When it comes to technology, finance leaders in the higher education sector are worried they’re not making the grade. Last year’s Inside Higher Education survey found significant challenges in getting the right data to make well-informed decisions.
Among the 415 chief business officers (CBOs) and senior finance officers who responded, less than half (49%) said that their institution makes efficient use of technology resources and services. Their biggest beef: CBOs have too much trouble finding, extracting and reconciling the data they need to make informed operational decisions. At most institutions, more time is spent gathering data than analyzing it for opportunities.
62% of CBOs agree that greater transparency will lead to better financial decisions. The appetite for this transparency—across finance, HR and student services—is driving more university business officers to look to the cloud. Beyond the cost savings the cloud provides, CBOs are looking for deeper reporting and analytical capabilities, improved financial management, and a better student experience.
Next week in Austin, Texas, the National Association of College and University Business Officers (NACUBO) will be holding its annual meeting, July 13-16. For university business officers attending, this is a great opportunity to learn new strategies and practices from your peers. As shrinking budgets, smaller class offerings, and increasing tuition become the new normal, it’s time to embrace change.
Austin is an ideal location for NACUBO 2019. It’s a up-and-coming tech hub attracting top companies like Oracle to cutting-edge offices. Attendees will be incredibly close to the Statesman Bat Observation Center where they can catch a glimpse of the famous bats at sunset. Also surrounded by some of the best BBQ in the nation, Franklin’s BBQ is a 5 minute Uber or Lyft ride away—just remember to get there early.
Please stop by the Oracle booth, #500, to learn how Oracle Student Cloud can help provide you the freedom to innovate, through streamlining the back-office and improving the student experience.