Memo from the President
To: The University Community
From: Joseph M. McShane, S.J.
Date: 4 February 2009
Re: Cost Saving Opportunities
Last month I wrote to you about the University's status and actions in response to the nation's current economic situation. In this follow-up to that memo, I would like to focus on a new initiative to identify cost-saving measures throughout the University. These measures will help not only to weather the current challenges, but allow Fordham to emerge even stronger when the economy does recover.
As you know, the University is in the middle of a multi-year enterprise resource planning (ERP) program that is updating our operations and management information technologies. These new technologies are creating significant opportunities to improve existing business processes in ways that can yield significant, sustainable cost savings. This new initiative will build on the ERP program.
In the modern university, all business processes are enabled by information technology. Accordingly, I have asked Dr. Frank Sirianni, Vice President and Chief Information Officer, to lead this initiative and to periodically report back to me on its progress. The approach will be to identify opportunities to modernize and streamline existing business processes, and to collaborate with the owners of those processes to plan and execute business process improvements.
The initial focus will be on improvements that can be made in the distribution of output, that is, the central flow of information, from the new Banner system that is the ERP centerpiece. Studies from other institutions have shown the potential for very significant direct cost savings and for greater satisfaction when new technologies and business processes were put in place.
A small project team will be assembled that will include members from the functions directly affected, as well as from other University departments including Internal Audit. Most of the necessary software and hardware to support changes to the business processes has already been acquired as part of the ERP process. Existing ERP team members also have the skill sets in place to assist in this project.
I am confident that in this economic climate, this initiative will both strengthen and streamline the University's operations and continue to move Fordham forward to achieve our goals. Thank you.