University Business November/December 2019 - 57

SPONSORED CASE STUDY

University taps centralized business
platform to boost student retention
TouchNet's unified framework also improves security, efficiency and convenience at Mizzou

T

he University of Missouri had a
unique retention problem. More
than 150 nonacademic line
items-think school sweatshirts or
event tickets-were hitting student
accounts when students would charge
them during the semester. Unable to
pay term bills that included much more
than tuition, students faced holds and
fees that restricted them from enrolling
for the next semester.
After a recent switch to TouchNet
solutions, a majority of nonacademic
charges have now been removed from
the student accounts, allowing these
accounts to reflect tuition/fees, room
and board, and other related academic
fees. The move allows families to
refine budgeting for term bills, while
hopefully prompting students to think
twice before buying a nonessential
item, says Meghan M. Carr, director of
the institution's Office of Cashiers.
"When students could freely swipe
their student ID card, and charges
would roll over to their student
account, they weren't really thinking
of the financial impact in the long run,"
Carr says. "By taking those charges off
the student accounts, we're letting
students decide whether or not to
make that purchase or attend that
event. This process holds them more
accountable."

Multiple U.Commerce options
The university, known as Mizzou, uses
the TouchNet U.Commerce platform
to manage campus payments.
Bill+Payment streamlines tuitionrelated payments and fees, and offers
online billing, deposits and e-refunds.
TouchNet Marketplace allows

"The improved customer experience
and the ability to streamline back-office
processing have been tremendous
improvements for our campus."
e-commerce and POS payment options
for vendors and departments across
campus to set up a website, sell items,
register participants for an event, or
provide services.
Since going live with Marketplace in
July, the university has processed nearly
12,000 transactions representing almost
$1 million in revenue.
'Easy win'
Transactions are automatically updated
to the general ledger, saving 20
minutes to a few hours per day for
campus department staffers who
used to walk deposits over to Carr's
office for processing and approval.
TouchNet Ready Partner Program
allows payments from different campus

For more information, please visit touchnet.com
Share this story online at UBmag.me/mizzou

software systems and vendors to be
processed through a central platform,
while retaining visibility for the
individual departments.
"Several departments use software
specific to their needs," Carr says. "With
TouchNet, we don't have to change
anything on the front end, and
payments are in a secure PCI-compliant
environment. It was an easy win."
'Tremendous improvement'
TouchNet also provides support
and time savings for established
e-commerce sites.
"The improved customer experience
and the ability to streamline back-office
processing have been tremendous
improvements for our campus," Carr says.


http://www.touchnet.com http://www.UBmag.me/mizzou

University Business November/December 2019

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University Business November/December 2019 - Cover1
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University Business November/December 2019 - 1
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