Business Affairs Forum
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Higher education finance leaders must prepare their institutions to effectively respond to external threats and market pressures. EAB has identified five characteristics—or hallmarks—of higher education’s most strategic finance functions.
Design a hybrid budget model
As your campus becomes more experienced in its process improvement journey, you may develop homegrown tools and resources—but the five steps outlined in this Roadmap should always remain your baseline.
Shared services developed a bad reputation in higher education in part because many early movers followed the private sector lift and shift model, “lifting” administrative personnel from units and “shifting” them to the new shared services organization all at once. In most cases, top-down mandates and mass migrations to shared services are neither desirable nor practical.
Many institutions are considering wholesale budget model changes to reinforce financial goals and strategic priorities, but there isn’t a uniform “one-size-fits-all” model that every institution should emulate. Learn how to design custom models that align with your institution’s unique strategic priorities, mission, and culture.
Process improvement is a proven method of redesigning and transforming sub-optimal workflows. Securing these early wins helps to generate buy-in and whet the appetite among stakeholders for even more improvements.
ExpertsMore on Our Experts
In this session, we'll introduce the five characteristics, or hallmarks, of effective future finance functions.
This webinar provides a look-back on trends of the past decade, while pointing to lessons learned to avoid costly mistakes of pursuing all-or-nothing implementations.