Helping Universities And Colleges To Realize Massive Savings
The purchase of goods and services is one of the top expenditures at a Higher Education facility. Frequently those are areas where redundancy is identified, which when simplified, can result in cost savings. Having a comprehensive plan for sourcing and procurement can minimize wasteful spending and allow funds to be redirected.
Below is an article from digitalistmag.com that describes the 3 important areas that can be reviewed to reduce costs: reimagining the institution’s academic business models; the institution’s business processes and the way the workforce works. After reading the article, give us a call at SpendBridge so we can guide you through the steps that are necessary to gain the biggest cost savings in these 3 areas.
Source: digitalistmag.com | Re-Post SpendBridge 10/13/2017
Complexity exists in education. And it costs.
A typical university supports dozens of email systems, multiple LMS platforms, BYOD, and perhaps even cloud environments, as well as a staggering number of university software applications. This places negative pressure on the university enterprise, especially in today’s digital era, that is compelling digital transformation. Complexity stifles innovation and hampers collaboration among faculty, staff, and students. It impedes agile response to changing conditions and new opportunities.
And the cost of complexity is significant. Bain & Co. estimates that University of California, Berkeley, can save US$25 million by cutting organizational redundancy. And it approximates that University of North Carolina, Chapel Hill can save US$12 million by reducing organizational complexity.
Clearly, cutting out complexity is a pressing issue. It significantly limits an institution’s ability to benefit from the increasingly digital world. But how can universities map the path to a simplified world?