College and university officials showed incredible resilience during the shift to online instruction, while dealing with the subsequent financial impacts of COVID-19 in 2020. Yet new data from the 2021 Higher Education Financial Technology Trends report reveals that finance leaders need more dynamic tools and technology to prepare for whatever lies ahead.
CHICAGO — February 9, 2021 — In 2020, higher education institutions faced monumental challenges, with campuses shutting down, academic calendars shifting dramatically and enrollment numbers declining.
By using Syntellis’ Axiom™ Budgeting & Forecasting and Axiom™ Long-Range Planning, a typical higher education institution with $75 million in annual revenue, $75 million in operating expenses, and compensation expenses of $50 million would see a payback in 6.6 months and generate a return on investment (ROI) of 235% over three years.
Dear Syntellis!
COVID-19 has totally derailed our efforts to work toward our university strategic plan. Especially amid the continued uncertainty, how can we get back on track?
- Frazzled in Finance
Dear Frazzled,
