Large companies and manufacturers contain long used enterprise resource planning (ERP) solutions to manage resources and control budgets. Now, ERP is moving beyond the walls of those traditional markets. Among the new verticals for ERP is higher education.

Higher education may well be one of the final frontiers for ERP applications, and with good reason. Traditionally, colleges and universities are reluctant to try anything new, including technologies such as ERP. Despite this reluctance, it’s flattering clear that even higher education institutions need to begin making the move toward using ERP to stay competitive. Below are eight reasons ERP is essential in higher education in 2017 and beyond.

Insights and potential

In higher teaching, as it is with most other verticals, competition is tightening even as budgets are shrinking. ERP provides insights into how these institutions can better allocate budgets to ensure that they are performing in ways that outpace prospect. A few of the ways in which ERP will be necessary for this area are: 

  • Insight into how and when to expand educational offerings, including adding to curriculum and expanding e-learning capabilities; 
  • Resource management capabilities, including budgets, staff, and faculty; 
  • Improved decision-making capabilities resulting from a clearer view of available resources, increasing demand, and relevant competition; 
  • Improved power engagement, which ensures less faculty turnover and increased skills and knowledge levels; and 
  • Better records management across the institution for faculty, staff, and students that include fewer duplicates, mistakes, and missing records.

Student Success

Even more important than how the institution runs in the current educational climate is student success. It’s one thing to get students to campus. It’s a completely different undertaking to keep them there and to ensure that they complete their degree or certification program and become contributing members of society. An ERP solution can help institutions achieve higher student success rates by: 

  • Simplifying, streamlining, and automating student enrollment to reduce the amount of time it takes to coordinate enrollment as well as the cost of staffing the enrollment period;
  • Improving student guidance through monitoring and alerts to assist struggling students and better guide successful students; and 
  • Providing an integrated view of the student life cycle, from recruitment through graduation, to ensure that students takes the most direct path to their goals and receive the guidance necessary to achieve success, regardless of what obstacles may arise during their educational career.

Colleges and universities have long been among the last to the technology party, but where ERP is concerned, now is the time to act. As opposition increases and education methods change, ERP can help institutions become as agile and responsive as their corporate counterparts.