Activity-Based Costing
Analyse cost and contribution in the detail you need.
Simitive's Activity-Based Costing (ABC) has a unique processing function that enables analysis of cost and contribution at a level of detail not previously possible - essential for informing the planning and management of financial stability and growth.
01
Start small and grow
ABC supports incremental approaches to costing, starting with TRAC/FEC and progressing through greater levels of detail as time and available data permit.
- Start simple and grow as required.
- University or faculties, schools, departments.
- Staff costs, staff and non-staff, or full costs.
- Income and expenditure at organisation or down to course and module levels.
02
Multiple versions and comparisons
ABC supports the creation of multiple versions of a year, allowing easy comparison of different approaches or models.
Version comparison
Side-by-side comparison of up to three versions.
Peer group comparison
Comparison against peer groups for TRAC.
Income & expenditure
Comparison for income and expenditure.
Course contribution
Course contribution comparison.
Level-based comparison
Comparison at university, school, department or course level.
School & course comparison
Compare schools and courses against each other.
03
Audit
ABC provides a full suite of audit tools and validation to ensure accuracy and trust.
- Validation at every stage from import through processing and post-processing.
- Easy visualisation of routing for income and expenditure pre-processing.
- Detailed routing visualisation post-processing.
- Suite of audit-specific reports.
04
Course and module contribution
ABC provides easy visualisation of contributions by courses and modules.
- Identify course and module ranking by contribution.
- Easily see full income and expenditure details for courses and modules.
- See fully detailed routing for all income and expenditure for each course and module.
- Compare courses, course instances and student types within a year or across years.
05
Student cost and contribution
ABC provides detailed analysis of contribution by student across the institution.
- Identification of income and expenditure associated with each type of student.
- Analysis at university or any other part of the university.
- Easy comparison of student-type contribution by schools and departments.
- Cost-per-student analysis by school, module credit and module level.
06
TRAC/FEC reporting
ABC enables the completion of TRAC/FEC returns compliant with regulatory standards.
- Fully compliant return creation.
- Multiple version comparison before submission.
- Graphical and tabular views.
- Analysis at university, school and department levels.
07
Cost and contribution analysis
ABC allows the easy visualisation of costs, income and contribution at every level of the institution.
- Income, expenditure and resultant contribution visible at every level.
- Easy comparison of faculties, schools and departments.
- Drill down from university through to activities and courses.
- Compare teaching and research across schools and departments.
In their words
What universities tell us about ABC.
We present our outputs to our senior staff and oversight groups and produce analytics and graphs which help with internal decision-making and flexibility.
We can compare different periods and versions, and then change the different variables and analyse them. The potential is huge.
We chose Simitive because they could meet our requirements, their service is professional, and the system is structured and future-proofed.
The product is helping to facilitate conversations to see how we structure things and ensures we are set up in the most effective and efficient way.
Implementation
Get up and running with confidence.
Implementation and support
Whatever stage you are at and whatever challenges you face, the Simitive team is available to help - either by implementing it for you, or by providing TRAC as a Service and Costing as a Service where the Simitive team administer and manage the system, up to and including creating your TRAC return.
Cost and TRAC comparison reporting
If you aren't yet ready for the system or the system as a service, the Simitive team can carry out analysis for you, comparing TRAC or costing, and provide a report detailing the key points of comparison and analysis.
Part of the ecosystem