When you look around a university campus, it’s easy to forget that it’s a business like any other. Like most for-profit organizations, success in the business of higher education relies on a complex, interconnected system of people and back-office processes that work together to control costs, find efficiencies, and evolve with the times.
As with many industries and organizations around the world, higher education institutions are struggling to navigate the new normal created by COVID-19. Already-tight budgets are now even tighter, and universities face difficult questions on how (or even if) students can return safely to campuses and classrooms in the fall. To deal with these and other challenges, many institutions are turning to technology to bring people and processes together, do more with less, and cut costs.
SAP Concur partnered with Education Dive to explore how universities are taking advantage of modern technology both in and out of the classroom. Together, we identified three back-office benefits driven by these technologies:
- Employees are empowered to work more efficiently and prodictively from anywhere
- Compliance is supported
- Cash flow is improved
We also examined how the savings generated from an investment in software to automate expense, travel, and invoice payment processes go well beyond the initial cost of the technology. And that an automated system has far-reaching benefits that include better cash flow, streamlined operations, and helping faculty and staff be more efficient.