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ezAtlas S2P has helped SMU to achieve Excellence: The $1 Million Savings Secret
Table of Contents
Introduction
ezAtlas S2P Sikkim Manipal University (SMU) case study, talks about how the university, greatly changed its procurement and asset management processes through the implementation of ezAtlas Source-to-Pay (S2P) software. The study points out the challenges that were encountered by SMU, ezAtlas’ proposed solution as well as the benefits obtained. This can serve as a guide for other educational institutions that are looking for ways to improve their procurement operations.
Background
Sikkim Manipal University was founded in 1995 and is among the best institutions in India which includes four main entities: SMIMS, SMIT, CON and COP. SMU is home to more than 20,000 students spread across different programs was faced with serious the management of its complex procurement ecosystem.
Challenges
SMU’s procurement landscape was patched up and ineffective:
🔗 Fragmented Systems: Different systems were used by SMU for various functions of procurement and asset management resulting to data silos and communication problems.
🤝Multiple Vendors: It took a lot of time coordinating with numerous vendors at once.
⏳Lack of Integration: There was no single platform where everything from sourcing to asset disposal could be managed during the whole procurement life cycle with respect to inventory visibility. Inefficient
🖥️Workflows: Redundant processes together with some manual interventions led to delays and mistakes happening all over again.
📊Data Inconsistency: Inconsistent information in various systems made decision-making difficult as well as lack of openness.
📦Real-time Inventory Management: The struggle to keep precise and contemporary stock records is leading to a shortage of items and extra supplies.
💸High Expense: High operational costs because of manual activities.
As stated by the Chief Procurements Officer of SMU:
“Our fragmented systems were causing delays, errors, and frustration. We needed a unified solution that could handle our complex procurement needs while providing real-time visibility across all our entities.”
ezAtlas S2P Solution
ezAtlas offered all-encompassing S2P solution for higher education institutions. ezAtlas understood the pain points associated with procurement activities in SMU and therefore provided an integrated Source-to-Pay (S2P) solution with features for inventory control and asset management. The software was designed specifically to meet the requirements of colleges and universities so that they can manage multiple entities on a single platform.
The ezAtlas S2P solution included:
- Integrated Platform: A single portal for procurement, inventory and asset management.
- Real-Time Inventory Management: Always current and precise records as it follows what is on stock; makes orders on timely basis.
- Asset Lifecyle Management: Manages the lifecycle of assets, from procurement to disposal with a view supplying cost-effective service support and tracking warranty.
- Internal Purchase Committee (IPC) and University purchase committee (UPC): They are preconfigured approval workflows that automate the purchasing process.
- Where Can My Students Find If They Were Approved For Financial Aid, Their FAN And Any Missing Requirements?
- Store & Inventory Management: This department provides comprehensive management of stores inventories and supplies.
- Single Source of Truth: Data source which collates the activities from all procure to pay and inventory transactions ensuring that a single version exists for reference by any point of contact in university.
- Customized to Suit Business Needs: The software was customized according to the specific needs of SMU, which allowed easy adoption and less disturbance.
The S2Psoftware solution will enable SMU to successfully transition from its existing disparate systems and move over one integrated platform seamlessly as ezAtlas collaborates closely with the university on implementing the technology. Some of the steps in this process included:
Results
Finance Director at SMU says:
“The ezAtlas S2P solution has revolutionized our procurement processes This has turned us to have only one source of truth for all our data leading shorter turnaround times and faster decision-making.”
Highlights:
- In higher education, full S2P solutions like those who brought up can do lots to streamline procurement.
- Prevent Stockouts and Overstocking with real-time inventory management
- This ensures that there is a greater compliance while reducing maverick spending with custom approval workflows
- One version of the truth for procurement data = better decision making
- You do want to get the most out of your S2P software by using it properly and spinning up on how-to instructions.
Industry Context: According to a Gartner report in 2023, institutions that implement integrated S2P solutions saved an average of 15-20% cost savings in procurement operations. Results at SMU beat this benchmark, proving the value of both a specialized ezAtlas solution.
Gartner 2023
Conclusion
Sikkim Manipal University Shows How Innovation at the Grassroots Level Can Revolutionize a Higher Education Procurement Process with ezAtlas S2P Software The way ezAtlas combine maps, indoor mapping and business data with them has shown the right direction to transform cost cutting into a process optimization at universities.
ezAtlas CEO Vikrant Raj says,
“We are very honored to have been chosen by SMU for their digital transformation. Their success story is a guiding light for other schools who are trying to optimize their procurement method.”
The comprehensive ezAtlas S2P solution provides an ideal tailored approach to improve procurement and asset management processes for educational institutions, with a clear understanding of the sector’s requirements.
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