Cornell University

Streamlines Procurement and Saves Millions of Dollars
Industry

Education

Company

Located in Ithaca, New York, Cornell University is a private endowed research University, a member of the Ivy League, and a partner of the State University of New York. Founded in 1865, Cornell maintains an academic staff of more than 2,000 people, with 21,000 students enrolled in 11 undergraduate, graduate, and professional schools. In addition to its 2,300-acre Ithaca campus, the University operates two medical graduate and professional schools in New York City, and one in Doha, Qatar.

Challenge

Despite its bucolic campus setting, Cornell University faced intense pressure to minimize spending while maintaining its prestigious reputation. As manager of Cornell’s $500 million annual procurement budget, Tom Romantic was responsible for maximizing the value of every dollar the University spent—from cafeteria trays to radio telescopes.

In 2008, as the national economy weakened, Romantic knew that budget cuts were looming, and that he would have to reduce spending without compromising the University’s high standards. Romantic needed to use a scalpel rather than a chainsaw, but there was a problem: the software he inherited when he took the job was simply not up to the task.

Results

  • Achieved an immediate savings of $145K with annual savings of $31 million by 2015
  • Eliminated the need for costly data warehousing
  • Reduced costs without affecting procurement receivables

製品
Applications

  • Database Management
  • Procurement Management specifically designed for the educational industry

 
One year after the Rocket U2 and Spend Viz implementation, Romantic was able to report an immediate savings of $145,000 to the Cornell University CFO. Total savings has grown to more than 31 million dollars annually, a significant return on investment in the Rocket-powered Spend Viz toolset.
 
The Cornell Chronicle
2015