Containing costs; improving student services
Faced with providing a quality education and competitive services on a tight budget? Anticipating a budget deficit and making hard decisions on services and class offerings? Plante Moran consultants are accustomed to working with colleges and universities that find themselves in situations like these. They also understand when you say you are experiencing unprecedented scrutiny from your private and public funders.
Our multidisciplinary team that specializes in operations improvement and cost containment strategies for institutions of higher education has a proven methodology and a thorough understanding of best practices. In most cases our consultants can recommend cost reduction strategies and improvements that can save institutions millions of dollars.
Opportunities to reduce cost; enhance efficiency
You can rely on our higher education team to objectively assess the way your administrative areas operate and identify opportunities to reduce costs and enhance efficiency while maintaining and often improving student services.
The opportunities our consultants identify may include implementing a new organizational model, applying best practices, enhancing revenue opportunities, reengineering current processes, and/or leveraging the institution’s technology capabilities.
You will appreciate the collaborative approach of our consultants. They will work closely with your administrators, boards, and other members of your management to identify cost reduction solutions that fit the specific needs of your institution, its culture, and its values. For your decision making, the team will present you with a menu of cost reduction programs and enhancement strategies. For each program they will develop an objective business case. You can depend on the team to document rationales, potential risks, anticipated benefits, and projected cost savings.
Transfer of ownership
A key component of the assessment is development and implementation of plans and processes identified for their cost-saving opportunities. You can trust our consultants to successfully transfer ownership of the implementation plans to your staff. This transfer is central to the team’s methodology — a point of emphasis during the engagement, from start to finish. By consulting with your administration throughout the process and providing detailed plans, your institution will be better prepared for a smooth implementation process and long-term success.
$13 million in cost-saving opportunities
Recently, our consultants worked with a higher education client that was anticipating a $6 million to $8 million shortfall. Partnering with another firm, they worked with the staff of the college to thoroughly examine its administrative operations. Within 60 days, the team identified approximately $13 million in cost-saving opportunities for the college to consider. The college has implemented many of the cost reduction strategies, balancing its budget without compromising services.