Tidemark Financial Planning for Higher Education
Times are Changing for the Higher Education Environment
Fiscal pressures on institutions have never been greater. Resources are limited and in constant demand. How do you fund the right programs to support your university's overall strategy? How can you most effectively align use and source to support your goals while encouraging collaboration between faculty and staff?
What Is Tidemark?
Tidemark is Highly Intuitive and Flexible Budgeting and Analytics Built for Higher Education
Tidemark uniquely brings together what are too often disparate processes and helps you:
- Properly align your budget with your institution's overall goals and strategy.
- Build a more effective budget by engaging and empowering users while fostering strong collaboration between administrators and faculty members.
- Maintain full control without stifling user participation.
- Support the complex and unique budgeting and planning needs of your institution while never losing track of the big picture.
Tidemark is a unique, next generation platform for higher education that unifies the critical processes of:
- Strategic planning
- Revenue planning
- Personnel budgeting/control (by fund, grant, etc.)
- Departmental budgeting
- Capital planning
- Grant planning
- Institution wide visibility/analytics (telling your story)
Tidemark supports both centralized and highly decentralized university environments. It helps you transform your processes, better and more effectively align your scarce resources, and engage and empower your users so you can spend dollars thoughtfully and focus on what's truly important to your institution.
Tidemark is easy to use and works where your users work - desktops, laptops, tablets and phones. Your users can take action when they need to: approve a budget from a smartphone, update a plan from a tablet, etc.
How Does Tidemark Help?
Provide a Holistic View of the Entire Budgeting Process
Eliminate Time-Intensive Manual Processes
Aggregate disparate information from multiple sources in real-time into one unified planning process and operating budget.
Create Visibility Across the Entire University
Give staff and faculty members who were previously not involved in the budgeting process, a full view of the data and events, collaborations, and conversations taking place around the budgeting plan.
Move Away from Excel and Legacy Tools
Empower faculty and staff members to accurately control their own budgets and see the entire picture.
Take Strategic Action with Confidence
Identify the Current Budgeting and Funding Situation
Gain visibility into how you’re using your money now and understand the funding source.
Make Proper Adjustments
Enable the flexibility to take corrective action in a timely fashion by making immediate changes within the application and track impacts.
Model Multi-Year Budget Forecasts
Gather multi-year projections of enrollment, tuition and other income, student aid, debt and other expenses, non-discretionary inflationary items, as well as reserve requirements.
Involve the Right People in the Process
Get Faculty and Staff Excited About the Story of the University
Engage more people by sharing the message of what tuition trends look like and focus on the important initiatives.
Work together and communicate in the right way by collaboratively creating personnel plans, departmental budgets and strategic forecasts.
Share the Data
Provide a mechanism to flexibly share data to internal and external stakeholders in usable formats.
Born in the Cloud, Mobile First
Look at the story of the university in a highly appealing format from anywhere on any mobile device.
Higher Education Case Study
See how Brown University is transforming its budgeting and planning process to attain higher levels of academic excellence and continue to recruit the best faculty and students.
Brown University Graduates from a Legacy Platform to Collaborative Planning in the Cloud
With four schools working from separate financial models and data repositories, Brown was struggling to maintain a unified strategic planning process that provided visibility across the entire University.
Brown’s implementation of Tidemark eliminated time-intensive, manual processes. Brown can now seamlessly aggregate data from multiple users into one unified planning process and operating budget, effectively replacing several legacy solutions.
“Tidemark gives us the functionality, and flexibility to budget in the Workday data model and see the results at all levels of the organization.”
Susan Howitt, Associate Vice President for Budget and Planning, Brown University