Oracle has deployed an enterprise performance management tool at the University of Virginia as the academic institution looks to migrate its financial functions into a new technology platform.
The public research university selected Oracle Hyperion Profitability and Cost Management, which has tools designed to provide transparency and insights into budget, acquisition, cost and profitability data, Oracle said Tuesday.
UVA intends for the Oracle product's rapid allocation modeling and multi-dimensional scenario analysis functions to support the university’s transition away from having a spreadsheet-based system.
Melody Bianchetto, associate vice president for finance at UVA, said the university will work to extract financial data from the EPM tool in order to make decisions and launch initiatives.
The university also aims to evaluate the financial statuses of individual schools, programs, degrees and courses.