As mentioned above, CBORD is primarily a campus-oriented back-end system for student records, payments, and a host of other things -- in the same vein as Blackboard and Banner.
Some universities get sold on one of these solutions, and I've yet to speak with a single one yet (and I've spoken to dozens that have it) that doesn't regret it and regularly look for ways out of it.
The reality is that it's NOT an enterprise-level access control system, so for any sizable or growing university, it's typically a bad deal for them.
The main thing to remember is that there are multiple systems that can integrate seamlessly with the CBORD/Banner-type systems to make credential management, tie-ins with the physical credential (i.e. student ID being used for both access control and payments), and the back-end administrative piece much simpler.
In my personal opinion, there is a never a valid reason to go with one of these types of systems other than cost. Go with an actual access control platform that can integrate with these systems (Lenel and Software House, to name a few) and you'll be much better off at the end of the day.
There are a dozen other options you can propose other than CBORD that will be much better and likely cost-competitive to what CBORD is offering when you actually compare features.