About Tidemark Budgeting
What Is Tidemark?
The Tidemark budget management tool integrates salary and non-salary expense budgeting with all the various funding sources in a live, multi-user, database-driven system that automatically interfaces with other administrative applications within the Stanford environment.
Tidemark allows access to accurate and timely information in support of budget planning and decision-making.
Process Driven Approach
Structured processes guide users logically through budgeting tasks. Both high level processes (example below) and steps within processes are mapped.
High-Level Map for Booked Budget Process
How Tidemark Supports Budget Units and the University
The Tidemark budget management tool supports budget units and the University Budget Office through each of the four phases of Stanford's annual budget cycle:
- Budget Proposal
- Budget Plan
- Booked Budget
- Year-End Variance Analysis
System Efficiencies
All components of the budget are planned, budgeted and reviewed in a single environment, eliminating the need to aggregate disparate unit actuals and budget plans.
Data Efficiencies
Before the introduction of Tidemark, data from various sources was manually fed into the Hyperion budgeting application. With Tidemark, foundational budgeting data is automatically fed into the application.
Time and Resource Efficiencies
While data calculations in Hyperion could take several minutes to hours (applying burden rates) up to as long as a day (seeding prior Fiscal Year data into upcoming year), Tidemark performs these calculations in seconds.
