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Outsourcing – Making it Work for You. October 20, 2010 NYSFAAA 42nd Conference. Today’s Presenters. Irvin Bodofsky Director of Financial Aid Emeritus SUNY Upstate Medical University Daniel Hunter Director of Financial Aid Emeritus Buffalo State College Michael McGraw

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outsourcing making it work for you

Outsourcing – Making it Work for You

October 20, 2010

NYSFAAA 42nd Conference

today s presenters
Today’s Presenters
  • Irvin Bodofsky
    • Director of Financial Aid Emeritus
    • SUNY Upstate Medical University
  • Daniel Hunter
    • Director of Financial Aid Emeritus
    • Buffalo State College
  • Michael McGraw
    • Director of Financial Aid Emeritus
    • Tompkins Cortland Community College
our goal for today
Our Goal for Today
  • To share with you what we have learned in the past couple of years about outsourcing and how to make it work for you.
  • In the interest of transparency…
    • We do consulting, both independently and for companies.
    • We are receiving financial compensation for being here from ProEducation Solutions, LLC.
why consider outsourcing
Why consider outsourcing?
  • Increased applications
  • Increased federal regulations
  • Reduced resources
  • Direct Loan legislation
  • Need for training
why consider outsourcing1
Why consider outsourcing?
  • Increased applications caused by
    • Negative economy
    • Rising costs
    • Parent and student uncertainty
why consider outsourcing2
Why consider outsourcing?
  • Increased federal regulations
    • Verification
      • increased selection of Pell eligible
      • targeting of data elements requires staff retraining
      • elimination of 30% cap
    • More cases of conflicting information
    • 2 Pell Grants per year
why consider outsourcing3
Why consider outsourcing?
  • Reduced resources:
    • Staffing
    • Training
    • Hardware, software and IT support
why consider outsourcing4
Why consider outsourcing?
  • Direct Loan transition
    • Impact on staff time
    • Assignments
why consider outsourcing5
Why consider outsourcing?
  • Need for training
    • For professional and support staff, regardless of tenure
    • Cost of training?
    • Does your institution support training?
why consider outsourcing6
Why consider outsourcing?

It’s time to re-think your business practices.

The status quo will not continue to be productive.

what options do you have
What options do you have?
  • Hire new staff?
  • Overtime for current staff?
  • Hire temporary staff?
  • Close office for processing?
  • Hire consultants?
  • Outsource?
what options do you have1
What options do you have?
  • Hire new staff?
      • Economic conditions prohibit this
  • Overtime for current staff?
      • Burnout issues
      • Impact on retirement benefits
  • Hire temporary staff?
      • Do you have a pool of qualified people?
what options do you have2
What options do you have?
  • Close the office for processing?
      • Bad for customer service
      • Make problems worse
  • Hire Consultants?
      • Costly
  • Outsource?
      • Negative image
pros and cons of outsourcing positives
Pros and cons of outsourcingPositives
  • Access to qualified staff
  • You can control costs - you know how much you will be paying
  • Another set of eyes may find ways to streamline and improve your process
  • May help you see things that are slipping by (regs, policies, etc.)
  • Can be for a defined period of time, or ongoing
pros and cons of outsourcing negatives
Pros and cons of outsourcingNegatives
  • Image is negative
  • How do you insure quality control
  • Contract process
  • Buy-in from staff, supervisors, other offices
  • Union concerns
  • issues - regulatory process
on campus vs remote processing
On campus vs. Remote processing
  • Cost considerations –
    • additional expenses for travel and lodging
  • IT considerations -
    • remote access, security
making it work for you
Making it work for you
  • Carefully define the scope of work (cost, processes, etc.)
  • What about insurance/bonding, confidentiality documents/training?
  • Customer service issues - processing time can now be devoted to customer service.
making it work for you1
Making it work for you
  • Need to have solid policies and procedures.
  • How will consultants be trained?
  • How will quality be controlled?
  • Get buy in from other offices, especially IT!
  • Add third party servicers to ECAR asap.
why consider outsourcing7
Why consider outsourcing?

It’s time to re-think your business practices.

The status quo will not continue to be productive.