The National association of College and University Business Officers recognizes that higher education institutions are under increasing pressure to find new efficiencies at their institutions and to demonstrate that they are being good stewards of public dollars. Groups of institutions - both formal and informal - are also increasingly looking for ways to compare themselves and identify ways in which they can creatively work together to drive down the cost of higher education.
Staff and facilities costs have already received significant attention in most institutions. Spend on goods and services is now receiving increased attention. Behind staff salaries and benefits, procurement of goods and services represents the second largest line item in most institutional budgets - generally between 20% and 33%.
In recognition of the increasing focus on procurement expenditures, NACUBO and the National Association of Educational Procurement (NAEP) have established a working group to address this need. In 2015, a steering committee of institutional and national association representatives was established and in collaboration with Spikes Cavell Analytic Inc., the group designed and continues to develop a procurement analytics and benchmarking solution called spendmetric - Higher Education.
Individual institutions who wish to participate in the program will pay a fee which is based on the expenditures of the institution. The fee will include data collection and transformation as well as access to the relevant individual and benchmark comparison dashboards. CBOs, CPOs and respective team members will have role-based access to those dashboards. If your institution already has a spend analytics provider or e-procurement toolset, it may still be possible to utilize the internal and external benchmark comparison components of spendmetric as well as contribute your expenditure data to the national database of spend information.
Non-participating institutions will have access to all national research findings via their respective member organization (NACUBO or NAEP) which will include insights from institutions of all sizes, trends in higher education expenditures on goods and services, and other relevant findings.
For more information about spendmetric and how your institution might become involved see below contact.
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