Deeper integration between Axiom and ERP vendor will drive new insights and facilitate better financial planning within higher education institutions
CHICAGO, Ill. – November 27, 2018 – Kaufman Hall today reconfirmed its commitment to helping leaders and financial professionals at colleges and universities gain new insights and improve their financial planning capabilities with the announcement of a new partnership agreement with Ellucian.
The agreement will enable deeper integration between Ellucian’s enterprise resource planning (ERP) software and the Kaufman Hall Axiom Higher Education Suite. As a result, leaders in those institutions will be able to make more effective, data-driven financial decisions that not only improve present performance but also help them successfully plan five to 10 years down the road.
“Financial planning in higher education has become more complex and challenging in the last few years as a result of uncertainties in revenue streams, changing business models, and evolving needs among students, as well as other issues,” said Tony Ard, vice president, higher education software at Kaufman Hall. “Colleges and universities require new levels of insight to meet these challenges. We are excited to officially partner with Ellucian because they share our mission to help higher education institutions manage their financial resources more effectively.”
Kaufman Hall’s Axiom Higher Education Suite provides sophisticated and intuitive software to support institutional financial planning and reporting. Axiom Software strategic financial planning solutions enable the development of multi-year and long-range financial plans that are fully integrated with operational budgets and forecasts. Axiom Software also provides improved budgeting and forecasting to ensure that best-practice planning methodologies are used across the institution and provide centralized assumptions that can be easily flexed to create alternative scenarios.
Ellucian develops solutions that power the essential work of colleges and universities. The company works with more than 2,500 institutions in more than 50 countries, enhancing operations and enriching the educational experience for nearly 20 million students. Ellucian offers student information systems (SIS), finance and HR, recruiting, retention, analytics and advancement software solutions.
“Higher education is still feeling the squeeze of an economy that led to higher costs and declining student enrollment,” said Chris Westfall, vice president, partnerships, at Ellucian. “This reality has made it more important than ever for colleges and universities to understand their current financial situations at a deeper level and plan with more precision. We have experience with Kaufman Hall’s software and what it offers after having shared clients on an informal basis for several years. We are happy to formalize our partnership and to welcome Kaufman Hall to the Ellucian community.”
About Kaufman Hall
Kaufman Hall provides management consulting and software to help organizations realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall software includes the Axiom Software Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, performance reporting, capital planning, and cost accounting deliver decision support, reporting, and analytics within an integrated software platform. Kaufman Hall’s Peak Software empowers healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.