The Importance of Strategic Financial Analysis for Higher Education

Today, institutions of higher education constantly face fiscal pressure from limited budgets, decreasing support from taxpayers, and shrinking subsidies. Limited resources and rising expectations often leave institutions in a situation where they struggle to deliver enhanced programs and offerings. To combat these challenges, budget and finance departments leverage strategic financial analysis for higher education to understand what’s going on within their institution and ultimately make better decisions.

Strategic financial analysis consists of consolidating massive amounts of data, analyzing it, and acting on the story behind the numbers. When done well, institutions can:

  • Drive toward unified planning and cross-organizational visibility
  • Encourage participation “at the edge” to nurture participant buy-in
  • Develop a planning process that attracts, develops and retains world class faculty and staff
  • Deliver initiative, program and departmental insights that are timely, accurate and useful for planning
  • Enable and encourage stakeholders to tell the institution’s story and achievements

Challenge

Many institutions struggle with strategic financial analysis for higher education because it can be extremely laborious, manual, and time-intensive for budget and finance departments. Individuals typically spend their time reporting and consolidating information instead of analyzing data.

Streamline Strategic Financial Analysis

Tidemark was developed to simplify strategic financial analysis for higher education by bringing together disparate processes to better align budgets and goals. Tidemark’s highly intuitive platform with configurable built-in processes help institutions increase productivity, collaborate more efficiently, create effective model scenarios, and access related data, conversations, and documentation for optimal strategic planning, budgeting and analysis.

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