The COVID-19 pandemic has placed tremendous pressure on colleges and universities, leaving many campuses to face acute financial challenges. According to a recent report from McKinsey, the percentage of institutions with budget shortfalls of more than 5% will increase to more than 50%—and for private four-year colleges, that percentage can rise to as high as 77%.
Across-the-board budget cuts may stopgap challenges but won’t necessarily ensure a sustainable future. Now may be the time to invest in an operational framework that goes beyond traditional manual accounting processes. Automation can free up time for analysis and decision-making as well as improve transparency and balance sheet integrity.
During this On-Demand, our panel of experts will cover:
Challenges and bottlenecks in traditional manual close processes
Strategies for automating and streamlining critical close activities
Forward-looking plans for guiding institutions toward an improved future
Join us to learn what campus experts are doing to automate and improve accounting close processes and how similar strategies can drive financial and accounting sustainability on your campus.