How Schools Can Spend Less and Achieve More

May 3, 2011 - PRLog -- Can you say with confidence that you know exactly where you are at in your annual operating budget? Do you have expenditures under control and have visibility of costs? And, can you proactively manage your budget? Schools across the Midwest are answering yes with the help of Kivetta Software’s spend management system.

When it comes to expenditures, most school districts operate on a reactive management method and in some cases, this may mean a manual tracking system that records what is being spent and by whom after the items have been purchased. This system works well with schools, though is unsuccessful in influencing what their organizations buy, from whom, and on what terms.

With this approach, decision makers have no real means to tighten the belt during tough economic times or to avert financial disaster before it occurs because there is not a strong understanding of where their budget is at throughout the year. Yet the pressure to improve on operations and efficiencies are greater than ever before. Schools are coming under heavy scrutiny, having to justify expenditure and demonstrate funding control throughout the year because of low enrollment, job loss, school closings, lack of government funding, embezzlement, and fraud scandals.  

It is because of these increasing pressures that spend management software like, Kivetta’s k-Purchase system, is gaining popularity. More and more school districts are implementing e-procurement systems and best practices in their schools to help take control of spending, and operate smarter by improving cost-base visibility and ensuring that the best value for money is achieved.

Today’s difficult economic climate sees a growing number of schools attempting to tackle these problems. Though for many schools, the process of controlling spend is just too difficult. Rather than having useful insight into budget availability through a few extra work flow steps, it is easier for staff to do their own “manual thing” and ignore any formal purchasing procedure---resulting in uncontrolled spending without management approval and proper tracking. Even more troublesome than a lack of control, however, is the complete lack of visibility in most schools.

Spend Management is the term given to all processes that a school or organization uses to manage aspects of expenditure that are non-Payroll related. For schools, that is 17-20 percent of the operating budget, also known as the addressable spend. It includes all forms of procurement and employee expenses. Spending can be affected through proper approval and can be properly accounted for through efficient procurement process systems that tighten financial practices and with good framework.

Kivetta’s spend management system, k-Purchase, addresses functions such as purchase request up to payment or procurement cycle automation; spend analysis, vendor/procurement sourcing, approval control, budget checking, vendor/supplier invoice reconciliation and employee expenses.

Kivetta Software provides online solutions to automate procurement and budget planning for school districts. Its rules-based, expense management platform can help customers to spend less, reduce operating costs, and improve visibility. Kivetta empowers its users with the ability to operate smarter and save money, and the best part is the system is FREE for schools.

Call today to find out how your school and organization can receive Kivetta’s k-Purchase system for free 1-888-485-4838 or visit us at www.kivetta.com.

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Kivetta is a proactive spend-management technology company that provides online solutions to automate procurement and budget planning for school districts. Kivetta’s rules-based, expense management platform can help Community School Districts to spend less, reduce operating costs, and improve visibility. Kivetta empowers your users with the ability to operate smarter and save money.
Kivetta brings efficiency to your school while putting dollars back into your bank account. For more information, visit www.kivetta.com or call toll free 1-888-485-4838.