Importance of Cash Forecasting
Both state-run and private colleges and universities generally deal with revenue collection only a few times a year, making forecasting and planning an integral part of the finance and treasury role to ensure the proper mix of cash and liquidity is properly allocated and available throughout the fiscal cycle.
Kyriba Enables Better Financial Management
Debt and Investments – Universities and colleges, in recent years, have invested heavily in infrastructure; related construction projects require visibility to manage a number of aspects of the related debt and cash flows to include not only payments, but proper management of other key components like debt covenants. Meanwhile, invest and move surplus funds into designated, policy-compliant investments through your custodians.
International Expansion – Whether for research projects or international campuses, visibility to international bank accounts and managing related cash flow is important.
Grants Transparency – Scrutiny and regulatory compliance around mandatory grant reporting is enabled through Kyriba’s dashboards
Fraud Management – Manage the risk associated with large-scale construction projects and other special supplier payments; combat these issues with Kyriba’s Fraud Detection using predictive and machine learning to identify payment risks before execution.