As the pressure on schools to maximise their budgets and reduce expenditure continues, the need to apply a sharp focus on financial performance has never been greater.
The rise of academies and multi-academy trusts (MATs) has further intensified this need for tight control on finances, with schools looking to manage their finances efficiently and effectively.
A new financial solution
In our work with schools and academies, we regularly receive feedback for the desire to consolidate data and present the most essential elements in a way that reduces confusion and provides clarity.
It’s not enough to present rows of data without a way of translating the language of numbers into something that can be interpreted easily – meaning that visual, intuitive and customisable representations are the way forward.
We’re of the opinion that when presenting financial data to key stakeholders for informed decisions, keeping everything clear and straightforward is the best approach, which is why we’re delighted to introduce SIMS Finance.
At the heart of better budgeting
The main aim of SIMS Finance is to help academies and MATs achieve greater operational efficiency by providing them with greater control of their financial management.
Whether your organisation is one or multiple academies SIMS Finance sits right at the centre, pulling data in from all required sources and providing a concise and consolidated view.
Customisable dashboards and shortcuts to frequently used reports and tasks mean finance and business managers can quickly identify areas for improvement, while also analysing budgets, cost centres and even accessing individual invoices.
With the capability to take the whole purchase ledger procedure online, SIMS Finance gives schools the ability to make their financial authorisation process much smoother, replicating paper processes in a friction-free, digital environment.
Built to feel like an accounting tool
SIMS Finance benefits from having been designed with the support of academies and their leadership teams to create a solution stripped of complexity, yet focused on the best possible user experience. We understand that all academies and groups have their own unique needs, so we’ve designed SIMS Finance to be flexible, customisable and fully tailored to your requirements.
Like any other small, medium or growing business, academies lie at the centre of a complex network of suppliers and customers: IT infrastructure and maintenance, facilities management and capital expenditure, teaching equipment and text books – not to mention staff, recruitment and training costs – all come together to create a complicated web of incomings and outgoings.
By taking a high-level overview of financial performance across academies and MATs, finance managers will have more opportunities than ever to identify and capitalise on powerful economies of scale.
The future with SIMS Finance
By integrating with data already held in SIMS, senior leaders and business managers will be able to calculate their staffing costs for the whole trust and be able to drill down to details for staff by type and with appropriate authority individuals can cross-reference against proposed costs to stay on track and within budget.
And thanks to being a fully cloud-based solution, SIMS Finance provides you with access to your finances anytime, anywhere, without the need to worry about backups or upgrades. You can even create automated reports for stakeholders in your MAT group and deliver them the details they need via email at a time to suit them best.
Find out more about SIMS Finance by visiting our dedicated product page or call 0800 170 1736 – register your interest to receive the latest news and be kept up to date with any developments.