Constant fluctuations in operating costs and revenue streams can make financial planning for higher education institutions a headache.
We’ve developed a budgeting and planning platform that allows you to spend less time creating and managing financial processes and more time building innovative programs and learning experiences.
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.
Ashley Naegle Business Manager Utah State University
Prophix allows you to track all vital KPI’s across your financial, operational and student information systems. Find out which programs are over-spending by tracking spending per student or align faculty resources to programs based on faculty-to-student ratios. Through simple and visual dashboards, campus leaders, department heads, and finance can monitor performance and track progress to achieve set goals.
Budgeting is a smooth process with Prophix. Intuitive budget templates make it easy for academic and administrative department heads to enter, update, and validate data. Budgets are now able to keep up with the pace of the rest of the institution – less time spent compiling reports means more time available to operate.
Higher Education institutions must balance fiscal responsibility with the best interests of students, staff and faculty. Prophix is your way to create a single source of the truth, by centralizing all your financial data – from your accounting source systems to your budgeting and planning information. Automated distribution of reports from a trusted source, sound good to you?
Prophix has robust workflow capabilities built right in. Users see a list of assigned tasks on their dashboard to complete a business process (Annual Budget, Forecast, Long-Term/Strategic Plan, etc.). Clicking on a task takes the user directly to the form to complete, review, approve or submit the task as part of the planned workflow.
Increasing operating costs and uncertain revenue streams mean the need for a more disciplined approach to financial planning for Higher Education intuitions. Prophix’s performance management software automates assumptions and methodologies to streamline budgeting and planning processes and ensure financial data consistency. Now finance and campus leaders can better manage their institutions and achieve long-term strategic goals.
Prophix has completed the HECVAT!
The Higher Education Cloud Vendor Assessment Tool helps higher education institutions ensure that cloud services are appropriately assessed for security and privacy needs, including some that are unique to higher education.