Workday® for Higher Education
Why Workday?
The world of higher education is changing faster than ever! Are you keeping up? In response to educational reform, heightened competition, economic pressures, and other trends, colleges and universities are shifting how they support their faculty and staff, how they engage their students, and how they forecast for the future. Educational institutions, however, are unlike business or government ecosystems. More importantly, they are unlike each other, with every college and university presenting its own distinct challenges.
Workday is the preferred cloud ERP solution for the education industry, providing a set of trusted tools that are specifically designed for higher education and are flexible enough to meet any institution’s unique needs! In this blog post we’ll take a look at how Workday can help your institution support faculty and staff, engage students, and forecast for the future.
Faculty and Staff
With the recent shift to remote learning brought on by the pandemic, universities have had to pivot quickly in their approaches to supporting faculty and staff while ensuring data security and continuing critical operations. Unfortunately, most colleges use administrative systems that were built for a pre-internet generation; they are expensive to maintain, difficult to use, and too rigid to quickly adapt to change.
Workday, on the other hand, allows you to manage all your HR needs including recruiting, payroll, compensation, talent management, and benefits through their suite of applications like Workday Human Capital Management (HCM), Workday Payroll and Workforce Management, and Workday Talent Management. Using these tools, Workday customers have been able to onboard new employees and run payroll remotely, quickly create leave and absence codes to comply with new legislation, complete financial close and external audits virtually, and track all COVID-19-related expenses without requiring manual processes or spreadsheets.
Student Engagement
Managing higher education admissions, advising, records, financial aid, and student finance can be a challenge in the best of times, and even more so in the middle of a pandemic. Clunky legacy administrative systems and manual business processes can be difficult to use and tough to change, losing valuable time and money for your organization and hampering students from achieving their academic objectives.
Workday, on the other hand, integrates admissions, advising, records, financial aid, and student finance in one application: Workday Student. Workday’s intuitive interface looks and feels like your favorite websites and with active engagement tools, students can be kept updated with automated announcements, alerts, push notifications, and personalized action items to ensure a smooth pathway to graduation.
Forecasting for the Future
Many higher education institutions still use centralized data warehouses along with several third-party applications to source data across disparate security schemas. This process can be costly and time consuming, often delivering valuable insights far too late. Imagine, instead, if you could walk into a meeting with real-time analytical data at your fingertips. Workday can do just that!
Workday unifies student administration, financials, spend management, human capital management, payroll, grants, budgeting, planning, and analytics to bring your entire campus together under one agile, easy-to-use system. Workday applications like Workday Financial Management, Workday Grants Management, Workday Spend Management, Workday Enterprise Planning, and Workday Analytics and Reporting enable you to perform continuous financial and student enrollment “what-if” scenario modeling to better understand the health of campus operations and the academic performance of students. For instance, institutions can simulate the impact of international student enrollment on net tuition revenue and other potential impacts of the pandemic.
Get Started With Workday
Are you ready to take your enterprise resource planning (ERP) to the next level using Workday’s powerful suite of applications? Makse Group is here to help. Our lean teams of experienced Workday and finance professionals can help you plan for the future, solve pressing problems, or just get some support on a project. Makse Group’s unique focus on Workday and financial services perfectly positions us to address many common challenges in higher education, including:
Custom Validations
W2 & 1099 Reporting
Benefits
Project Management
Grants Management
Endowment Accounting
Cash Flow Management
Grant Spend Analytics
Procurement
Matrix Reporting
Composite Reporting
Expense Management
Take advantage of our Assess & Recommend, Strategic Roadmapping, Adoption Planning, and End-User Training services to ensure that your transition to Workday goes as smoothly as possible. Use our New Functionality, Workday Implementation, Data Conversion, and Reports & Analytics services to solve your unique challenges with proven solutions. Or utilize our Project Management, Staff Augmentation, Testing Support, and Release Management services to get support as you need it. To learn more about how Makse Group can save your organization time, money, and resources contact us today!
