BOSTON--(BUSINESS WIRE)--Jenzabar, Inc., a leading technology innovator in higher education serving the new student, today announced that its human capital management (HCM) and finance systems were the most-selected solutions by private, not-for-profit institutions in 2022, according to Tambellini Group’s 2023 annual report on finance and HCM systems. The private, not-for-profit sector makes up more than 40% of the U.S. higher education market and was the most active sector in purchasing new HCM and finance systems in 2022, accounting for 51% of selections for the year, the report noted.
“In 2022, selections for HCM and finance solutions were driven by the need for modern solutions that support innovation and seamless operations,” said Vicki Tambellini, Tambellini Group’s CEO and Founder. “We believe the trend for selecting a single vendor that brings together core HCM, finance, and student systems will continue, especially as colleges and universities face tightening budgets and pressure to provide more seamless and efficient user experiences for their communities.”
Jenzabar’s HCM and finance systems help institutions accelerate innovation and growth by uniting traditionally disparate systems across campus, eliminating data silos, and enabling data-informed decision-making. According to Tambellini Group’s 2023 Finance and HCM Systems US Higher Education Market Share, Trends and Leaders report, 2022 selections for Jenzabar’s finance and HCM solutions increased 25% over the previous year. This uptick in selections underscores higher education’s trust in Jenzabar as a steadfast partner and provider of innovative solutions designed specifically for colleges and universities.
Modern finance and HCM systems play a pivotal role in higher education institutions’ day-to-day operations, and the report also noted that the higher education market continues to see increased single-vendor selections, where finance, HCM, and student systems are purchased from a single solutions provider.
“While having a robust student system is critical for institutions, colleges and universities also need modern solutions that support personnel and staff, as well as a platform that can keep the back office running smoothly. In an increasingly digital and connected environment, synchronizations and integrations between these three systems improve operational efficiency and ensure institutions stay competitive,” said Ling Chai, Founder, CEO, and President of Jenzabar. “We remain committed to delivering cutting-edge solutions built for higher education, and we are incredibly proud that institutions continue to put their trust in Jenzabar’s finance, HCM, and student systems.”
- To learn about Jenzabar’s HCM solution, visit: https://jenzabar.com/product/hcm
- To learn about Jenzabar’s finance solution, visit: https://jenzabar.com/product/finance
- To learn about Jenzabar One, visit: https://jenzabar.com/jenzabar-one
Created out of a passion for education and a vision for technology, Jenzabar offers disruptive, innovative software solutions and services that empower students’ success and help higher education institutions meet the demands of the modern student. Over 1,350 higher educational campuses harness Jenzabar solutions for improved performance across campus and a more personalized and connected experience for the student. For further information, please visit www.jenzabar.com or on Twitter @Jenzabar or on LinkedIn.