Are your people, processes and platforms aligned to help you make data driven decisions? If you’re responsible for the financial well-being of your institution, ask yourself…
- Are you able to access the information you need each day to make decisions?
- Are your processes automated and monthly closing standardized?
- Is your finance team focused on the right work and constantly improving?
- Does your team posses the right skills to get your institution where it wants to be?
If you answered ‘No‘ to any of these questions, we can help!
Finance Leaders are expected to ensure the institution is operating in a way that ensures that it is financially healthy, operationally efficient and able to meet strategic plans. To support this, modern finance departments are expected to partner within educational organizations to help create value.
Not only are finance leaders expected to deliver timely and accurate financial data, but they are also responsible for presenting it in such a way that helps drive future decision making.
Additionally, the demand for data analysis happens as real time information continuously pours in. Finance leaders need to think critically about past assumptions and look forward to help solve complex problems. The success of this entire process is dependent on our team’s ability to listen and collaborate with others. If you need help preparing for the future, contact us.
Finance departments that struggle to produce monthly financial reports find themselves always playing catch up and evaluating past performance while the leadership team is asking for real time actionable data in order to make decisions about the future. We can help regardless of what stage you are at.
Plan – Do you have the right skills and processes in place to get the information you need to make decisions? Every finance department needs to have the right team, with the right skills, doing the right things. Too often we spend so much time gathering basic data elements that we are not able to focus on strategy. Many of these activities like AP and AR are considered high volume, and low value. They make up at least 70% of the activities within finance and present the greatest opportunity for automation. We can help you assess the team, processes and tools that you can benefit from to get the greatest ROI.
Execute – Are you receiving timely and accurate financial reports? We spend months developing our budgets and weeks closing the month and generating our monthly budget to actual reports. We can help you assess your processes and tools to identify opportunities for efficiency, help implement those changes through our Reporting + Automation Services and ensure your team is ready to move to the next level.
Analyze + Strategize – Do you have a strategic plan that is linked to a 3 year projection that you are constantly adjusting as the future becomes more clear? Too often, we measure the success of a finance team by the ability to present timely and accurate financial reports. Yet, by the time we see them, the information is old, it tells us what occurred last month. In order to manage current performance, we need to understand what these numbers are telling us about where we will be by year end (Projections) or by the end of 3 years. Of course, during times like these when there are so many uncertainties about the future, we need Scenario Planning + Forecasting tools to help us understand how to move forward under multiple different conditions. As one of these scenarios become more clear, we can simply plug it in and run with a solution. While we all need some level of projections and scenarios, each institution has a unique mix of staff and financial resources. Let us help you evaluate what you are ready for.
Transform to Drive Performance – With the right team in place, high volume processes automated, efficient reporting processes, and scenario planning, you have everything you need to focus on the future. Let us help you convert your information into a calls-to-action through Enterprise Dashboards + Metrics, linked directly to your strategic plan.
“Not having a dedicated special project team, we turn to FuturED Finance to help us complete high-level finance projects and implement efficiency tools. They hit the ground running, ask the right questions, then meet with the right people. We know we can count on them, we’re confident that we will get what we ask for. I highly recommend them for any higher education financial need.”
Senior VP of Finance & Administration