Higher Education institutions need to optimize systems to secure a sustainable future

With decreased funding across the globe, reduced student mobility, and increased urgency to cut costs and empower staff, the task of securing the financial stability of a Higher Education institution is becoming tougher each day.

In the UK, PwC reports that “Grant funding has remained flat and research contracts are competitive, with alternative commercial revenue streams interrupted during COVID-19” adding, “The sector is facing increasing pressure on costs, with limited ability to recoup through tuition fees.”

In the UK the Institute for Fiscal Studies (IFS) has said the real value of spending per student in England has fallen by 18% since 2012.

The Office for Students (OfS) has warned lower-than-expected international student recruitment could threaten the financial sustainability of some providers in England. Tuition fees from international students was worth £11.8 billion to UK universities, according to HESA. However following restrictions on student visas, international student enrolments fell in January 2024 compared with the year before.

Comparatively, in both the Netherlands and Sweden universities the tuition fees have remained low, but funding has been steadily increasing with government remaining the largest source of income.

In a recent report, Deloitte concurs, “To fulfill this mission [delivering student value] today and in the future, institutions must be willing to challenge the status quo, take risks, and innovate. This is a call to action for universities to seize control of their future.”

In this eBook, we will cover the trends affecting Higher Education institutions today, explore the capabilities that institutions are seeking out to reimagine their back-office operations, and how Unit4 ERP Higher Education institutions are making an immediate impact on their financial effectiveness and are able to plan for the future.