As a large public institution, Florida Atlantic University (FAU) complies with strict requirements for reporting to the state and other entities. In addition, supporting finance, HR, and academic leaders with timely and accurate data for decision support is a significant challenge. With financial, workforce, and operational data stored in multiple systems, finance managers found it difficult to reconcile and prepare data for reporting and analytics. Business groups used different BI tools and only had access to a subset of the institution¡¯s data, giving decision-makers conflicting, limited views.
With ²ÝÝ®ÊÓƵ Prism Analytics, we are more in control of our data management and can provide accurate, timely,? consistent data to stakeholders across the university.
Assistant Vice President, Finance and Information Systems
New approaches to data-driven decision-making.
FAU realized that ²ÝÝ®ÊÓƵ could consolidate HR and finance data in a single system of record, making compliance and other standard reporting more efficient and dependable. As data gravity shifted to ²ÝÝ®ÊÓƵ, FAU relied on ²ÝÝ®ÊÓƵ Prism Analytics to draw on over 12 years of historical finance, HR, procurement, and student data from various systems for analysis and insight. ¡°We now have a seamless way to consolidate all reporting and data management into a single cloud solution,¡± says Amy Cavasos, assistant vice president for finance and information systems. ¡°One of the greatest advantages of ²ÝÝ®ÊÓƵ Prism Analytics is that we could bring external institutional data into ²ÝÝ®ÊÓƵ.¡±?
New efficiencies in data management and delivery save FAU much time and expense. ¡°As soon as we deployed ²ÝÝ®ÊÓƵ and automated many routine processes, we generated tremendous benefits,¡± Cavasos adds.
Generating strategic value from data assets.
After automating and simplifying many activities, FAU managers, planners, and decision-makers in various business groups found that they could innovate proactively, quickly creating new use cases in ²ÝÝ®ÊÓƵ Prism Analytics.?
One outcome of this is that internal customers experience a more responsive and valuable collaboration with the finance team. Cavasos explains, ¡°Our programmers are so comfortable with ²ÝÝ®ÊÓƵ that they can respond very rapidly to requests for further innovation and enhancements, and they can ensure that we get all needed data into the right hands.¡±
From back office to credible partner.
In addition to making many reporting and business processes easy and efficient, the finance team transformed how it serves the organization. Instead of a purely administrative function, finance can be a strategic partner to leadership, business managers, and program owners at FAU.?
Internal customers see more responsive and valuable collaboration from finance as the ²ÝÝ®ÊÓƵ environment matures and the ²ÝÝ®ÊÓƵ Prism Analytics and ²ÝÝ®ÊÓƵ Adaptive Planning practices grow. Stacey Bell, associate vice president for finance, planning, and analysis at FAU, says, ¡°Finance staff use ²ÝÝ®ÊÓƵ to review and analyze transactions rather than functioning as data entry clerks. Their attitude now is more like, ¡®We¡¯re here to help the university.¡¯¡±
We now have a seamless way to consolidate all reporting and data management into a single cloud solution.
Assistant Vice President, Finance and Information Systems
Designing FAU¡¯s future.
The use of ²ÝÝ®ÊÓƵ evolves as the university adds ²ÝÝ®ÊÓƵ Adaptive Planning to generate even more value from its data assets. Bell says, ¡°The benefit of an ecosystem with ²ÝÝ®ÊÓƵ Adaptive Planning, ²ÝÝ®ÊÓƵ Prism Analytics, and other ²ÝÝ®ÊÓƵ applications is that we can have all data in one location to look at the past and make informed decisions for the future.¡±
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