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            "text": "KENTUCKY STATE UNIVERSITY BOARD OF REGENTS",
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            "text": "ACTION ITEM 5C",
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            "text": "Approval of a three-year contract for the Ellucian Spend Management system."
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            "text": "FACTS",
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            "text": "Ellucian Spend Management is an enhancement to the Ellucian Banner System. It consists of:"
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                    "text": "Ellucian Purchase (powered by ESM) – purchasing & supplier management",
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            "text": "This system is designed to provide financial efficiency and integrity by:"
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                    "text": "Better tracking and streamlining along with better report generation."
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                    "text": "It will make it easier for employees to submit expense reports.",
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                    "text": "It will make the procurement process flow smoother and will reduce the time it takes to approve requisitions and process PO's."
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                    "text": "Quickly captures, stores, routes, and approves receipts and invoices centrally in a modern interface."
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                    "text": "Centralization of Processes for Visibility and Efficiency."
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                    "text": "Complex automatic routing rules based upon KSU's unique attributes and custom fields."
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                    "text": "Rules Engine to increase compliance (i.e.: if there is x, then y should happen..., over $5K, overages detected, etc.)",
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                    "text": "Integration with Ellucian Banner."
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                    "text": "Reporting (dashboard, standard, custom) is robust and meets the needs of all roles.",
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            "text": "The cost for year 1 is $176,385, of which $107,135 will be funded by Title III and $69,250 will be funded by Land Grant funds."
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            "text": "2023"
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            "text": "Total cost of the contract over 3 years is: $391,230."
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            "text": "RECOMMENDATION",
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            "text": "President Akakpo recommends the Board of Regents approve the purchase of the Ellucian Spend Management system."
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            "text": "Approve the purchase of the Ellucian Spend Management system for a 3-year contract for the total amount of $391,230."
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            "text": "Finance and Administration",
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