Top 10 problems solved by Infor SunSystems Cloud in Education.
Problem #6: Accountability and Audit Trail Gaps
This is the sixth in our series of blogs highlighting ten of the most common challenges faced by finance teams in the education sector. In this blog, we highlight problems arising from accountability and audit trail gaps in education.
The challenge
For many in the education sector, the biggest risk they face is an inability to prove that the right process has been followed. When audit trails are incomplete and accountability is unclear, leaders cannot easily answer fundamental questions such as:
- Who approved this?
- Was policy followed?
- Was funding used correctly?
Strong audit trails provide the evidence needed to answer these questions confidently, which is why they are considered a cornerstone of good governance.
How do audit trail and accountability gaps occur?
Gaps occur when decision makers cannot easily view the full transaction history, as in the following examples:
- The use of emails for purchasing approval and budgetary control
Emails are usually inaccessible and the information they contain is unstructured
- Excel spreadsheets used for record keeping and reporting
Information stored in Excel can easily be changed, and there is no audit trail of changes
How SunSystems Cloud closes audit trail gaps in Education
SunSystems replaces standalone and manual systems with a fully integrated solution for accounting and financial control.
Complete Audit Trail
Every transaction can be traced back to who created it, who approved it, when changes were made and so on. This provides a clear chain of evidence for decision makers and stakeholders.
Workflow-Driven Approvals
Rather than relying on emails and spreadsheets, SunSystems supports structured approval workflows:
- Spending follows delegated authority rules
- Approval limits are enforced
- Segregation of duties is maintained
- Transaction history includes links to associated documents
Role-Based Security and Accountability
Many educational institutions operate across multiple campuses and departments. SunSystems Cloud enables finance teams to work remotely and collaborate seamlessly. It also allows organisations to retain central control while granting staff access only to information relevant to their role. This ensures clear accountability for budget holders, department heads, and finance teams.
Take the next step
These are just some of the ways that Infor SunSystems Cloud from LAKE could help your organisation. To find out more, please download a copy of our SunSystems Cloud Beginner’s Guide – Education. In the next blog in this series, we focus on strategic decision-making limitations.
By Jon Isherwood