ACTION ITEM
Approval of a three-year contract for the Ellucian Spend Management system.
FACTS
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.
BUDGETARY IMPLICATION
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.
RECOMMENDATION
President Akakpo recommends the Board of Regents approve the purchase of the Ellucian Spend Management system.
MOTION
Approve the purchase of the Ellucian Spend Management system for a 3-year contract for the total amount of $391,230.