Indiana University (IU), founded in 1820, is a public university serving a combined student body of over 110,000 students. With eight campuses, its two main campuses are located in Bloomington and Indianapolis. One of IU’s most notable alums is James Watson, one of the men credited with discovering the structure of DNA. The university boasts an attitude of innovation as it was named the world’s 37th most innovative university in 2016. IU needed a better financial administration solution to continue its legacy of producing groundbreaking research and providing quality education.
Though Indiana University played a key role in Kuali’s early product development, the institution developed its own homegrown system to manage finances. However, IU reached a critical juncture in the realization that it, as an individual institution, could not keep up with the pace of innovation. It turned to the higher education community to find like-minded, forward-thinking partners for solutions.
Indiana University found in Kuali an open-sourced, cost effective financial administration solution. Kuali Financials provided freedom in its open source system that kept IU from becoming locked into a traditional vendor solution with rigid contracts and little flexibility. Indiana estimated savings of $15-20 million in comparison to traditional solutions; savings which will be used to forward the institution’s mission of education and research.