Problems & Solutions
Tuition alone cannot meet the financial realities of many financial institutions.
RevenueVision® helps maximize revenue and reduce costs in your auxiliary and business operations with a very strong return on investment.
As colleges and universities are under increasing pressure to reduce the rate of tuition and fee increases, they are turning to their business and auxiliary services groups for greater contributions. By providing sophisticated data analytics, a centralized repository of all operational and financial data, and automated reporting, RevenueVision® is helping our higher education partners dramatically increase revenue and reduce costs. With a return on investment that can reach seven figures on an annual basis, the RevenueVision® platform can pay for itself within weeks of deployment.
Your data will outlive your providers
RevenueVision® provides you ownership of your data and tracks both historical, current, and forecast data regardless of provider.
The tracking of operational and financial data that is typically not included in your ERP or financial system (e.g. sales by retail dining operation) has historically been tracked, if at all, in off-line spreadsheets based on vendor provided files. Often, this data is lost or kept in paper files that are rapidly out of date.
Many vendors offer customers the option to look at their data in a spreadsheet, and in some cases an online analysis tool. The reality of the situation is that data belongs to your organization, and has tremendous operational and historical value.
Because RevenueVision® can be used for nearly any type of financial or operational statistical data and supports the merging of datasets from different sources, our higher education partners can upload data into RevenueVision® from other campus systems such as student card systems or point of sale systems and vendor provided files and use that data for comparison purposes regardless of provider. This allows you to see how new concepts and providers are performing in comparison to previous operations to ensure that the most effective management and operational processes are being put in place. RevenueVision optimizes operations for greater student satisfaction and financial stewardship.
Higher education administrative costs have risen 61% in the last two decades.
RevenueVision® helps to reduce labor hours in auxiliary operations allowing for more strategic thinking and planning.
RevenueVision® dramatically reduces the time you spend managing auxiliary operations in a number of ways:
- Centralizes all your auxiliary information in one location
- Provides alert notifications of important events before they happen
- automates the validation of commission payments
- creates invoices and chargebacks
- analyzes and measure productivity
These time savings are significant and will allow your auxiliaries staff to spend more time on strategic initiatives and less time inputting and massaging data. Several RevenueVision® campus partners have been able to consolidate positions due to attrition and retirements resulting in labor savings approaching 30%