Increased budget accuracy and better structure of the risk work when Lund University selects Hypergene

For Lund University, one of Europe's leading universities, the budget and forecasting work has considerably improved since Hypergene was introduced. Among other things, the whole organization now follows a common work process using the same definitions of different concepts.

Challenge

  • The need for a budget and forecasting process to raise quality in budget and forecasts 
  • To gain control over risk management in order to work more proactively

Solution

  • Hypergene’s solutions for budget and forecasts, analysis and follow-up, risk analysis and performance reporting

Result:

  • A more transparent budget process, increased cooperation between economists, and safer forecasts 
  • A structured work for risk analyses with the possibility of follow-up and analysis

Challenge

Lund University is one of Europe's leading universities within higher education and research in the fields of technology, science, law, social sciences, economics, medicine, humanities, theology, art, music and theatre. The organization comprises 40,000 students and over 7,400 employees, where the largest part of operations is within research. The organization is divided into eight faculties with a large number of underlying institutions and departments. Administration and services are managed jointly, while at the various departments, a couple of hundred economists are involved in the economic work.

The challenges that Lund University was facing also exist at other universities and colleges. Above all, there was a need to improve the budget process to make it uniform and efficient, and to increase the quality of budgets and forecasts. Previously, Excel was primarily used for the budget process in a non-transparent and labor intensive manner. Gradually, the university requested a coherent risk analysis tool in order to get better overview and follow-up on risk management as well as to facilitate and systematize analysis and documentation. 

Solution

In addition to the need for better support for budgeting and forecasting, there were requests for analysis tools. In their quest to find and evaluate suitable suppliers, Lund University reached out to CGI.

"We were helped to sift the market and find out which system solutions met our requirements. Three different solutions were presented, one of which fell away early on. Finally, Hypergene was selected."

Today, the solution has over 300 users, mostly economists at the different units.

A few years after the introduction of annual budget reporting in Hypergene, support for multi-annual budgeting of projects was also added.

Hypergene was selected as the risk management tool. In concrete terms, risk management defines a number of risks to be evaluated, puts measures in place and follows up on them (so-called objects). The risks are valued on the basis of probability and consequence on a scale of 1-5.

The new Performance Reporting functionality was implemented over the course of 2018.

 "Performance Reporting is a very exciting product and is fully in line with the automation and quality enhancement in the reporting process that the university is striving for."

Results

For budget and forecasting work, the introduction of Hypergene has meant that the entire organization now uses a common process with the same definitions of different concepts.

"Having a standardized process facilitates our conversations. Today, different data can be better compared and monitored," says Helena Jönsson, economist and system manager at LU.

The university has also received the quality enhancement and automation it was striving for.

Through the project functionality, economists can also offer support to project managers in the calculation process for grant applications, and once funds are granted, enter their multi-annual budgets into Hypergene.

For risk management, Hypergene’s system has offered improved overview and control. Examples of risks and challenges that are unique to a college or university include how the dependence on external funding affects its operation, or how the application volume from students impacts course offerings. Some of these risks live on for many years, while other risks can more easily be addressed and eliminated. With Hypergene, you can both create an analysis from a risk perspective, i.e. observe what "risk X" looks like for all faculties, and from an organizational perspective, which highlights the risk situation of an individual faculty. The result can be presented both in the form of tables and diagrams or in a simple to understand risk matrix.

And the longer you work with risk management and the more years of data you have to compare with, the more interesting it will be to follow trends and actions on risks that run across many years.

"With Hypergene, we have a completely different control and overview of our risks and we feel confident that we can work proactively to minimize the risks and challenges we face," says Elisabeth Pupp, who works with the risk process at Lund University.

"Performance Reporting has provided us with good preconditions for quality enhancement in our various reporting. Instead of using time to pull up numbers according to separate instructions, those who are going to create the reports can focus on the analysis itself. We look forward to all the developments that are taking place in that module and to using it in even more automatic reporting flows that are currently manual," says Helena Jönsson.