Bond makes smart decisions with Cognos Express and TM1

 

The Challenge

Bond needed to enhance the university’s ability to analyse and report on data to make accurate, timely and informed business decisions in setting and achieving key strategic and operational goals. At the time many decisions were arrived at after manual, time consuming, and non-collaborative processes were run to obtain key data across multiple enterprise system sources. “There was a lot of SQL data analysis but we couldn’t pull it easily into one report,” said Sue Davis, Director of Finance, Financial Services, Bond University.  Bond identified at the time that they needed to find a way to significantly improve their ability to:

  • develop an integrated student enrolment and revenue model that captured extensive data on new enrolled students, integrated into the continuing pipeline of students at EFTS level with full revenue implications disbursed into a budgeting model

  • allow extensive analytical reporting over enrolled student data for strategic marketing purposes
  • develop an integrated budget model incorporating the student enrolment model into revenue, a human resource model that allowed FTE analysis by employment status that integrated into an operational expense model and inclusion of capital expenditure
  • reduce preparation time of annual budgets by allowing the functionality of faculty and departmental data entry sheets collating simultaneously into one new central system with new reporting capability with a further two-year outlook
  • allow what-if and sensitivity analysis over budgeting and forecasting information
  • provide accurate semesterly forecasting, cost analysis and management of expenses
  • have a governance framework around critical data that provided a disciplined approach to consistency in reporting, i.e. one version of truth.

Managing the student enrolment model, load forecasting, cost management and understanding the financial implications at Bond was at times very manual and labour intensive.  The processes were slow, difficult to change and difficult to integrate end to end and placed heavy burdens on individuals to manage and maintain. Bond needed a solution that provided one principal source of information and could provide accurate and timely data to support and drive decision making, strategy and improvement for the university as a whole and within the faculties and operational departments.

 

 


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