Rulings and Agreements Chapter
Which of these ideas could your institution implement tomorrow, next semester, or next year to do the same? Take a new look at the purchasing department.
Consolidating purchasing and accounts payable, as the University of Delaware has done, is another way to realize savings. Daily updates from the card issuer are fed directly into the financials database for near real-time cost control.
Benefits include less paperwork, reduction of cash exposure, faster processing time, and consolidated invoicing, which saves time, stationery, checks, postage, and filing costs. While the architectural firm prepared the bid document, everything else-order placement, delivery coordination, installation, final inspection-was handled internally at a savings of several thousands of dollars.
As a bonus, the coordination and communication between the school, contractor, and vendors was better because they worked with each other directly.
Hamilton plans to replicate the procedure for its latest building project.
Join a purchasing consortium. The Wisconsin Association of Independent Colleges and Universities has a dedicated staff that does the research, finds the vendors, and handles the bidding for its members. Nix hard-copy billing processes. Indiana University-Purdue University Fort Wayne contracted with TouchNet Information Systems, a software provider of automated payment solutions, to switch to e-billing for tuition payments.
Additional savings came from being able to reduce temporary staff help during peak times. This helps offset the cost of offering credit card payment options.
Eliminate the paper trail. Maryville University in St. Louis saves money and trees by not printing things that can be as easily referenced online.
Gone are the days of paper course registration, and of printing schedules and grades. Now, all this work is done electronically. Invest in document management. Chapman University needed a reliable document management solution on a small scale.
After realizing efficiencies and cost savings with a product from ImageNow, the school expanded the program to all its campuses located throughout California and Washington. The solution was quickly and cost-effectively expanded across various host applications and leveraged to meet a number of departmental needs.
Get a handle on printing. What makes costs grow exponentially, however, is the number of wasteful or nonacademic print jobs-from photos of pop stars and friends to entire books-that should never be printed or could be copied more economically.Digging out new revenue streams and discovering "Why didn't we think of this before?" ways to save can make all the difference as higher education leaders work to ensure they can keep investing in their core business of educating students.
RMIT is a global university of technology and design and Australia's largest tertiary institution. Apr 30, · Which colleges have the highest return on investment? Here's an alternative measure.
The University of Alberta is a Top 5 Canadian university located in Edmonton, Alberta, and home to 40, students in a wide variety of programs.
Up-to-date reporting on the college admissions opportunities and financial aid issues that affect millions of high school students and their parents each admissions season. Ben, great job de-bunking a widely accepted myth.
In any case, the financial question about college sports is a red herring. The central issue is this: College is for scholarship, not for a bunch of morons scampering around on the football field, and thousands of idiots screaming themselves hoarse in .