KPIs
- Supported: Cost and profitability analysis
- Supported: Key Performance Indicator setting
- Supported: Benchmarking with external data
Integration Features
- Supported: Flat file integration
- Supported: Excel data integration
- Supported: Direct links to 3rd-party data sources
Axiom Software by Syntellis Performance Solutions Video
Introduction to Axiom Software Product Features
Axiom Software by Syntellis Performance Solutions Integrations
Axiom Software by Syntellis Performance Solutions Competitors
Axiom Software by Syntellis Performance Solutions Technical Details
| Deployment Types | On-premise, Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Windows, Mac |
| Mobile Application | Apple iOS, Mobile Web |
Frequently Asked Questions
IBM Cognos Analytics, Oracle Hyperion, and Anaplan are common alternatives for Axiom Software by Syntellis Performance Solutions.
Reviewers rate Excel data integration highest, with a score of 8.4.
The most common users of Axiom Software by Syntellis Performance Solutions are from Enterprises (1,001+ employees).
Axiom Software by Syntellis Performance Solutions Customer Size Distribution
| Consumers | 0% |
|---|---|
| Small Businesses (1-50 employees) | 0% |
| Mid-Size Companies (51-500 employees) | 30% |
| Enterprises (more than 500 employees) | 70% |
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Reviews and Ratings
(11)
Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
- Recommendations
Axiom EPM has revolutionized the budgeting and planning processes for universities, hospitals, and other organizations. Users have praised the software for its ability to integrate planning between departments and provide the necessary level of detail for successful financial strategies. The cross-charging feature has been particularly useful, allowing departments to approve or deny charges and enabling accurate internal financial reporting. Axiom is relied upon by both FP&A and Accounting Departments for daily financial reporting and custom ad hoc analysis. Furthermore, the software's flexibility and customization options have significantly reduced overall budgeting processing time and continue to provide efficiencies. With Axiom, users can confidently make cash flow predictions, strengthen financial strategies, and analyze data effectively.
In hospitals, Axiom serves as the primary tool for budgeting and financial reporting, replacing manual spreadsheets and automating reports. It has proven invaluable in reviewing department performance, identifying variances, and asking critical questions. The cost accounting utility within Axiom allows finance departments to provide in-depth analysis on hot topic issues. Campus-wide, Axiom acts as the all-encompassing tool for budgeting, long-range forecasts, and in-year planning, covering both labor and non-labor expenses. The software's advanced capabilities assist with budget planning, financial monitoring, and forecasting processes. From universities to healthcare institutions, Axiom EPM has become an indispensable asset for organizations seeking efficiency and accuracy in their financial operations.
Improved Performance: Several users have found that Axiom's template load and saving performance is significantly better than their previous EPM system, even for large plan files. This has resulted in faster and more efficient work processes.
Customizable Reports: Users appreciate that Axiom consultants are able to create completely customized reports for any collected data. This allows them to get the specific insights they need for their business analysis.
Easy User Security Setup: Many users have mentioned that setting up user security in Axiom is a fairly easy one-time task. They also find it easy to maintain when people change departments or leave the organization. Some users even recommend using the role-based security settings offered by Axiom.
Inexperienced Implementation Consultants: Several users have expressed frustration with Axiom's choice of inexperienced implementation consultants for their projects. This has resulted in issues with data accuracy and reporting, causing complications for the users.
Confusing Learning Curve for Reporting Buildout: Some users have found the learning curve for the reporting buildout to be confusing. They believe that there is room for improvement in this area, suggesting that Axiom should prioritize familiarizing themselves with the source data early on in the project to avoid complications.
Difficulty Contacting Real Person for Support: While technical support from Axiom is knowledgeable and resolves issues promptly, some users have mentioned that it can be difficult to get in touch with a real person due to heavy reliance on email correspondence. This lack of direct communication can be frustrating when urgent assistance is needed.
Users have made several recommendations based on their experiences with the software. Here are the three most common recommendations:
Firstly, users recommend involving a cross-functional team during implementation. This includes finance leaders, IT, and data managers, ensuring that all perspectives are considered and informed decisions can be made.
Secondly, it is recommended to have at least one dedicated person responsible for administering the system. This helps in effectively managing and maintaining the software, ensuring smooth operations.
Lastly, users advise centralizing and standardizing the chart of accounts within the software. This practice helps in maintaining consistency and streamlining financial reporting processes.
These recommendations highlight the importance of involving a diverse team during implementation, assigning dedicated administrators, and standardizing financial practices within the software.
Attribute Ratings
Reviews
(1-5 of 5)Companies can't remove reviews or game the system. Here's why
November 19, 2021
The Axiom that Axiom is a Cool Product
Axiom software is now the primary tool at our hospital for budgeting and financial reporting. It replaced dozens of manual spreadsheets and now contains one source of truth that is shared across all financial reports. As a bonus, it has also allowed us to automate many reports that the organization uses, reducing manual keying by 95% and errors thereof
- Budgeting
- Performance Reporting
- Customer Support
- Implementation is quite Complex and requires both IT and Financial buy-in
- Reporting solution has some learning curve for end users
- Calculation methods within reporting can be opaque and hard to trace
58%
5.8
56.66666666666667%
5.7
72.5%
7.3
58.33333333333333%
5.8
63.33333333333333%
6.3
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- Our Budget process is ~90% faster
- Our reporting is more robust than ever before
- Automation has allowed us to shave almost a full FTE out of Finance.
When we shopped for Axiom, there really wasn't any comparable product on the marketplace that we could find. It has a full suite of products (including some we don't use like capital management, profitability, productivity, and benchmarking), and everything was in "one place." Since we wanted something that would last and be able to scale as needed, Axiom was really the only product we could find to check all the boxes.
November 10, 2021
Axiom Software - Review
The Budgeting utility is used throughout the organization. This allows managers to quickly review their departments performance and be able to ask questions and explain variances. It also helps streamline the budgeting process. The Cost accounting utility is used by the finance department to provide analysis to upper management of hot topic issues.
- Financial statements
- Budgeting planning
- Drill downs
- Customer service
- Cost accounting knowledge
- Update support
- Training
- Costing steps missing from process guide
- Taking responsibility
78%
7.8
80%
8.0
78%
7.8
55%
5.5
43.33333333333333%
4.3
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- Expensive
- Keeps managers informed
Axiom was selected based on the impression of ease of use and integration. It is capable of holding all of our entities data while giving us an easier more accessible way to deliver monthly Financials and reports to managers. Then in costing we signed up because the impression of budgeting.
November 10, 2021
Axiom has completely transformed our budgeting process
We use Axiom for all of our internal Financial Reporting, Budgeting, Forecasting, and Organizational Profitability including FTP. The FP&A and Accounting Departments use Axiom on a daily basis for Financial Reporting and daily custom ad hoc analysis. We do have many users with a limited license which allows them to view reports in Axiom but limits their ability to save data or make any changes in the software. Axiom has cut our overall Budgeting processing time in half and we continue to find more efficiencies within the system every year due to the extreme flexibility and customization that the Axiom software allows.
- Extremely flexible and dynamic allowing for customizations that align with our business needs
- The database structure within Axiom allows us to create custom tables for adhoc data analysis
- The processing time of Axiom (daily imports, monthly imports, Budgeting processes) are extremely favorable allowing us to cut our budget cycle time in half compared to our previous system.
- The learning curve of their buildout of reporting is a bit confusing and definitely has some room for improvement. Once the concepts are learned and adapted, the reporting is extremely powerful.
- Technical Support. The Technical Support team is extremely knowledgeable and they always resolve our issues in a timely fashion, however; the issue is getting a hold of a real person. Axiom relies heavily on email correspondence with support which lags the overall effectiveness, especially in urgent cases.
58%
5.8
53.33333333333333%
5.3
60%
6.0
26.666666666666664%
2.7
96.66666666666666%
9.7
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- Axiom has allowed us to cut our overall budget cycle time in half with a much higher level of accuracy in all facets of the budget.
- Axiom has allowed us to Forecast, specifically Non Interest expense and Fee income at a very detailed and accurate level compared to our previous system.
- The processing time of consolidating the Budget results went from about 8 hours in our previous system to 5 minutes in Axiom (35000 customer records)
The only other system I have worked with was the Fiserv MPC product, which is what we had Axiom replace. The Fiserv MPC product does not even come close to the functionality of Axiom. For our Budget, we would have to run an Excel Macro in Fiserv MPC overnight which took about 8 hours to process in order for us to to see the results of the inputs we did the previous day. With Axiom, the non-margin items (Non-Interest Expense, Non-Interest Income) are real time - as soon as you click Save, the data is available. On the Cash Flow Margin side (Loans & Deposits), it takes about 5 minutes to fully process in Axiom approx. 30,000 records, which is extremely favorable.
November 10, 2021
Two experiences with Axiom: Consultation and Client input are key to a great product
Axiom is currently the budget, long-range forecast, and in-year planning tool used by our Campus. The budget module encompasses both labor and non-labor. There is also a tuition planning module that we are still testing. I also used Axiom at my previous institution where all areas were in one module. It is a sophisticated tool that can be very helpful in budget planning, financial monitoring, and forecasting processes.
- detailed labor charges/planning
- real time updating of information in tool
- report development. standard reporting
- testing revisions/enhancements prior to deliver to client
62%
6.2
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8%
0.8
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- not sure as I am not at this level
wasn't on the evaluation team
May 16, 2018
The Axiom of Axiom Reviews
The entire university is using Axiom EPM for the first time this year. In the past, every department in the university budgeted in silos. Some budgeted at a high level of detail, while most would simply provide summary planning. We've used Axiom to provide options for departments to budget at the level of detail they need to successfully plan. Axiom also allows us to integrate the planing process between departments by allowing cross-charges. If one department charges another for a portion of a faculty, the charged department views the charge in their file and can choose whether to deny or approve.
- Compared to a previous EPM we used, Axiom's template load and saving performance has been much better even for large plan files.
- Axiom consultants can create completely customized reports for any of the collected data. Super users within your organization can then fairly easily modify their work to create additional reports without Axiom's help (and invoices)
- Setting up user security is a fairly easy one-time task and very easy to maintain when people change departments, leave the organization, etc. I would recommend you use role-based security settings.
- Compared to our previous EPM, Axiom allows more customization and possibilities for templates. There's very few "the product can't do that" statements.
- Unfortunately, Axiom only assigned two implementation consultants to our massive project and both were completely new to the product and inexperienced.
- This isn't really a fault of Axiom, but your organization's data has to be perfect before implementing Axiom. You need a strong project manager within your organization to take the lead in working with Axiom. They should be very familiar with the source data and what's important to all your internal stakeholders. The Axiom team needs to be clearly told exactly what you need from them.
- We never truly felt confident anyone from Axiom was really familiar with the source tables and data being used. I would suggest in any project they make that a priority early on. Not being familiar with the data caused a list of issues regarding reporting and template construction.
68%
6.8
96.66666666666666%
9.7
66%
6.6
43.33333333333333%
4.3
90%
9.0
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- This is only the first year of implementation for the university, so the ROI is yet to be fully seen. For our department, which is the largest in the university, I think the ROI has been fairly high as our users have had more built-in resources within their plan files than they had previously.
Vena was a strong product, but only our department within the University used it for budgeting. The entire university chose Axiom for the increased scale and capacity. The loading and saving performance of Axiom is slightly better than Vena. Also, Axiom provides more template and report customization. Vena definitely excelled more in their support and staffing and was much cheaper (so I'm told) than Axiom.
Yes
Most issues were fixed in a timely manner. However, often times the fixes made were incorrect and caused additional template errors. This was especially detrimental during go-live. As previously noted, the consultants were both new to Axiom which definitely caused growing pains. To be fair, on our side, we also did not have a strong project manager that worked to bridge the gap between the two entities, especially as it related to internal data integrity and organization.
The consultants did a great job building reports for us and setting up batch processes that automate the reports and place them directly to folders within our internal shared drive. They then did a great job teaching us how to set up our own batch processes for additional customized reports.