March 20, 2017
Score 10 out of 10
Read Lori Lambert's full review
Business Processes Supported
- Annual Budgeting - We have a two step process that uses assumptions to create tuition, fees, enrollment and other revenue budgets, as well as apply inflation increases to expense lines. The second phase uses the first phase to allocate portions of the first phase to departments and serves as a target budget for each department.
- Annual forecasting - We require departments to estimate fiscal year end revenue and expense amounts based on actuals and budgets through a portion of the fiscal year.
- Salary Increase Planning - Managers allocate salary increases (based on an allocated amount) to personnel within the departments using percentage changes, flat changes or hourly dollar amounts.