VALENCIA COLLEGE has been a partner of The Solution Design Group since 2015. The partnership originally started to support financial audits, so all contracts could be easily managed and maintained in one place to support an auditor review. The team at Valencia College quickly realized the potential to use RevenueVision® to manage and optimize its network of 92 beverage and snack vending machines across several campus locations. RevenueVision® has helped Valencia not only increase the revenue and profitability of its vending operations but also improve beverage and snack availability to its large commuter student population.
CHALLENGES:
- Needed a central way to manage all contracts to support financial audits
- Needed a way to easily verify and validate vendor commission payments
- Needed a tool to track vending machine operations and revenue to make sure its commuter student population was well served while on campus
RESULTS:
- Increased vending commission by $40,000 in one year while also improving service to students by using data in RevenueVision® to keep machines more consistently stocked with product, moving machines to underserved locations, and testing for the right mix of products
- Used RevenueVision® to identify another $20,000 in commission potential while increasing service to students by identifying two high traffic vending locations that would be better served by mobile mini-markets which had 3x the revenue and commission generating potential to a vending machine
- Used RevenueVision® to quickly and easily validate that vendor commissions are accurate and in accordance with the contractual terms in order to satisfy audit requirements
To read the complete success story, download the PDF below.
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