University Business - July/August 2012 - (Page 1)

ADVERTISEMENT Sure Could Use Tomorrow’s Business Ofﬁce Right Now Fiscal Imperatives Call for Transformative Technology A lbert Einstein once said, “I never think about the future. It will come soon enough.” No one can predict what’s in store for higher education, but a new ﬁnancial reality is coming sooner, not later. Perhaps it’s already here. Time to think about what it means for the business ofﬁce. Demands for greater ﬁnancial visibility, accountability and security call for a transformation from business ofﬁce to business operations center. Technology makes it all possible. ofﬁce task that doesn’t need the human touch – and putting more of it to those that do. From payment processing to personnel to PCI compliance, so many efﬁciencies can be realized if a business ofﬁcer has a full understanding of what’s going on. The Unifying Element Feeling the Pressure Why must the business ofﬁce change? Because the business of higher education is changing. The cost of a college education is becoming part of a national debate. Though much can be attributed to cuts in traditional funding sources, public opinion is shifting and higher education must respond. In short time, constituents, politicians and the media will be asking some tough questions, like why are costs outpacing even health care, where is the money going, and who is accountable? Schools don’t need a different payment processor for every campus merchant. Individual departments shouldn’t have to reconcile their own systems. In an ideal world, the business ofﬁce knows where every transaction is coming from, how it’s made, what it costs to get the money in the bank, and how long it takes. It can happen, but only with a single platform that connects the labyrinth of payment points and merchant types across campus. No one can predict what the business ofﬁce of the future will look like. What we do know is technology that uniﬁes the campus enterprise will be at the heart of the transformation. It’s not change that will replace people, but rather will call on them to implement the technology and continually ﬁnd new ways to leverage it. Imagine the Solution The typical business ofﬁce would have difﬁculty answering these questions today. The campus business and its divergent ﬂow of transactions are too complex. It’s hard to follow a dollar from point A to point Z, and to understand where it came from, where it’s going and the best way to treat it. To a business consultant, higher ed is structurally inefﬁcient. The typical campus business produces redundancy in effort, equipment and expenditure. Yet no one can really tell where the problems are without a complete view of the picture – from 30,000 feet, down to a single transaction. Imagine being able to track every payment, every dollar on campus. Imagine a bursar looking at the whole picture, like CNN’s John King in front of the Magic Board, drilling down to the data that makes all the difference when making key decisions. Imagine automating every business Make it Happen Abraham Lincoln said, “The best thing about the future is that it comes one day at a time.” Forward-thinking colleges and universities can give themselves a head start. There’s no time like the present to begin putting technology in place to do the work that needs to be done. TouchNet U.Commerce provides the framework for today, and a foundation for the business ofﬁce of tomorrow. Learn more at touchnet.com. http://www.touchnet.com http://www.touchnet.com

Table of Contents for the Digital Edition of University Business - July/August 2012

University Business - July/August 2012
Contents
Editor’s Note
Ad Index
College Index
Behind the News
Viewpoint
Admissions
Models of Efficiency
Floor Plans
Consulting Guide
Limited Liability
Touch to Begin
A Sound Investment
Voluntary Retirement
Human Resources
Money Matters
What’s New
End Note

University Business - July/August 2012