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Financial Reporting Software

  • 1.  Financial Reporting Software

    Posted 10-30-2025 12:10 PM

    We're a private, not-for-profit research institution using Banner as our ERP. We're looking for recommendations on third-party financial reporting solutions (other than Excel) that peer universities use to produce real-time consolidated statements of financial position and statements of activities. What tools have you found effective?



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    Patrice Harris
    Director
    Nova Southeastern University
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  • 2.  RE: Financial Reporting Software

    Posted 10-31-2025 07:02 AM

    Stanford University uses Workiva



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    Karen Kearney
    Treasurer
    Stanford University
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    Original Message


  • 3.  RE: Financial Reporting Software

    Posted 11-11-2025 08:58 AM

    I hear that Workiva is a great product. What ERP system do you use with Workiva? Thanks!



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    Kristie Harris
    Vice President of Administration and Finance & CFO
    Piedmont University
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    Original Message


  • 4.  RE: Financial Reporting Software

    Posted 11-11-2025 09:20 AM

    We're an Oracle Financials shop (on prem, not yet fully Cloud).



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    Karen Kearney
    Treasurer
    Stanford University
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    Original Message


  • 5.  RE: Financial Reporting Software

    Posted 10-31-2025 08:15 AM

    We used Business Objects as our reporting tool when on Banner.



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    Sally Gazza
    Director of Accounting Services
    Saint Norbert College
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    Original Message


  • 6.  RE: Financial Reporting Software

    Posted 11-03-2025 09:27 AM

    Hello --

    Rutgers uses the Financial Consolidation and Closing Module in the Oracle EPM suite.  That is tied in with their Narrative Reporting module.  We will be using the same modules for internal management (non-GAAP) reporting.


    Mike Gower

    Chief Financial Officer & Treasurer

    Rutgers University



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    J. Michael Gower
    Chief Financial Officer and Treasurer
    Rutgers, The State University of New Jersey New Brunswick Campus
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    Original Message


  • 7.  RE: Financial Reporting Software

    Posted 11-04-2025 07:21 AM

    Patricia - Ramapo College is also a Banner ERP school, which we use to produce our reported financials, however we also use Adaptive Planning as our budget tool and also for interim P&L reporting. Adaptive received daily data feeds from Banner and I'd be happy to connect you with our Budget Team who could provide you with a more in-depth look at how we use it. Its very effective for us. 



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    Frank Di Pentima
    Assistant Vice President Business Services and Controller
    Ramapo College of New Jersey
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    Original Message


  • 8.  RE: Financial Reporting Software

    Posted 11-11-2025 09:00 AM

    Hi Patricia, I would love more information regarding Adaptive as well. At Piedmont University, we use Ellucian Colleague but I am interested in a budget software like Adaptive. Any information would be greatly appreciated. Thank you!



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    Kristie Harris
    Vice President of Administration and Finance & CFO
    Piedmont University
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    Original Message


  • 9.  RE: Financial Reporting Software

    Posted 11-04-2025 07:58 AM

    Miami was using Banner (and still is for some things) and switched to Workday July 2024. 



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    Christy Perry-Owens
    Administrative Assistant
    Miami University
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    Original Message


  • 10.  RE: Financial Reporting Software

    Posted 11-05-2025 08:39 AM

    Hi Christy,


    Oberlin is currently a Banner school and is considering other ERP options including Workday.  How do you like Workday for budget and planning?

    Angela



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    Angela Szunyogh
    Chief Business Officer
    Oberlin College
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    Original Message


  • 11.  RE: Financial Reporting Software

    Posted 11-05-2025 09:04 AM

    Hi Angela,

    I am a budget manager in one of the divisions at Miami, so I deal more with the transactional details than University planning. At first, Workday was challenging because it was very different from Banner. Now that we are over a year into it, there are definitely aspects in the reporting that I like better. I'm still struggling with year-to-year comparisons. The biggest thing that I've personally done to help is try to forget "this is how we did it in Banner" and fully immerse myself into the new system. But that is going to be true regardless of what ERP you go with!

    Best of luck! 



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    Christy Perry-Owens
    Administrative Assistant
    Miami University
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    Original Message


  • 12.  RE: Financial Reporting Software

    Posted 11-04-2025 09:00 AM

    We use Synoptix to do our reporting from Colleague.  It's an excel like report writer.  Once the report is written, you just run it over and over again.



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    Derrick Antwi
    AVP Business & Finance
    Capital University
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    Original Message


  • 13.  RE: Financial Reporting Software

    Posted 11-04-2025 10:19 AM

    Patrice,

    You may want to take a look at OneStream Software.  OneStream specializes in Financial Close, Consolidation, and Financial Reporting.  We integrate with Banner ERP and others like Workday, Oracle Fusion, PeopleSoft, etc.  You are able to produce real-time consolidated financial statements, AND your Annual Financial Report.  

    We have a webinar on Financial Close scheduled for Nov. 7.  If you can't make the date/time, you can register to receive a recording once the webinar is completed.

    Webinar Details: https://www.onestream.com/events/global-web-ld-financial-close-07nov2025/?utm_source=Sales&utm_medium=Sales_Outreach&utm_campaign=GLOBAL-NAPL-WEB-LD-Financial%20Close-07NOV2025

    Customer Testimonial from Angelo State University (Banner ERP): https://www.onestream.com/resources/asu-customer-testimonial/ 

    If you'd like a personalized demo for your university, please reach out directly at tweinstein@onestream.com

    Thanks,
    Todd

    PS. OneStream also provides budget and planning functionality for higher education.  This ensures financial reports are fully aligned to budgets on our unified platform.



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    Todd Weinstein
    Senior Account Director, Higher Ed
    OneStream Software LLC
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    Original Message


  • 14.  RE: Financial Reporting Software

    Posted 11-05-2025 11:20 AM

    Back in 2019, after becoming sufficiently frustrated with Banner as a reporting tool, we found Millennium FAST reporting and it has been nothing but great.  I liken it to a giant sandbox that enables you to report on anything and everything in whatever way you want.  We use it for everything from quarterly and year end financial statement builds to internal reporting to department-specific reporting.  It has made us so efficient that we are able to operate effectively with a very lean staff and continue to exceed expectations.  The team at Millennium loves their product and is always happy to work with us when we see opportunity to make the software even better.



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    Brandon Klassen
    Associate Controller for Financial Reporting and Analysis
    Idaho State University
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    Original Message


  • 15.  RE: Financial Reporting Software

    Posted 11-06-2025 08:21 AM
    Edited by Marian Marchiori 11-06-2025 08:22 AM

    Bucknell uses Workday and Adaptive for budgeting. Happy to answer any specific questions you might have.



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    Marian Marchiori
    Director, Business Operations - College of Engineering
    Bucknell University
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    Original Message


  • 16.  RE: Financial Reporting Software

    Posted 11-06-2025 08:54 AM

    We are a Colleague SAAS school and use Synoptix.  We did build out in BI Reporting as well, however the buildout took a long time.  Once build it was fine to update.  Synoptix is easy to use and statements can be pushed our quickly and scheduled to email out to users as well.  We set up some reporting for 990 and other internal functions as well.



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    Janet Edwards
    Controller
    Ashland University
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    Original Message


  • 17.  RE: Financial Reporting Software

    Posted 11-06-2025 11:28 AM

    We use Cognos to report on data from Banner.  Banner AR data is posted to the ERP (Oracle Financials) and then financial reports are run out of Oracle. 



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    Melissa Tessier
    Director of Student Billing and Cashiering
    University of California, Merced
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    Original Message


  • 18.  RE: Financial Reporting Software

    Posted 11-07-2025 08:57 AM
    Edited by John McGrath 11-07-2025 08:58 AM

    Hi Patrice, 

    When I was at Babson College, we used Workday Adaptive Planning for all our budgeting and reporting - including board decks, financial statements, program P&Ls, and any budget analysis.  I now focus on budgeting and reporting for Higher Education and recently spoke at the NACUBO Annual Conference and the NACUBO Planning, Budgeting, and Analysis conference about budgeting and AI.  I have some demo videos (3-5 min each) of how Workday Adaptive Planning can be used in higher ed - feel free to take a look at your convenience. These are hosted on my linkedin: https://www.linkedin.com/smart-links/AQEYkXLr7o_vMQ

    Reach out if you have any questions. 



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    John McGrath
    Director of Strategy & Innovation | Strada
    Former Budget Director in Higher Education
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    Original Message


  • 19.  RE: Financial Reporting Software

    Posted 11-11-2025 01:40 PM

    John -- We use Adaptive at Metropolitan State University in Denver and this video is really helpful and timely. Thanks for sharing.



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    Jim Carpenter
    CFO
    Metropolitan State University of Denver
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    Original Message


  • 20.  RE: Financial Reporting Software

    Posted 11-10-2025 12:03 PM

    H Patrice, Denison just went live with Workday on 07/01/25 and are using it for budgeting. We will be implementing Adaptive planning in the spring, so I will have more information on that soon. Up until the transition to workday we used Synario for financial statement forecasting and what if analysis. Feel free to email me if you would like to talk about any of this. 

    Cindy



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    Cynthia Buxton
    Budget Director
    Denison University
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    Original Message


  • 21.  RE: Financial Reporting Software

    Posted 11-11-2025 01:14 PM
    Edited by Andrea Phillips 11-11-2025 01:14 PM

    We are looking into Synario now.  Were you able to use it for mid-year forecasting? What information were you required to upload into the system?  We are concerned that the data from our system would require too much conversion to GASB to provide much use for mid-year forecasting.  We are currently using PeopleSoft



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    Andrea Phillips
    University Controller
    University of Southern Mississippi
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    Original Message


  • 22.  RE: Financial Reporting Software

    Posted 11-11-2025 08:17 AM

    We use Synoptix for financial report writing with our ERP, Jenzabar. Once the reports are set up, we can run them on a daily basis. 



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    Anne Ilcus
    Palm Beach Atlantic University
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    Original Message


  • 23.  RE: Financial Reporting Software

    Posted 11-11-2025 10:38 AM

    At MSU Denver we use Adaptive Planning for reporting in conjunction with Workday ERP.



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    Jim Carpenter
    CFO
    Metropolitan State University of Denver
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    Original Message


  • 24.  RE: Financial Reporting Software

    Posted 11-12-2025 02:15 AM
    Edited by Susan Wynn 11-12-2025 02:19 AM

    With regard to budget and planning-related reporting, I implemented and ran Workday Adaptive Planning enterprise-wide at Arizona State University in 2020, which came two years after the Workday Financials implementation.  It can work well depending on the data itself, the data model structures, and the integrations. Prior to this, we utilized SAP BusinessObjects Planning and Consolidation for a bit over a decade (of which I was reminded when Sally Gazza mentioned BO). 

    I also know a bit about the administration and implementation of the very flexible Anaplan for enterprise budget and planning in a Workday Financials shop. Regardless of product, it's all about the data structures and integrations.

    I am happy to connect and share experience if desired. 



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    Susan Wynn
    Faculty Associate (former enterprise budget system manager)
    Arizona State University
    Tempe, AZ
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    Original Message


  • 25.  RE: Financial Reporting Software

    Posted 11-12-2025 11:27 AM

    Good morning! At University of California, we also use Workiva to produce our consolidated financial statements, as well as some of our statements for our component units. We are an Oracle shop and have an Oracle-based consolidation tool, but for our annual reports we rely on Workiva.



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    Barbara Cevallos
    Associate Vice President and Systemwide Controller
    University of California Office of the President
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    Original Message


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