University Business - Finance Guide - January 2012 - (Page 2)

2012 Higher Education Guide to F I NANC IAL SE RVICES EMEMBER WHEN ALL BUSI ness operations in your institution ran smoothly and effortlessly, and you could leave early for the day and not bring your work home with you? Of course you don’t. The business of running a college or university was never an easy thing and, with increasing financial and regulatory demands, it will only get more difficult. That’s why we’re bringing you our 2012 Higher Education Guide to Financial Services. On the following pages you’ll find a variety of vendors, consulting firms, and advisors to help you work better, control costs, and find your way through the increasingly complex world of financial services. The companies and consultants on the following pages know how to help. They know what works because they’ve been through it before. They’ve worked with other institutions with similar problems. They can put a fresh perspective on your problems. But how do you choose the right one? A few years ago, Jim Scannell and Kathy Kurz, our Money Matter columnists outlined 10 principles for a productive institution/consultant relationship. I suggest you take the time to read the entire enlightening article online at http://bit.ly/t4OEUo, but to summarize: • A consultant merely recommending strategies that have worked at other institutions, without a data-driven analysis of your particular market position and of the price elasticity of your pool, can easily backﬁre. • Be sure the consultant has experience with your problem. For example, a ﬁnancial aid practitioner will know what to look for when “scrubbing” the data ﬁles you provide, and frequently a practitioner can identify problems with the data based on anomalies that only someone familiar with ﬁnancial aid practices and programs could identify. • The consultant should be upfront about any arrangements they have with third party vendors or services, and be able to clearly demonstrate why the option they are recommending is the best one for your institution. • Both parties should clearly understand the nature and details of the project, including a summary of the recommended approach and objectives, the techniques used in the analysis, the costs, a timetable for completion, and the “deliverables.” Check references, talk to colleagues who have worked with the consulting ﬁrm previously, and ask for a client list. The best consultants essentially serve as an extension of the institution’s staﬀ, providing additional resources to accomplish things that aren’t possible for a staﬀ that may already feel stretched to the limit. Take advantage of the expertise offered here. It may be one of your best business decisions of the new year. R Here to Help ACCOUNTING SERVICES FOR DERIVATIVES, p. 4 DerivActiv, LLC ADMISSIONS AND RETENTION SERVICES, p. 4 ACS, A Xerox Company The Dysart Group, Inc. ESM Maguire Associates, Inc. Scannell & Kurz, Inc. APPRAISERS, p. 4 American Appraisal CALL CENTER, p. 5 ACS, A Xerox Company CAMPUS COMMERCE , p. 5 Higher One National Joint Powers Alliance (NJPA) Nelnet Business Solutions Ofﬁcial Payments Corp. Sallie Mae TouchNet Information Systems, Inc. CONSULTING SERVICES, p. 5-6 Art & Science Group Brailsford & Dunlavey The Dysart Group, Inc. Huron Education 2 Financial Services 2012 universitybusiness.com http://bit.ly/t4OEUo http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - Finance Guide - January 2012

University Business - Finance Guide - January 2012
Accounting Services for Derivatives
Admissions and Retention Services
Appraisers
Call Center
Campus Commerce
Consulting Services

University Business - Finance Guide - January 2012