The Millennium FAST (Fast Administrative Support Tools) Suite is a pre-built administrative software solution developed for the Higher Education market. FAST is a secure, web-based and easy to implement solution that integrates with major ERP systems such as Ellucian Banner and Colleague, Oracle PeopleSoft and other ERP Systems.
Millennium’s FAST Finance Reporting provides decentralized self service financial reporting for all account holders, allowing fully supported, drill down access to all accounts for that user. Reports include relevant, timely information for actuals, commitments and budgets, showing where money is being spent and how it compares to approved budget amounts.
Millennium’s FAST Student Reporting provides self-service reporting for key stakeholders including Strategic Enrollment Management, the Registrar’s Office, Academic Affairs, and Student Affairs. Student users can monitor important aspects of student activities such as the admissions funnel, registration trends, course planning, retention and graduation rates, academic history and grades, student advising reports, and more.
Millennium’s FAST Human Resource Reporting provides decentralized Human Resource reporting to track and manage all aspects of staffing including staff hires, jobs, faculty, leave, payroll and terminations. It also offers self-service departmental reporting by roles including class, employer codes and departments. Many reports offer comparison data tracking to monitor HR trends like hiring rates, salary scale, and more.
Millennium’s FAST Financial Aid reporting solution provides financial aid professionals with accurate and timely data. Pre-defined reports and dashboards make getting started easy and are customizable to accommodate any information needed including aid awarded and accepted, discount rates, and FAFSA filing information.
Millennium’s FAST Budget and Forecasting application allows for both centralized and decentralized Budget development, Position management and Forecasting. This enables departments to view and edit numerous budget scenarios, forecasts and multiyear plans for their areas. It allows for detailed entry of dollars and FTE information, and can track down to the employee and position level. There are numerous automation features to enable accurate and quick entry such as decentralized Budget Transfers, integration to your Human Resources ERP system, excel import features and various data entry options.
FAST Web Requisitioning enables web based, decentralized creation of web requisitions on a single page. It allows for an unlimited number of commodities for each requisition, document or commodity level accounting and the ability to attach supporting electronic documents. The requisition can then be sent for approval by the necessary stakeholders, informing them via email of an approval and eventual completion. The requisition could also be sent to a department such as Printing Services for work to be completed and an internal charge back created, and sent to the FAST Journal Voucher Application.
The FAST Accounts Receivable application is a fully functioning non-tuition Accounts Receivable sub ledger. It features the ability to create invoices, age invoices, record payments and manage bad debt. It also allows for creating invoices for sponsored students and the sub ledger integrates with your ERP finance modules.
FAST Journal Voucher allows for the decentralized creation of web based journal vouchers which can be sent in for approval from the necessary stakeholders. Each journal voucher allows for unlimited transactions to be entered or imported from Microsoft Excel and can be set up as a single one-time journal, a recurring journal based on dates provided, or a reversing journal for accruals at year end. Each journal can have electronic documents attached and all coding is validated against the user’s row level security. Once complete, the journal can be sent in for multiple electronic approvals, automatically creating email notifications for each approver. All approver history and comments are tracked and once approved, the journal is electronically submitted to your ERP system for final processing.
Millennium’s FAST Purchasing Card enables a daily bank feed of purchasing card charges to upload for end users to view, edit and split charges using their chart of account information based on row level security. Users can also import daily or monthly feeds from other external sources such as cell phone bills, electricity charge-backs and any other electronic feeds desired. Cards can be set up with department-level security and access, allowing managers to view multiple cards. The data integrates with FAST Finance and the ERP system allows for set up of the daily feeds as commitments, and they are then converted to actuals at the end of the month when the bill is paid.
FAST Research Administration consists of two modules. The first allows for the post award management of Research Grants and associated billing. Tracking of the Grants, assigning custom attributes such as Intellectual Property, Ownership of Assets, Signing Authorities etc, collection of Grant related budget data and customized rollups to meet the needs of third party reporting. FAST Research Admin will also facilitate the electronic or paper submission of FDSR and other agency reports and integrates with both the FAST Accounts Receivable application and your ERP Finance modules. The second part, My Research, provides simple easy to understand financial and administration information for Grant Holders.
100% web-based and platform independent. Accessible using current web browsers including Edge, Chrome and Safari.
No client software to install and maintain. Timely data is in the hands of people who need it, when they need it – and no printing required.
Remotely installed by Millennium, FAST can be installed and operational in a single day. It’s also easy to customize to fit the needs of your institution.
Installation, business rules, customizations, maintenance and support are all included in the purchase price and annual maintenance package.
Access the data you need when you need it.
Sound too good to be true? It’s not. Millennium FAST software makes it possible. We’ve been improving Higher Education Administration functions for over 20 years. Use our delivered reports, or build your own with our flexible toolkit. You’ll be up and running in days, not weeks or months!
Contact us for a no obligation live demo today, and see for yourself!
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