Higher Education
| Function: | Products: |
| Budgeting | IBM Planning Analytics |
Challenge
A private university with campuses throughout New York and New Jersey was doing revenue planning using an Excel-based spreadsheet. The spreadsheet contained many repetitive sheets, had very complex formulas and had some erroneous calculations built into the file.
Solution
Revelwood reviewed their existing model and helped convert it into a driver-based planning approach that used a combination of headcounts with various lookup tables. The model accommodated various review sources such as tuition and other fees, while also calculating contra accounts such as tuition and bad debt. Users planned by semester. We converted the results into calendar months, taking into consideration both calendar years and school years.
Results
This simplified approach allowed the client to easily load and update data into the model and then make modifications for what-if analyses.