After people, data is your most important asset
RevenueVision®, developed by The Solution Design Group, Inc. (SDG), is a financial and operational management platform designed specifically to improve revenues, reduce costs, and optimize performance for auxiliary businesses in higher education.
RevenueVision® allows you to blend data from diverse sources, manage partners and contracts to make informed proactive decisions about your auxiliary operations. Results have been impressive – from an increase in retail dining revenue by $5 million per year at one university, to projected costs savings of nearly $2 million annually in food and labor costs at another.
It’s about the Return on Investment! – RevenueVision® offers our partner institutions a significant return on their investment based on the combination of a unique data platform and deep auxiliary expertise. In addition to the many intangible benefits offered by the platform, the benefits can be measured in real, quantifiable revenue optimization, cost reduction, and staff labor savings.
It’s about the Data! Beyond people, data is often the second most important asset to an organization. RevenueVision® allows you to blend and trend data from disparate systems and business partners in a way that is not possible in BI tools allowing you to make sound and proactive business decisions. Using the RevenueVision® data platform, you can produce the analyses and forecasts needed to improve your operations and your bottom line.
It’s about the Expertise! – RevenueVision® is configured and trained by experts in data analysis and management for higher education auxiliaries. Our Client Services Group has implemented RevenueVision® at nearly 50 contracted and self-op institutions and they have a very thorough and expert understanding of the business. In addition to bringing expert guidance in the best ways to use RevenueVision®, our team brings the experience and best practices of having implemented RevenueVision® in all segments of higher education including research universities, regional publics and privates, HBCUs, community colleges and private and public ivies.
Organizations that manage data effectively are considered leaders
Three Key ROI Pathways
Optimization of Revenues
Many institutions lack the information needed to make proactive decisions. By having the data available in a timely, and granular basis – our partners have been able to make better decisions in balancing financial responsibility with student satisfaction. Example include tracking sales by retail concept and by tender type to determine what concepts are winners and losers and making adjustments in branding and accepted payment types. Other examples include optimization of vending machine products and locations resulting in larger returns. RevenueVision® also helps you make sure that your vendors are paying you in a timely manner and it calculates the payments due to the institution based on the contractual terms and conditions.
Reduction of Costs
Small, incremental changes in your operations can result in significant cost savings. Examples include tracking food waste and disposition to better determine what types of food are being wasted and how changing purchase patterns can result in costs savings. Other examples include tracking labor by position by location and by time of day and comparing it to sales in that location to measure productivity and make shift adjustments if needed – reducing labor costs.
Reduction of Internal Labor Costs
By automating many of the activities that are labor intensive (e.g. calculating commissions, creating invoices, keeping track of renewals and amendments, etc.), the RevenueVision® platform allows you to re-purpose your time to spend more time on strategic decision making and analysis. Several of our partner institutions have been able to reduce staff through retirements and attrition without having to fill the vacant positions.