University Business September 2016 - 18

SPONSORED WEB SEMINAR DIGEST Modernizing Administrative Workflows in Higher Education Strategies for making business processes more efficient A University Business Web Seminar Digest * Originally presented on July 12, 2016 While faced with state and federal regulations, an increasingly competitive recruitment environment and intense pressure to contain costs, many colleges and universities have been unable to modernize critical business processes, which could help address key challenges in admissions, finance and fundraising. Siloed data, manual processes and inefficient workflows can be costly, create security vulnerabilities and prevent institution leaders from understanding the true costs of doing business. This web seminar presented the results of a recent University Business survey of higher ed executive leaders relating to these common challenges, and included a discussion with an expert from Ricoh about ways to address these challenges by digitizing information and automating workflows. Eisele-Dyrli: University Business and Ricoh partnered to develop this survey to explore some of the challenges related to administrative workflows and business processes in higher ed. The survey was deployed to a segment of the UB audience with leadership responsibilities in executive management, business/finance and IT departments. We received responses from a good mix of four-year public, four-year private and two-year institutions, and we focused on medium- to large-size colleges and universities. Each question provided a statement and asked if the respondent agreed or disagreed. Here is the first statement: "Our existing document workflows provide sufficient security to safeguard student and employee personal and financial information." Security is very important to a lot of institutions, so it's not much of a surprise to see a pretty overwhelming majority saying they agree, more than 80 percent. But about 15 percent said they disagree. secure that environment when you don't have consistency of staff. Ben Ruch: I think the challenge with security is that in the admissions process, a lot of this information coming into the organization is seasonal. For this vast amount of content, in either paper or electronic form, often the admissions departments have to bring in temporary employees, maybe other university staff, or even student labor to help process this information, extract it and input into the admissions line-of-business applications. It's more difficult to Eisele-Dyrli: Next statement: "Our accounts payable processing is centralized and does not require employees to manually enter data and route invoices." A significant majority disagree, at just over 60 percent, so their AP processing is not centralized and does require manual data entry. Eisele-Dyrli: Next statement: "My institution has concerns about PCI compliance due to our manual processes." The results are almost evenly split, with a slim majority saying they disagree, that they do not have concerns. Ruch: We're seeing trends to ensure that there are adequate processes in place to lock down this information- it's becoming a bigger and bigger concern for most colleges and universities. In particular, when you are talking about advancement and you are handling donor information, obviously it is imperative that is not compromised. We've even seen in some advancement departments that people are keying in information off of these checks, and incoming financial records on screen can't be seen by a person standing next to the computer. Ruch: Depending on the institution, there may be different strategies for processing invoices. In some cases, View, comment, share this story online at http://UBmag.me/ricoh http://www.universitybusiness.com/ws071216 http://www.UBmag.me/ricoh

Table of Contents for the Digital Edition of University Business September 2016

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