Role of ERP in Management of Higher Education Financing

Despite all the talk about new economy, higher education institutions still live by the old rules. Budgets are lean, yet agile enough to reflect changing requirements. With these realities, higher education institutions need proven solutions, the kind that only an ERP solution that integrates all financial processes: funds, financial accounting and managerial accounting can offer. The Ministry of Science, Education and Sports of the Republic of Croatia was implementing an integrated financial information system of 6 universities based on lump-sum principles and supported by SAP ERP solution. Some experiences regarding this project are presented in the paper.