Industry Solutions: Education

Financial Planning For Education

With With IntuitiveTEK's deployment of Workday Adaptive Planning, you can transform operational and financial planning processes. Charter schools, universities and other educational institutions are using this solution to drive greater transparency into expenses, control operating costs and better manage uncertain revenue streams.

The IntuitiveTEK team is responsive, helpful, and easy to work with. Prior knowledge of the charter school sector was helpful!

Andrew Epstein, Chief Financial Officer, Ascend Public Charter Schools
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Accelerate Planning Cycles and Align Budgeting With Enrollment

Workday Adaptive Planning helps educational institutions accelerate budgeting and expense cycles, align resources against priority programs and courses, and streamline critical processes like enrollment planning. Model and plan for financial KPIs such as net tuition revenues, in-state and out-of-state tuition revenues and discounts.

Easy-to-Use Reporting That Drives Transparency

Quickly generate financial statements and board reports anytime, anywhere. Drill down into the details of reports or sheets for instant transparency into income and spending. Easily distinguish actuals, encumbrances and committed dollars. Assess costs and expenditures at a more granular level with drag-and-drop reporting across multiple dimensions such as fund, organization, account, program, activity and employees. Meet NACUBO reporting requirements more easily.

Optimize Revenue Streams From Auxiliary Departments

Workday Adaptive Planning helps you model and create driver-based revenue and sales forecasts for auxiliary departments such as student housing, libraries, transportation and athletics programs. Get real-time visibility into support units’ sales plans, staffing and expenses. Display actuals in interactive dashboards and reports, and compare them to forecasts and plans.

Establish a Single Source of Truth Across Departments and Locations

Move beyond spreadsheet-based budgeting that’s time-consuming, cumbersome and error-prone. Workday Adaptive Planning software centralizes actuals, plans, forecasts, calculations and cell notes into a single source of truth. This common data foundation fuels trust and accountability, and ensures that your planning processes scale with growth.

Learn more about how we can help your organization plan smarter, report faster and analyze better.

Align Your Planning & Reporting Calendar to Your Institution

Unlike simplistic and static time granularity, we believe you should have complete flexibility when it comes to modeling time in your financial plans and reports. That is why why Workday Adaptive Planning designed a powerful, end-user configured time modeling capability. Time is what you make of it.

And with a completely customizable calendar, you can define break periods and roll-ups however you like. This means break periods, typical in education that vary in length and sequence or start on different dates or weeks from one year to next, can be set up easily. You choose how to roll up your calendar, whether that’s in weeks, months, quarters, trimesters, semesters or whatever you like. This allows you to share one aligned view across both academic and fiscal calendars.

Watch Adaptive Insights' Featured Education Webinar: Tactical to Strategic Finance

See Workday Adaptive Planning customers describe how they made the transition from tactical to strategic—and elevated the role of finance to better address emerging challenges in their institutions. Panelists include Elizabeth Dionne, director of finance at College of the Holy Cross, and John McGrath, budgeting manager at Babson College.

Achievement First Customer Success Story

Ascend Public Charter Schools Customer Success Story

Education Datasheet

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