05/04/21 Colleges and universities are investing in both finance and human capital management (HCM) systems at an increasing rate, according to a new report from the Tambellini Group, a technology research and advisory firm focused on higher education. The growth in spending more than doubled in 2020 from the previous year, rising by 40 percent in finance and 45 percent in HCM. In comparison, the year 2019 saw spending on those systems grow by 20 percent and 17 percent, respectively, in 2019. Among those institutions deploying new finance and HCM systems, 90 percent opted for cloud-based solutions. And 65 percent of those institutions chose Oracle or Workday as their system provider, according to the report.