The research institution will integrate its current Jaggaer e-procurement solution with new accounts payable, sourcing, spend analysis, and contract lifecycle management solutions in order to automate and digitalise business processes. Florida International University’s main objectives are to move to electronic payments, reducing the number of checks being issued, and to maximise savings with ROI tracking, expanded to include sourcing.
Using Jaggaer’s e-procurement solution, Florida International University currently dispatches 50% of its POs through the marketplace, and has reduced turnaround time from five days to one day. The ROI has delivered benefits beyond their initial expenses from implementing Jaggaer, and in its past fiscal year, Florida International University has tracked USD 331,740 in cost reduction, USD 288,180 in cost avoidance, and USD 157,440 in value-added savings.
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