McMaster team earns national finance award

McMaster Campus Store and Media Production Services (MPS) staff joined forces with procurement staff in an effort to increase sales and cost-savings to departments.

This financial savings and connection-building business model has been recognized by the Quality & Productivity (Q&P) Awards. The team has been given second prize under the Achieving and Demonstrating Operational Effectiveness within Higher Education category.

Central support staff operate as specialized strategic sourcing agents for departments by providing quotes for internal and external production. They work to eliminate taxes for departments, which get absorbed into ancillary margins.

“The key to implementing the strategic cost-savings project in 2015 was creating a partnership between the two departments,” said Roger Couldrey, McMaster Vice-President Administration. “It’s great that this group has been acknowledged in this way for all their efforts.”

Since launching the project, MPS’s sales increased by 82% in the first year, and more than 130% the following year. Sales at the Campus Store increased by more than $263,000 and more than $447,000, respectively. Altogether, the departments saved close to $200,000 in avoidable costs and taxes.

The Q&P Awards are scored on factors of transferability, innovation, quality impact, and productivity impact.

The team consists of Denise Van Koughnett, David Ryan, Lynne Serviss, Simon Oakley, Jan Nicholson, Patrick Burke, Diana Parker, Donna Shapiro, Phil Poelmans, and Deidre Henne.

Deidre Henne, Associate Vice-President Administration and Chief Financial Officer, was given a 2017 Leadership in Learning Award from the Canadian Association of University Business Officers (CAUBO).

Henne was also part of the team awarded the 2016 Q&P Award for the project “Show me the money (Turning AP into a profit centre),” and was co-chair for the 2013 CAUBO annual conference themed “All the right moves”.