Penn is making the most of Web-based technologies to ease transactions and save money, and organizations outside the University are taking notice.
The Aberdeen Group, which helps companies operate more efficiently, recently awarded Penn "Best Practices in E-Procurement." The University was the only member of higher-education to receive this honor.
Penn Purchasing Services, which makes purchases from outside companies on behalf of the University, uses a plan called the Business Enterprise Network -- nicknamed BEN Financials after Penn founder Ben Franklin -- to conserve resources.
The plan has saved the University $79.6 million since its creation in 1996, according to Executive Vice President Craig Carnaroli.
"We have been an early adopter of electronic purchasing," he said, adding that the system's function is to "facilitate how people place orders and how orders get paid."
Coupled with a system called Penn Marketplace, BEN Financials allows authorized users to purchase from the University's suppliers over the Internet, said Vira Homick, an associate director at Purchasing Services.
She said the University has about 9,000 suppliers, 136 of which are included in the Penn Marketplace. These companies provide everything from books to water to alarm systems.
The University saw a large jump in savings shortly after the system's initiation, but savings have since leveled off, Homick said.
Carnaroli added that while the University has grown significantly in the past decade, its purchasing department has not, thereby saving money that would have been used to pay additional employees.
Homick said saving on outside purchasing lets Penn "channel more dollars toward academia."
Vice President of Budget and Management Analysis Bonnie Gibson said in an e-mail interview that money saved on acquiring goods and services can be reinvested in undergraduate and graduate education, better facilities and faculty recruitment, among other things.
Another electronic system designed to save time and money is U@Penn, the equivalent of Penn Portal for faculty. Among the site's features are its abilities to receive tax forms and requests for benefits online, Carnaroli said.
He added that recognition from organizations like the Aberdeen Group show that the University has been successful in making every dollar count.
