Financial Budgeting, Planning and Management Software Solution

Vendors to provide a comprehensive cloud-based financial budgeting, planning and management software solution designed specifically for higher education institutions; solution must
provide robust, secure, and user-friendly functionality that supports strategic decision-making, enhances operational efficiency, and aligns financial planning with institutional goals.
- Requirements
1. Ability for the system to be modified, maintained and run primarily by the University’s finance staff, with minimal coding requirements, and minimal IT intervention and support.
2. Ability to adapt to institutional change, including end-user or administrator control over budget and strategic modeling structures (e.g., entities, accounts, hierarchies, and calculation methodologies) without vendor reconfiguration or redevelopment.
3. Ease of use for both financial staff and non-financial budget “end users”.
4. Ability to integrate budget automation, workflow, short- and long-range financial planning, and financial reporting in one solution.
5. Role-based user access (approximately 400 fiscal administrators throughout the campuses, plus 30 supervisors at the campus administration level, and another 10 at the system administration level)
6. Approval routing and audit trails.
7. Commenting or notes functionality for collaboration.
8. Strong provider support for initial implementation and project mapping, and ongoing technical support.