With technology specifically designed to model and forecast all aspects of a college or university, Allitix makes it easier than ever for higher education decision-makers to plan for the future.
The COVID-19 pandemic changed a lot for higher education. And while we’re not likely to see another global pandemic that shuts down nearly all facets of society for a year or more, it stressed the importance of being prepared and ready to adapt.
With a solution that allows you to manage, model, and forecast multiple facets of a university on one platform, Allitix gives you the ability to lead your university now while preparing for what lies ahead.
“We provide solutions to higher education institutions so they can be prepared for not just the ‘where are we now?’ and ‘how did we get here?’” said Kim Fisher, higher education practice director for Allitix, “but also the ‘where might we be going?’ and ‘how can we be better prepared?’ if and when we get to that place.”
An example is how Allitix can help monitor your endowment: “With an endowment, there are the donors and donations, then there’s the investment side where interest is being earned,” Fisher said. “Based on those funds, students are awarded scholarships based on their merit, but the money isn’t actually distributed to students’ accounts until certain criteria are met and at a specific point in the term. There are all these layers of complexity that come with managing an endowment, and our solution can help not only manage it for what’s happening today but also model scenarios for how those funds might grow or be used for future students.”
The business end
Allitix can help you manage the business side of your institution as well.
“Long-range planning and budget development are areas where we’ve been helping colleges and universities for years. Whether a small or large institution, or even a university system, this is has been, and will continue to be, a critical use case when it comes to planning. But when you combine financial planning with planning for tuition, endowments, or financial aid, that’s where you start to see the power of the platform!”
Whatever comes next
Over the past year, we’ve seen just how valuable it is to be able to model and understand all the nuances of your university or college, then have the ability to make adjustments to the model at a moment’s notice. With a modern approach to university planning, Allitix can help you do just that.
“What other technologies miss is the ability to apply assumptions and projections to model out what might happen. Frequently data or analytics solutions look only to the past to understand what happened and aren’t looking forward using both data and assumptions,” Fisher said. “Without this capability, college and university leaders aren’t able to leverage fully built-out, data-based projections or scenarios on which to base their decisions.”
“Additionally, data doesn’t usually account for culture, but it’s a critical aspect of every institution,” Fisher said. “You have to have a way to incorporate that into technology by applying institution-specific assumptions and overrides within the various scenarios you’re building out.”
By offering the tools to oversee and manage multiple facets of a university in one place, Allitix empowers higher education decision-makers to prepare for whatever lies ahead.
“We’re never going to be prepared for something like a pandemic, but it stressed the need to pivot quickly, and do it in an educated and prepared fashion,” Fisher said. “And we can execute best by using technology to our benefit.”