2014 Strategic Initiatives

1. Assess, coordinate, and implement major cost-cutting initiatives to achieve a portion of the U-M savings goal of $120 million from the General Fund in the period FY 2013 to FY 2017
   • Administrative Services Transformation (AST)
     • Implement Shared Services Center
   • Implement Wave 3 of Strategic Sourcing
     • Identify commodities for Wave 3
     • Establish savings targets for commodities
     • Negotiate vendor contracts for Wave 3 commodities
     • Issue semi-annual scorecard on cost savings and percent of spend through strategic contracts
2. Provide expertise and guidance on compliance, control, and reporting issues
   • Evaluate public/private partnerships and alternative revenue initiatives
   • Conduct operations assessment of the Offices of Financial Aid and Undergraduate Admissions
   • Develop new banking and expense reimbursement model for Club Sports
3. Maximize efficiencies, reduce costs, and improve financial and procurement processes
   • Develop and implement project portfolio management for Finance projects
   • Implement Facilities Maintenance supply chain recommendations to achieve cost savings
   • Evaluate options to realign select Finance operations, based on the Shared Services initiative
   • Perform risk assessments as necessary
   • Reduce Accounts Payable (AP) hubs
   • Evaluate options for online and international payment gateways
4. Leverage enabling technologies to support cost-cutting and service-enhancement initiatives
   • Implement Contract Management System
   • Select vendor and develop implementation plan for new Mcard System
   • Finish implementation of new Risk Management Information System (Risk Master)
   • Extend ‘Cashless Campus’ initiative via remote deposit capture technology
   • Identify imaging technology that will provide efficiencies for Human Subject Incentive Program (HSIP)
   • Implement PeopleSoft cashiering module
5. Engage Finance employees through leadership development, growth, and training opportunities as part of ongoing effort to improve employee and customer satisfaction
   • Begin implementation of workforce transition plan to support the Shared Services component of the AST project
   • Develop succession planning process for ELT lead teams
   • Address customer satisfaction opportunities that were noted on the FY 2013 B&F Customer Satisfaction Survey
   • Continue Finance version of “It Starts with You” to maintain organization-wide expectation of leadership and employee engagement

View the FY 2014 B&F Strategic Framework.