A recent survey shows 86% of higher ed institutions still use a combination of spreadsheets, paper and pencil for financial planning and analysis (FP&A). Scenario planning in today’s economy is challenging enough without relying on decades-old decision-support tools and processes.
A growing roster of resilient-minded academic programs now turn to FP&A tools that help automate and facilitate improved decision-making. The new methods help leadership navigate a myriad of critical decision requirements, such as responses to changing enrollment, staffing, financial, and capital needs through a national pandemic and beyond. The playbook examines five methods academic leaders can observe in FP&A best practices, including:
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