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The complexity and scope of a university budget is impressive and can be daunting to navigate. Universities purchase goods and services that span a wide spectrum, from salaries for faculty to diverse positions that run campuses, to physical to infrastructure, to software platforms that handle everything from finance to learning. Initiating new programs, no matter how much they are needed, means understanding and working within the budget framework, to make the case for a purchase that shows it can drive results and makes sense fiscally.
When you are proposing spending that unlocks new revenue streams, you must make the case for purchase based on the ROI . Universities and educational organizations who created eLearning programs early established that there are impressive revenue generating capabilities that simultaneously build impact and prestige. Creating sustainable programs is key to increasing the resources available to your educational institution.
Online learning saw record-setting gains in the previous 10 years. This has led to increased competition among online degree providers, consolidation of the online degree market, an influx of private investment into the educational space, and rising standards for online education quality [1].
The benefits to the university are twofold: first, revenue generating programs mean that budget shortfalls can be addressed through these programs, from scholarships, to restoring staff le
As new technologies and platforms are brought online, the expected growth opportunities of eLearning have expanded to nearly 5 billion individuals in 2022, up from 4.1 billion in 2019 [2]. The critical factor now is to find those SaaS partners that offer a flexible educational platform fit to the unique needs of your instructors, institution, and students.
Easy-to-use software integrations save institutions time and money. They open the doors to new learners and create dramatic efficiencies in onboarding new courses and instructors while minimizing staffing costs.
Unlocking the true ROI is critical to making budgetary decisions in 2023. Programs can be launched pre-college and post-college, or even alongside curricula.
Nearly 40% of all learning delivery in organizations is delivered via eLearning software, representing roughly $50 billion per year of corporate investment [3]. This well-developed marketplace provides a number of solutions, but the most efficient ones come with both software and services, to minimize setup time and costs and deliver faster, higher ROI.
Showcasing the savings and revenue generating potential of SaaS partnerships will enable you to make the case for a transformative purchase, and partnership.
Succeeding at budgetary success is easier when you have sponsored support for any new capital investment. Even a midsized flagship university in a state like Maine operates on a massive scale with budgetary concerns, often in the hundreds of millions to billions of dollars [4]. Many stakeholders must sign on to a purchase, and the key to making the case is to identify those key stakeholders early, and to work with your vendor so that you have ready answers and data to support your proposal and answer any questions up front.
Amesite works with numerous universities as partners, growing the eLearning solution in tandem with the appropriate scale and complexity needed by the institution. A great example of this is a recent project with Wayne State University showcasing how Amesite is MORE than just a software provider, we are a partner!
In a time when it feels like every belt is tightening, it only makes sense to onboard new innovations to garner higher asset allocation.
Amesite offers unique educational resources and systems branded to university clients. This empowers you to offer subscriptions, courses, and educational resources with turnkey solutions that alumni, administrators, educators, and students will love.
You can build greater university cultural loyalty around your brand by offering custom eLearning solutions through the power of Amesite! Contact our team today, and let’s discuss how we can fit into your next budget plan. One meeting may be all it takes to provide the facts on the tremendous ROI available from our services.
[2] https://www.gminsights.com/industry-analysis/elearning-market-size
Your Budget for 2023: How to Prepare for Digital Learning Solutions That Drive Revenue and Impact