Large Public Research University Gains Visibility into Cost Data to Inform Decision-Making with Oracle Hyperion Profitability and Cost Management
Redwood Shores, Calif. – April 1, 2014
Faced with increasing pressure to contain costs coupled with need to efficiently grow operations, public universities must be more creative and efficient in managing budgets. Yet with multiple campuses and departments, it’s often difficult to achieve actionable visibility into where and how budgets are being spent and how department heads can be empowered with the ability to make better-informed decisions in real-time. One of the top-ranked public research institutions in the country, the University of Virginia has selected Oracle Hyperion Profitability and Cost Management as the technology platform to support its financial transformation, which will provide a thorough understanding of its costs at a granular level and greater visibility into its financial performance.
Oracle today announced the University of Virginia, a leading public research university, has selected Oracle Hyperion Profitability and Cost Management to support its financial transformation project.
The institution identified that it needed to upgrade from its current spreadsheet-based system to a technology solution to provide improved information to support the leadership in its schools and departments. The University of Virginia has determined Oracle Hyperion Profitability and Cost Management would provide an ideal platform to provide greater insights into costs and profitability across the institution.
The platform will provide greater transparency into the root cause of costs at a more granular level, providing the capability to drill down into the financial stability of individual schools, programs, degrees and courses to ensure budgets align with priorities.
With the rapid allocation modeling and multi-dimensional scenario analysis capabilities from this solution, the university will gain a better understanding of the true costs associated with new programs, providing leadership with financial information to inform strategic decision-making.
Additionally, the easy-to-use solution will be accessible to key stakeholders such as deans and provosts, who will be able to leverage measurable information to align scarce resources towards strategic priorities across the campus.
“Our university is committed to providing students a world-class education. With Oracle Hyperion Performance and Cost Management, we will be able to gain accurate and timely insight into how we deploy our scarce resources, ensuring that leadership has critical financial data in hand to make critical strategic decisions and invest in the right initiatives,” said Melody Bianchetto, Associate Vice President for Finance, University of Virginia.