Implementation of SAS Institute’s Financial Management Package at a Florida Community College
The challenge
The Community College hasthree campuses serving Ft. Lauderdale, Florida. The College was previously using complex financialsystem software developed by a community college consortium, and providedlittle reporting capabilities. Due toregulations from Floridaregarding permitted spending, as well as other significant reportingrequirements mandated by the state, financial statement preparation and state requiredreporting was taking significant time for the College to produce eachquarter. The College wanted to prepare thestate-required reports more rapidly, as well as obtaining more flexibility increating operational reports submitted from each to the campuses to the centraloffice.
The solution
RSM McGladrey’s CFO AdvisoryServices Group partnered with SAS Consulting to provide a flexible reportingsolution for the College. SAS and RSMMcGladrey met with the College personnel to understand requirements and developspecifications for the system. Using thefeatures of SAS Financial Management software, the College was able toimplement a solution which:
- Significantly reduced thetime (from days to minutes) required to create financial reports.
- Provided the means, througha web based portal, to make performance and status information available tocampuses on a timely basis.
- Allowed fast drill throughto base level accounts comprising larger balances when investigation isnecessary.
- Permitted reporting onbudget status and performance down to the academic department level.
- Provided the Collegemanagement with the ability to easily look at data in different views as theneed arises.
The results
RSM McGladrey’s CFO AdvisoryServices Group and SAS Consulting were able to demonstrate significantreporting gains. Information was morereadily available to people who need it outside of the finance department. Expected significant benefits included:
- Significantly faster andmore responsive financial reporting.
- Enhanced reporting anddrill-through capabilities for financial analysis and performance measurementto lower levels of the organization.
- Consolidated reporting foreach manager P&L.
- Information including keyperformance indicators disseminated quickly through a web portal.
- The ability to respond morequickly and accurately to Floridainformation requests.
