Financial and Operational Assessments
We look at specific aspects of your operations, from budgets to programs, to increase efficiencies and effectiveness. We can target assessments to a specific department, examine an entire division, or an enterprise process.
NACUBO consultants don’t just offer advice, they expand your capacity to assess and analyze, allowing your unit to keep up with day-to-day needs. As your resources continue to be stretched, we offer an infusion of talent and expertise to help you accomplish your goals.
Areas of Focus
- Resource allocation
- Cash management
- Student financial services
Examples of Our Work
- Chart of accounts
- Cost and margin analysis
- Organizational optimization
- Employee skills analysis
- Process improvements
- Technology maximization
A large public flagship was debating outsourcing its bookstore, which was operating in the red after changing its location on campus and eliminating some services. While these decisions reduced operating expenses, were they also to blame for the reduction in revenue? NACUBO Consulting was hired to assess the bookstore’s operations and recommend next steps.
An assessment of freight costs uncovered a significant cost driver: expeditated orders. Late enrollments and changes to class sizes forced the bookstore to order additional materials at the last minute—or else jeopardize student success and customer service. Not only were expeditated orders expensive, they required so much attention at the start of the semester that the on-time orders were often not monitored and resupplied.
The consultants realized that the solution to a more profitable bookstore was to be found in redesigning how both academic affairs and the bookstore operate together. They recommended a completely revised system for how course materials are adopted, processed, and streamlined that focused on reduced costs and increased student success. Additionally, the consultants recommended that all digital components be transitioned to an established third-party program that allows for direct digital access to certain course materials through the learning management system. Doing so would dramatically reduce shipping and inventory costs and enable immediate access to course materials.
With these and other recommendations, the bookstore will stay in-house for at least the next three years, and a plan was created to make the bookstore regain profitable margins that will decrease the university’s overall expenses.
Vice President, Consulting and Business Development