Smart Solutions issue 2 | Page 8

defining impact on an organization’s bottom line by delivering significant savings. Outsourcing also can provide flexibility for school operations. You can easily contract out functions that are difficult to manage or too time-consuming. For functions that are seasonal or cyclical, resources can be contracted only when they’re needed. Concerns about outsourcing can be greatly mitigated with care and due diligence before selecting any vendor. Research the companies you are considering. Talk with former and current clients, check references, and thoroughly interview the company. Make sure the vendor has a clear understanding of your organization’s goals, and can clearly state how they will support them. Outsourcing non-core services gives your school access to people who focus solely on a specific function. The outsourced processes are a specialized company’s core activity – so they’re very good at it. Realize Your Potential by Strategically Outsourcing “Outsourcing” is the practice of strategically delegating certain functions traditionally handled by internal staff to outside companies. 8 Outsourcing helps schools achieve their core mission by focusing on education, not on activities that can be delegated to outside companies. to your school. Outsourcing can shift staffing from doing mundane functions to monitoring best practices. Outsourcing non-core services like payroll, background checks, tuition management, bookkeeping, landscaping, and cleaning gives your school access to people who focus solely on a specific function. The outsourced processes are a specialized company’s core activity – so they’re very good at it. This brings more knowledge, expertise, and efficiency There can be tremendous cost savings in allocating activities and functions to outside sources. Reduced operational and labor costs in the form of wages, benefits, hiring, and training are examples. Vendors may also bring consultative support solutions you had not considered or thought feasible for your school. When properly executed, outsourcing can have a There is one major aspect of outsourcing that is probably more important than anything else involved in running your school. That is in the area of payments processing and collections. The regulations surrounding financial record-keeping, reporting, and compliance issues are complex. Using a tuition management company to help you manage your accounts receivables, invoicing, payment processing, and late payer follow up will give you increased peace-of-mind. You’ll gain flexibility, customer service, reduce concern over compliance issues, and achieve benefits in areas such as data privacy and security, disaster recovery, and data reporting and analysis. Maintain open communications with vendors to solidify and build positive relationships to enable quicker resolution should any issues arise. Make sure contracts are properly structured prior to signing them to reduce risk of long-term obligations or required payments in case you wish to change vendors for poor performance or changes in technology. For many organizations, outsourcing makes perfect sense, both practically and for longterm organizational flexibility and sustainability. Strategically outsourcing and delegating non-core functions can have a powerful impact on your school growth and productivity! BIG DATA: Why Is It Important to Schools? Big Data is the term that refers to the massive amounts of data being collected and analyzed from technology use. The explosive growth of data in the last few years has provided a storehouse of information on human behavior. The science of big data, or what was formerly known as business analytics, has exploded. Schools will be using big data to analyze financial aid applications, to predict enrollment, and to operate more efficiently. As part of your marketing strategy, you will want to include research from Big Data. 9