|How a Medical University Manages Financial Grants Using BPM |
Chief Operations Officer
Medical University of South Carolina
Executive Editor, Strategic Content
Ziff Davis Enterprise
Apr 15, 2009
12:00 p.m. Eastern / 9:00 a.m. Pacific
Duration: 60 Minutes
The Medical University of South Carolina (MUSC) depends upon financial grants as a primary means of funding its medical research. The university manages 6,000 to 8,000 grants every quarter, allocating grant funds to the appropriate research projects and salaries. Their Labor Distribution Process is critical to keeping this "lifeblood" flowing. But this process was entirely manual, where the same information had to be keyed into different front-end and back-end systems. This resulted in significant backlogs, long delays, and lots of errors and rework.
MUSC briefly considered an expensive ERP solution, but instead chose a more cost-effective, flexible Business Process Management Suite (BPMS) to automate and simplify the grants allocation process. As a result, they were able to eliminate backlogs and delays, reducing the time for processing grant salary and fund allocations from 4 days down to 40 seconds!
In this presentation, you will learn:
How MUSC justified this strategic BPM initiative, received buy-in, and quickly delivered significant benefits for the university.
How they were able to proactively catch and eliminate errors at the point of entry, bringing the per-grant error rate from 85 to 90 percent down to 2 to 3 percent!
How they reduced "human touches" by 65 percent -- allowing them to free up several FTEs (full-time equivalents) for other important tasks.
How key process performance indicators showed them some "behavior modification" was required, in addition to the automation, to achieve the full benefits.
Sponsored by Lombardi
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