Cheltenham

Higher Education CPM Solutions

Account-Ability works with over 50 Higher Education institutions developing a range of corporate performance management (CPM) solutions. The higher education CPM solutions can be divided into a number of primary standalone or integrated solutions. For many of these CPM solutions Account-Ability has developed standard models that can be implemented as rapidly as 6 days.

Higher Education CPM solutions

  • Management Accounts – Cost center budgeting, planning and reporting
  • Balance sheet and Cash flow planning
  • Student Number and Income Planning
  • Staff Planning
  • TRAC
  • course Costing
  • Research Project planning (pre and post award)
  • Strategic Planning

Management Accounts – Cost Center Budgeting

Most universities produce all budgets in excel work books. The budget cycle often takes 3-6 months to complete. It is very resource intensive with accountants producing budget templates for schools and departments to complete. The budget templates are sent out for the budget holders to complete. Once submitted further work is done to aggregate to 100s of templates together to form the total budget. During the review process if the changes need to be made the consolidation work has to be carried out again.

With Corporate Planner a Corporate Performance Management system this labour intensive process is massively simplified:

  • The university budgeting and reporting structure is held in a SQL database.
  • The application reads directly from the accounting system to read historic data.
  • Non financial statistics can also be included, staff, students, research space etc.
  • Standard budget report templates are created
  • Budgets can be entered using the CP client, web browser, smart phone or excel add-in
  • Data automatically consolidates
  • Users can budget at any hierarchy level
  • Full user role and access rights restrict access to scenarios and data
  • Multiple scenarios can created and compared
  • Progress can be monitored with an in built workflow
  • Process massively simplified to allow time for monthly and quarterly re-forecasts
  • The model not only aids the budget cycle but provides a complete Corporate Performance Management tool for monthly reporting

A budget model can be implemented in as little as 8 days seeing a rapid ROI For a demonstration please Contact us for more information

TRAC

Corporate Planner is used by over 40 higher education institutions for completing the Transparent Approach to Costing (TRAC) return. Account-Ability have had over 17 years experience helping institutions not only complete the statutory return but also provide a wealth of internal management information from the process. Almost all excel models we have replaced have had fundamental errors in the allocations are only discovered under close scrutiny see the problems with excel. In many cases the errors were from out of date guidance or inappropriate use of drivers. For the latest TRAC guidance please see the HEFCE website. The key advantages of a Corporate Planner TRAC model are:

Key Benefits:

  • Multi Year analysis
  • Multiple scenarios (e.g. this years costs last years TAS)
  • Detailed TRAC reports
  • Robust models known by auditors
  • departmental TRAC data that can be used for course costing
  • Multiple driver weightings allowing flexible allocations of services
  • TRAC returns take 1-2 days to create
  • Departmental restructures can be implemented rapidly
Standard reporting output includes

  • TRAC & TRAC T returns
  • Contribution reports
  • Driver Analysis
  • Cost Rate Analysis
  • Departmental Activity comparisons

Account-Ability has developed a standard TRAC model. This can be implemented at institutions within 6 days. For a demonstration please Contact us for more information