Will this improve student and programmatic outcomes? How? Be prepared to offer case studies or share specific examples of how this software will directly impact student performance. Speak with existing software clients and get real-life examples of how they are using the tool.
Kati Warman, Head of Sales
Submitting items for budget approval can often feel like playing the lottery. You submit your request to the budget committee, cross your fingers, and anxiously wait for a response. We have been privileged to work closely with many Higher Ed institutions over the years. In doing so, we’ve observed and participated in countless budget meetings and discussions. Based on this experience and insights from health science educators, we’ve compiled this list of tips and best practices for increasing the likelihood of budget approval.
While it is essential to have a champion for a new product, you need to build consensus and support among your team. Discuss and obtain feedback from your peers and demonstrate how the solution can improve workflows for multiple departments. As you do this, find opportunities for cross-subsidies and ways to promote resource sharing and flexibility.
Does this generate revenue? Save time? Allow for improved use of current resources? How do we measure this? Assess, monetize and bring to light the cost of doing nothing. Enflux provides an ROI calculator for clients to determine how much they are currently spending on manual processes and the cost of student attrition.
Outline how the product will help achieve the shared future vision of the program. Take a look at the immediate cost of implementation, the cost over time, and how you might reallocate resources toward this investment. Finally, provide metrics to track your progress toward implementing these strategies.
Most academic programs use multiple tools with various levels of engagement. Take an inventory of what is currently available and ask yourself: Are you using them? Are they delivering the value that I need? If the answer is no, propose eliminating some of the items from the upcoming budget to make room for the new solution.