Blog updated 16th December 2024
Digital transformation is not simply about adopting new technologies. It is also about embracing procedural change and streamlining processes to help institutions become more efficient, secure, and more responsive to the needs of stakeholders including students.
As a supplier of financial management systems to the education sector, we support digital transformation by facilitating procedural change. Here are some examples:
Automation replaces routine administrative tasks with more efficient systems for workflow and data transfer, enabling institutions to devote more time to value-add activities.
Dashboards and predictive analytics help institutions anticipate budgetary needs, optimise resource allocation, and improve monitoring of the financial impact of digital initiatives. This is crucial for improving cost-efficiency and identifying areas where digital transformation will have maximum impact.
The Procurement Act 2023 has led to a renewed focus on compliance. The LAKE solution for Education helps ensure compliance by standardising reporting, auditing, and compliance checks. Integrating National Procurement Policy Statement priorities such as social value and environmental responsibility can also enhance accountability and trust.
Colleges are looking for ways to optimise outcomes based on limited funding, especially when investing in new technologies. Financial management systems that can track, allocate, and report on the use of funds - from grants to donations - help demonstrate responsible use of resources and improve funding strategies. Transparent, accessible financial data can also help institutions present a clear case for additional funding.
Cloud-based financial management systems support hybrid or fully remote working environments. This flexibility is increasingly critical as schools and colleges continue to adapt to digital learning.
To find out how LAKE could help you on your digital transformation journey, download a copy of our Beginners Guide to SunSystems Cloud for Education. This guide is designed to aid your early decision-making process and includes:
by Jon Isherwood
Customer Success Manager
