session 40909 final
TRANSCRIPT
1© 2016 ELLUCIAN. CONFIDENTIAL & PROPRIETARY | Session ID
Accounts Receivable Communication Automation
Jackie AndersonIllinois Institute of Technology
April 20, 2016Session ID: 40909
2© 2016 ELLUCIAN. CONFIDENTIAL & PROPRIETARY | Session ID
Session rules of etiquette
• Please turn off your cell phone/pager
• If you must leave the session early, please do so as discreetly as possible
• Please avoid side conversation during the session.
Thank you for your cooperation!
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Introduction
• Jackie Anderson, Illinois Tech, Chicago
• What’s the benefit of attending this session?
o Identify ways to save time and resources.
o Learn the obstacles we faced.
o Hear our solutions.
o See our results.
o Steal and implement at your university!
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AGENDA
• Review student accounting issues.
• Identify the automation techniques.
• Discuss the results.
THINGS TO KNOW• Banner• TouchNet• FormFusion• Appworx
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ISSUES
• Large number of students with unpaid accounts.
• TSAAREV activity AFTER billing statements issued.
• Institutional loan offers time consuming.
• Direct deposit enrollment low, volume of printed checks high.
• Returned payments manual.
• Health waivers approved but not processed in timely manner.
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Topic #1
Large volume of students with unpaid accounts.
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Topic #1 – Large volume of studentswith unpaid accounts.
• Active students didn’t pay till registration opened for next term
• Due date is add/drop.
• Total number of students with outstanding receivable was over 100.
Piecemeal follow up done manually
• Four letters/e-mails to students, via mail merge.
• 35+ hours per week to manage the cycle for collection monitoring.
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Topic #1 – Large volume of studentswith unpaid accounts.
Solution - Automate collections due diligence letters using TGRAGES – Aging Analysis Report
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Topic #1 – Large volume of studentswith unpaid accounts.
SOLUTION: TSAACCT delinquency codes trigger collection letter series
SPACMNT keeps recordof notifications
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Topic #1 – Large volume of studentswith unpaid accounts.
3 notices, automatically sent
every 30 days.
The point when account balance becomes zero during the letter series the coding falls off and the series stops.
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RESULTS
• Cycle time was reduced to five minutes/week vs. 38 hours/week• Most time on process for one person is stuffing envelopes• Efficiency = 98% time saved or 1FTE
Topic #1 – Large volume of studentswith unpaid accounts.
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Topic #2
TSAAREV activity AFTER billing statements released.
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Topic #2 TSAAREV activity after billing statements issued.
Student Accounting• Responsible for tuition, mandatory fees (including health
insurance charge).
Other Offices• Access Card and Parking Services – parking charges• Academic Affairs – graduation application fees• Financial Aid – university scholarships, federal and state
grants, federal loans• Health Services – health fee waivers• Registrar’s Office – course/lab fees• Residential Services – housing and meal plan charges
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Topic #2 TSAAREV activity after billing statements issued.
Solution – New charges added to student account trigger email notification.
New charge feeds March 3
Financial aid refund issued January 28th
Charges active January 16th/financial aid disbursed
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Topic #2 TSAAREV activity after billing statements issued.
Send notification before transaction feeds to Finance.
Add note to SPACMNT
Solution – New charges added to student account trigger email notification.
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Topic #2 TSAAREV activity after billing statements issued.
Solution – New charges added to student account triggers email notification.
PDF version is also attached
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Topic #2 TSAAREV activity after billing statements issued.
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RESULTS
• Automatic communication to student THE SAME DAY as charge is added to TSAAREV.
• No confusion about new balance owed. Email indicates exactly what is owed and why.
• Reduced contact with our office. • Students started paying these charges!
Topic #2 TSAAREV activity after billing statements issued.
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Topic #3
Institutional loan offers time consuming.
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Topic #3 - Institutional loan offers very time consuming
Institutional Loan Process
• Transfers new institutional loan files via ECSI File Transfer desktop icons = 2 mins
• Transfers new disbursed institutional loan via ECSI File Transfer desktop icons = 3 mins
• Downloads completed master promissory note (MPN) files from ECSI server = 4 minutes
• Sample = 121 students (sample from August 2013 MPN files on ECSI report)
• Cycle time for full process* = ((1+1+1+1+1)*5)+(121*3)= 393 minutes = 6.5 hours
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Topic #3 - Institutional loan offers very time consuming
Solution – Award offers trigger email notification.
Offer loan to student on RPAAWRDSend email PDF for loan offerAdd note to SPACMNT
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Topic #3 - Institutional loan offers very time consuming
RESULTS
• Institutional loan automation 100%!• Cycle time was reduced to 10 minutes/week vs. 4.58 hours/week • Simple check the report every morning • Efficiency = 90% time saved or 1FTE
• Awarded University Business Models of Efficiency award.
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Topic #4
Direct deposit enrollment low, volume of printed checks high.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
• Students eligible for refunds, but didn’t have direct deposit.
• Checks were printed by AP and then mailed by our office.
• If a student set up direct deposit, we would void the check and then issue the credit via direct deposit.
• Wasting paper, ink, and time.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
Initial refund uses detail code associated with a dummy bank account.
Once direct deposit is set up, we process a void on the student account, and issue refund through direct deposit using a detail code associated with the bank.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
Mapped detail code to hit the new fund with dummy bank account.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
• TSRFRND runs and will add RPDD to all students.
• TouchNet refunds run.
• Accounts without direct deposit remain RPDD.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
• RPDD triggers an email to the student to set up direct deposit.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
• If direct deposit is set up, we VOID the transaction and add RPDD again, running the TouchNet job.
• If there is no direct deposit, then we issue a paper check that goes to Accounts Payable (RRFD is set up to hit REAL BANK FUND).
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
Solution – Created dummy bank code to automate direct deposit setup
• Accounts Payable runs the check job and receives this report:
• ONLY CHECKS to the bank print!• Dummy will sit till we cancel and run refunds again.
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Topic #4 - Direct deposit enrollment low, volume of printed checks high.
RESULTS
• Saved on expenses for check paper and ink (ADD $ per check and ink per person).
• Saving carbon footprint by reducing the amount of voided checks. • Quicker refund access for students when issuing to direct deposit. • Refunds issued are 98% via direct deposit.
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Topic #5
Returned payments manual.
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Topic #5 – Returned payments manual.
• Returned payments processed by cashier daily.
• Download the bank files and update the student account with return payment.
• Email the student about the payment, including reasons for return and amounts.
• Add notes to SPACMNT to document communication.
• Update TouchNet to ensure accounts were prevented from being used in the future (NSF codes).
• During peak times in term, this could take a few hours to process from beginning to end.
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Topic #5 – Returned payments manual.
Solution – Used logic to map bank statement files to post returned payment automatically.
PNC Bank File:
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Topic #5 – Returned payments manual.
Solution – Used logic to map bank statement files to post returned payment automatically.
Email is sent and recorded on SPACMNT:
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Topic #5 – Returned payments manual.
RESULTS
• Automatically posts the return to TSAAREV.• Sends communication to student and adds a note to the account. • Return posted within 24 hours of PNC notification to IIT.
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Topic #6
Health waivers approved but not processed in timely manner.
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Topic #6 - Health waivers approved but not processed in timely manner.
Every student at IIT is enrolled in the student health insurance when registered for 1 billable credit hour.
Here are the numbers for fall:• Total # students assessed health insurance: 7,786• Total amount assessed to student accounts: $11,204,054.00
In order for our office to receive payment for the term, we need to send out accurate statements that show waivers were processed for students approved by Aetna. • Total # students approved with health waiver: 3,541• Total amount to waive off student accounts: $5,095,499.00
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Topic #6 - Health waivers approved but not processed in timely manner.
• ISSUE: Staff member was processing waivers by HAND! 3,000+
• Total time to download a file, go to a student account, copy attributes, add waiver code, and save took 2 minutes/student. This equated to 15 work days at 7.75 hours to ONLY process waivers (no disruptions).
• During peak times of year and just before deadlines, staff would work 10 hour days to accommodate all questions on health insurance and process waivers after the office closed.
• Billing was inaccurate because fees were still on student accounts.
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Topic #6 - Health waivers approved but not processed in timely manner.
Solution – Created a process to download and process files from Aetna overnight and update SGASADD.
Process runs to update SGASADD off the AETNA waivers approved.
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Topic #6 - Health waivers approved but not processed in timely manner.
Solution – Created a process to download and process files from Aetna overnight and update Banner.
RESULTS
• The automation resulted in $1.8M more in payments by add/drop compared to Fall 2014. We were able to have 2,901 waivers processed on student accounts this fall compared to 1,926 last year – increasing the number processed on student accounts by 150%.
• Eliminated need for 1 FTE to work overtime to process waivers.
• Files transmitted to and from Aetna daily, without worry of weekend or peak season interruptions.
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Summary
All these projects were completed with these easy steps:
• Step 1: Ask what is impacting staff.
• Step 2: MAP the EXISTING process.
• Step 3: Find the bottlenecks in the process and redesign.
TIPS
• Maximize existing systems to save resources.
• Engage the right people – ask who is doing the work what they need.
• Get buy-in from stakeholders.
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Questions & Answers
44© 2016 ELLUCIAN. CONFIDENTIAL & PROPRIETARY | Session ID
Thank you!Jackie [email protected]
Please complete the online session evaluation form.Session ID 40909