The higher education sector is the latest to face government announcements of budget cuts, with Lord Mandelson recently proposing further cuts of £135 million, taking the total up to nearly £400 million during 2010-11. This has raised many concerns both inside and outside the industry as to how this will affect spending on a per student basis, capital purchases and intake numbers.
It’s fair to say reducing costs is high on the agenda for many universities and higher education organisations, although here at Wax we have already seen the shift change in traditional procurement methods and technology requirements within the HE sector..
One university ahead in terms of assessing and reducing costs across the organisation is a client we’ve been working with for some time who through the use of source-to-pay technology is reaping the benefits ahead of the proposed budget cuts.
With savings in excess of £400,000 from just two eAuction events for facilities management and uniform contracts and the technology to cement the savings generated in these and other areas such as IT and Stationery this leading UK University now have the tools, technology and know-how to deliver future significant savings and beat the budget cuts.
Find out more about how we have helped cut costs in key higher education categories through effective eSourcing.
