While ERP for Higher Education is becoming more commonplace, institutions should consider a few factors before making the leap. Ultimately, a successful implementation will allow an institution to improve countless processes, from onboarding staff and processing financial aid to enhancing record-keeping. Successful implementations will require the involvement of people from various departments, including IT staff and functional staff. To get the best out of an ERP system, institutions must secure buy-in from these stakeholders and equip them with a vision.
When used properly, an ERP system for higher education can help organizations improve efficiency and reduce costs. The most common features include integrated student and academic life cycle management, a secure centralized database that can be accessed from anywhere, and tools to support effective inter-departmental communication. In addition, because all data is stored in one centralized database, ERP for Higher Education systems enables secure logins. Moreover, the availability of mobile applications helps colleges and universities meet the increasing expectations of students and meet the challenges they face on the go.
While ERP for Higher Education software may have many other benefits, administrators are the primary users of higher education ERP systems. A student information system is an integral part of an ERP for Higher Education, and it tracks information about students, such as their names, class and grade histories, and any required courses. Student information is typically updated online and faculty enter grades into the system. The software helps administrators and faculty manage enrollment, as well as other essential functions, without having to manually input data.
The key to an effective higher education ERP system is to determine the right type of software. A higher education ERP helps manage all business workflows within a college, and streamline information flow among departments and with outside stakeholders. By automating administrative processes and aspects of the student life cycle, an ERP system can streamline many administrative tasks and improve student performance. Higher education ERPs also integrate email and SMS functionality to send and receive messages, manage daily schedules, and track attendance.
A modern ERP for Higher Education can help institutions combat the enrollment crisis by making it easier for new students to enroll. With fewer hurdles to overcome, new students are more likely to enroll. Retention solutions are equally important in combating the enrollment crisis since 40% of undergraduate degree program students drop out before completion. Non-traditional students tend to have higher dropout rates. Therefore, an ERP for Higher Education should include advanced retention solutions. These solutions are vital and are included in many ERPs for Higher Education.
An ERP for Higher Education solution from a reputable software company like NetSuite can help educational institutions break down silos and streamline their operational processes. It can handle student records and financial data and also support operations for human resources, facilities, and fundraising. ERPs for Higher Education can manage multiple legal entities and subsidiaries, as well as foreign currencies, taxation rules, and reporting requirements. In addition, a cloud-based solution can provide a full range of services that enable educational institutions to improve their operations and meet organizational goals.
Implementing a cloud-based ERP for Higher Education can help transform your entire campus. Changing the way your organization operates is a key strategic decision for colleges and universities. To reap maximum benefits from cloud-based ERP, you must ensure a thoughtful cloud migration strategy and a comprehensive post-implementation plan. Whether you’re a large institution or a small college, it’s essential to consider how people, processes, and technology can be incorporated in the transformation process.
As a higher-ed institution, planning functionality is essential for efficient management. While the future state may be cloud-based, some higher-education institutions have their own data centers that are in a fire zone. For this reason, some customers have moved their applications off-premises to hyperscalers or hosting firms. To avoid disasters, higher-ed institutions should consider cloud-based ERP solutions for their ERP implementation. In addition to cloud-based ERP, traditional CPM/EPM vendors have seen strong sales this year.
