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Universities Can Cut Costs Without Cutting Corners

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​Short on time? Here's an overview:

​One of the most frustrating impediments to efficiency and productivity in any organization is leaders' lack of instant access to all the information that should inform their business decisions. Delays in gathering such data means they can't make decisions in real time to avert problems, take advantage of opportunities, mitigate risks, or develop effective strategies. Universities are especially prone to siloed stores of vital information because of their federated structure. Each of their many departments or functions tends to have its own way of operating and assembling data.

When leaders are hindered from taking quick action, the organization suffers in a myriad of ways. University leaders might, for example, be unable to identify or predict service failure, detect and isolate cyber intrusions before damage occurs, or compete for grants in a timely manner. With their heavy compliance obligations, mistakes in regulatory reporting might go unnoticed. Unnecessary costs can mount steadily and go unmanaged for long periods.