Procurement Technology vs. Manual Processes: Which Saves More Time and Money?
Procurement teams in higher education face mounting pressure to do more with less. Budgets are tighter than ever, and there’s an increasing demand to cut costs. The job has become more challenging and the need more urgent. Most academic institutions use a two-pronged approach: find innovative ways to save money on goods and services and […]
How to Implement Strategic Procurement for Maximum Cost Savings in Education
Traditionally, much of higher ed procurement has been reactive. Individual departments source what they need (when they need it), often without considering volume discounts, existing contracts, or compliance requirements. This fragmented approach leads to inefficiencies and overspending. Strategic procurement, on the other hand, enables institutions to look at the big picture, consolidating spend, optimizing contracts, […]
How Procurement Software Solutions Improve Efficiency and Cost Control
The pressure to increase efficiency and control costs, without sacrificing quality, is increasing by the day. Rising costs, shrinking budgets, uncertainty about enrollment, and government policy changes have made the job of procurement and finance leaders even more difficult. Colleges and universities can no longer afford inefficient procurement. Modernizing your procurement management system and finding […]
The Benefits of Online Procurement Software for Higher Education Institutions of All Sizes
Do more with less has been the mantra for years, but it’s taken on new meaning for procurement teams these days. They’re now dealing with significant budget cutbacks in many areas and a shift in the approach to spending. Every line item is under the microscope these days as procurement and finance teams are looking […]
How Procurement Technology Can Add Value to Educational Institutions Beyond Cost Savings
In higher education procurement, cost savings have long been the primary metric of success. With increasingly tight budgets and rising operational costs, identifying ways to stretch every dollar remains critically important. However, education procurement leaders must deliver on more than just financial savings. Thanks to advances in procurement technology, higher education institutions can now view […]
Unlocking State Higher Ed Funding: The Role of Cooperative Educational Services
For FY 2025, higher ed funding by states rose by 4.3% and by about a third from five years ago, according to the State Higher Education Executive Officers Association (SHEEO). However, these figures are not adjusted for inflation. The Commonfund Institute’s latest Higher Education Price Index showed costs rising 3.4%, meaning for many academic institutions, […]
How Educational Cooperatives Reduce Costs and Optimize Higher Ed Budgets
For higher ed finance and procurement teams, these are challenging times. Money was already tight and changes in government programs are squeezing funding even further. Uncertainty at the Department of Education, threats to endowment programs, funding freezes, and moves to reduce funding, incentives, and tax provisions even further require rethinking procurement. Colleges and universities today […]
Financing Higher Education: How Education Cooperatives Are Changing the Game
Confusion. Lack of concrete information. Uncertainty. Colleges and universities are in unknown territory right now. Already dealing with the enrollment cliff and rising costs, academic institutions are now worrying about dramatic changes to government policies and funding mechanisms. In just one week in April: The federal government put $9 billion of Harvard contracts and grants […]
How Universities Can Save Millions by Aligning Procurement with Financing Strategies
Concerns about financing higher education have likely never been higher. The enrollment cliff, rising prices, and new threats to funding mechanisms have all of us worried about the future. The pressure on finance and procurement teams to reduce costs without sacrificing quality can be overwhelming. The decisions you will be forced to make can have […]
The Role of Educational Cooperatives in Bridging Funding Gaps for Educational Institutions
While there have always been education funding gaps that prevented institutions from meeting all of their goals, this landscape is shifting. In today’s environment, it’s not a subtle shift either. We’re seeing dramatic changes in higher ed funding that can have a long-term and lasting impact on the way academic institutions operate. Educational funding is […]
