3. Consider VOIP Over Traditional Phone Services
If your campus is still hampered by relying on an old-fashioned landline system, you can bridge your budgetary gap the same way businesses large and small save money, by deploying a state-of-the-art voice over IP or VoIP setup. “While it’s not a cheap and easy replacement for plain old telephone service, its return on investment can make it pay off,” noted University Business.
Seeing that Clayton State University in Georgia replaced its old phone system with a setup from Avaya that dropped costs from $250,000 to $125,000 a year should have you reconsidering your own phone system and the money it’s draining from your budget.
4. Hire Students Whenever Possible
When the college’s financial situation keeps you from hiring to meet minimum staffing levels, the best approach might be to start hiring from within.
You may have a gold mine in terms of available talent at your college, so why not take advantage of it and save some money to boot? According to the New York Times, “Rhodes College in Memphis economizes—and gives students work experience—by hiring students in 25 professional staff positions, saving $725,000 a year.”
5. Implement More Online Self-service Processes
Small colleges can save money by decreasing the number of students and faculty inundating their IT staff with help desk tickets by making information more readily available online so they can help themselves.
“Publish FAQs or knowledge bases on the university website with answers to users’ most basic questions,” recommended EdTech Magazine, “and drive users to them as a first option before contacting a live technician.”
You can further reduce costs by encouraging students to download free security software and malware scanners from IT.
It’s clear that some out-of-the-box thinking is required to help small colleges improve their financial standing. The more you take advantage of hardware and software innovations, the better prepared you will be to address future budgetary shortfalls.
Sorting out the possibilities and determining which would be best to implement in your college can be difficult when you have limited time and attention for research. Shoring up the gaps in your knowledge is easier when you consult with peers who have gone through their own campus budgetary issues.
If you have any questions or would like more insight into saving money at your college, send Optimal Partners a request today.
[Editor’s note: This piece was originally posted on Optimal Partners’ Blog here.]
Dave C. is a writer for Optimal Partners‘ Blog.
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