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July 2014

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University of Virginia Chooses Oracle Technology for Its Financial System Transformation

Faced with the dual goals of gaining a deeper understanding of its costs and achieving greater visibility into its fiscal performance, the University of Virginia is transforming its financial systems. To do this, the leading public research institution chose Oracle Hyperion Profitability and Cost Management as its new technology platform.

The project will upgrade a legacy spreadsheet-based system to modern technology that delivers the detailed financial information school officials need for strategic decision-making. University leaders determined that Oracle Hyperion Profitability and Cost Management would provide greater insights into costs and profitability across the institution.

"Our university is committed to providing students a world-class education," says Melody Bianchetto, associate vice president for finance at the university. "With Oracle Hyperion Performance and Cost Management, we will be able to gain accurate and timely insight into how we deploy our scarce resources, ensuring that leadership has critical financial data in hand to make critical strategic decisions and invest in the right initiatives."

The platform gives schools greater transparency into the root cause of costs and helps managers align budgets with priorities by examining details about the financial stability of individual schools, programs, degrees, and courses. Oracle Hyperion Profitability and Cost Management also offers rapid allocation modeling and multidimensional scenario analysis to ensure leaders clearly understand the true costs of new programs.

Additionally, the solution, which is designed to be easily used by deans, provosts, and others outside the financial services department, supports managers as they balance limited resources with top priorities across the campus.

Learn more about the University of Virginia's decision to adopt Oracle Hyperion Profitability and Cost Management.
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