NYU Colleges and Business Units to Leverage Hyperion to Tie Financial Reporting and Budgeting to University Operations
To streamline its planning and budgeting processes throughout its academic, administrative and auxiliary units, New York University (NYU) announced plans to implement Hyperion System 9 from Hyperion (Nasdaq Global Select: HYSL), the global leader in Business Performance Management (BPM) software.
A longtime user of Hyperion Performance Suite software, NYU is migrating to Hyperion System 9 to extend its operational analysis to planning and budgeting functions. In doing so, NYU will gain more accurate insight into both its financial and operational data, enabling more reliable plans and forecasts, and more insightful analysis of ongoing operations.
With Hyperion System 9 Planning, NYUâ€™s financial analysts can leverage a centralized management system that provides an in-depth look at university operations and its related impact on financials by tightly integrating financial and operational planning models. NYU fiscal managers in central university offices, individual schools and business units will generate reports to keep university administrators current on the status of key business processes impacting every member of the NYU community. A combination of Hyperion System 9 modules will tap into the University Data Warehouse, which obtains information directly from NYUâ€™s Student Information System and various financial systems. With Hyperion System 9 BI+ Interactive Reporting, for instance, NYU staff members can access an intuitive and highly interactive interface to design their own dashboards, then quickly monitor their status by drilling down to the most relevant information.
â€œThe Hyperion System 9 BI+ platform will integrate the management, planning and modeling for various financial and business applications into a single, cohesive system,â€ said Andrew Walsh, senior director of Business Systems Integration, Reporting and Application Development at NYU. â€œMeanwhile, Hyperionâ€™s BI modules will ensure that all reports are drawn from the same consistent set of information, giving us a unified view of our financial and operational data whenever we need it. We are excited to take this next step with Hyperion â€“ an important technology partner of NYU and a company committed to meeting the needs of higher education.â€
ISA Consulting is assisting with the implementation of Hyperion System 9 Planning, which is expected to be completed by the start of NYUâ€™s next fiscal year.