Now, more than ever in higher education, it is important to not only understand the institution’s current position but to be able to plan for the future when it comes to enrollment and budgeting. This will really be a game changer for enrollment and budget scenario planning.
VICTORIA, British Columbia (PRWEB) December 16, 2020
Millennium Computer Systems, Ltd., a premier company in higher education reporting and data analytic software, announced Monday that their new enrollment forecasting (EFP) tool is available immediately for implementation. The EFP Tool has been in development for more than a year and has been much anticipated by current and prospective clients.
The EFP tool is a huge leap forward for finance executives, enrollment management teams, and academic leadership struggling to collaboratively plan and make data-informed decisions regarding enrollment and budget as well as effective course scheduling and faculty hiring. The announcement from Millennium serves as a boon to higher education leadership teams and front-of-the-house staff alike as the COVID-19 pandemic has added an additional layer of unpredictability to enrollment and budget forecasting. While the Millennium team began development of the EFP tool prior to the onset of the pandemic, it has never been more pertinent.
“Millennium is excited to offer our Enrollment Forecasting and Planning tool to current and future clients,” said Peter Bruynzeel, Vice President at Millennium Computer Systems, Ltd., “Now, more than ever in higher education, it is important to not only understand the institution’s current position but to be able to plan for the future when it comes to enrollment and budgeting. This will really be a game changer for enrollment and budget scenario planning.”
The Enrollment Forecasting and Planning tool is available as part of Millennium’s FAST software suite of data analytic reporting tools.
FAST Budget—Provides the ability to create multiple budget series to track revenue including tuition and expenses, “what if” scenario planning, approval workflow, and decentralized creation and approval of budget transfers.
FAST Student—Provides reporting on entire student life cycle from application to graduation including admissions, registration, academic history, retention, advising, tuition tracking, student records, and convocation.
FAST Finance—Provides relevant, timely information for actuals, commitments, and budgets, showing where money is being spent and how it compares to approved budget amounts.
FAST HR—Provides insight into employee and job-related information including current and historical details, new hires, and terminations. Allows HR teams to manage current and future workload, succession planning, and position management.
About the Enrollment Forecasting and Planning Tool
The Enrollment Forecasting and Planning tool allows colleges and universities to forecast revenue and expense projections using both granular and high-level scenarios. Additionally, higher education budget and enrollment teams can easily collaborate to forecast budget and enrollment scenarios for strategic planning and fiscal planning. The EFP Tool also provides efficient course planning based on current and expected enrollment, compensation, and tuition.
About Millennium Computer Systems, Ltd.
Millennium Computer Systems, Ltd. Provides reporting and analytics software for higher education institutions so they can have timely access and better insights into the data in their administrative software systems. Our FAST software offers pre-configured reporting for Finance, Budget and Forecasting, Human Resources, Student, and Financial Aid, along with Decentralized Journal Vouchers, Web Requisitions, and more. Over 45+ higher education clients in three countries have selected FAST as their administrative tool of choice. Learn more at http://www.mcsl.com.
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Erika Veth, Ed.D.
Client Development Specialist