Prophix Software, a global leader in Corporate Performance Management (CPM) software announced this May a partnership with Ellucian, the leading provider of software and services built to power higher education. Both companies bring innovation to the higher education industry, delivering immediate and measurable customer value.
Fluctuations in operating costs and revenue streams can make financial planning for higher education institutions a challenge. Prophix’s budgeting and planning platform allow higher education institutions to spend less time creating and managing financial processes and more time building programs and learning experiences.
Prophix and Banner: The Winning Combination
Prophix seamlessly integrates with Ellucian Banner® and Ellucian Colleague®, full enterprise resource planning (ERP) suites designed for higher education, to give users enhanced financial reporting and visibility. Combining the power of Prophix and Ellucian will allow customers to:
- Save time collecting and organizing data and more time analyzing
- Plan all aspects of future programs including headcount
- Simplify collaboration between users in the budgeting and forecasting process
- Provide “what if” planning scenarios
- Analyze budget to actual data across positions, tuition variances, course cost variables
- Streamline the process of pulling data from multiple sources to forecast across departments or campuses
- Analyze cash flow forecasts spanning courses, departments and previous periods
A Game Changer for Higher Education
“Our partnership with Ellucian means that higher educations institutions have powerful tools for finance and campus leaders to better manage the day-to-day and stay focused on planning & achieving their long-term strategic goals,” said Anita McArter, VP of Channels at Prophix.
“Using Prophix’s software to automate the creation of our annual budget has been a real game-changer – and we have improved our forecasting, too. We also generate reports on-demand that compare actuals, budgets, projections, previous year data, and variances,” said Ashley Naegle, Business Manager at Utah State University.
Why Fusionworks? Fusionworks is the only Puerto Rican company with a business line and more than 15 years experience exclusively dedicated to budget and planning. We are the experts.