BACKGROUND The Business Services division of State College of Florida (SCF) oversees nearly 200 college-wide contracts with a variety of vendors that support critical campus and student operations and services. These contracts cover business units such as consulting, IT, maintenance and operations, transportation, leases, retail and concessions, MOUs, and student services. In December 2014, SCF Business Services deployed RevenueVision®, a cloud-based revenue and contract management tool, as a centralized solution to manage the College’s large volume of contracts, monitor renewals and other contract milestones, and validate payments from revenue-generating contracts.
- Could not accurately account for the College’s contracts or their annual dollar value
- Missed contract expirations/cancellations resulting in expenditures for unnecessary services
- Use of labor intensive, manual spreadsheets to track operational data, such as sales and commission
- Very limited reporting and performance metrics capabilities
- Difficulty in ensuring compliance to terms for complex contracts such as dining and vending
RevenueVision®, a cloud-based revenue and contract management solution
- No missed contract expirations, cancellations, or renewal deadlines through the deployment of automated alerts
- Approximately 10 hours of staffing time saved per month, with contracts and data centralized and reportable
- Complete visibility and accountability of the college’s annual contract commitments
- Validation of revenue from vendors and adherence to contract terms
- Readily accessible, flexible and accurate ad-hoc reporting and analytics on revenue and operational activity
Through the use of RevenueVision®, SCF now has a single solution that consolidates terms, dates, documents and operational data for all college contracts. Storage in the cloud translates to easy and quick accessibility from anywhere, as it is not dependent upon the College’s internal network. Automated email ticklers ensure that each contract renewal is managed in a timely manner. Through the RevenueVision® analytics reporting tool, metrics can be easily created and quickly analyzed to aid in management decisions.