Approval of a three-year contract for the Ellucian Spend Management system.
Ellucian Spend Management is an enhancement to the Ellucian Banner System. It consists of:
Ellucian Purchase (powered by ESM) – purchasing & supplier management
Ellucian Travel & Expense (powered by Chrome River) – Travel and Expense Reporting
Ellucian Invoice (powered by Chrome River) – visibility and automation of accounts payable vendor invoices
This system is designed to provide financial efficiency and integrity by:
Better tracking and streamlining along with better report generation.
It will make it easier for employees to submit expense reports.
It will make the procurement process flow smoother and will reduce the time it takes to approve requisitions and process PO's.
Quickly captures, stores, routes, and approves receipts and invoices centrally in a modern interface.
Centralization of Processes for Visibility and Efficiency.
Complex automatic routing rules based upon KSU's unique attributes and custom fields.
Rules Engine to increase compliance (i.e.: if there is x, then y should happen..., over $5K, overages detected, etc.)
Integration with Ellucian Banner.
Reporting (dashboard, standard, custom) is robust and meets the needs of all roles.
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.
2023
Total cost of the contract over 3 years is: $391,230.
President Akakpo recommends the Board of Regents approve the purchase of the Ellucian Spend Management system.
Approve the purchase of the Ellucian Spend Management system for a 3-year contract for the total amount of $391,230.