Huron Consulting Group (NASDAQ: HURN), a leading provider of business consulting services, today announced that two research institutions – Brandeis University and the California Institute of Technology (Caltech) – are implementing its web-based efacs® (electronic facilities and administrative cost system) solution. Both institutions will use Huron’s efacs solution and expertise to calculate those facilities and administrative (F&A) cost rates associated with the research effort.
“Huron’s efacs provides us with an intuitive, easy-to-use solution to address the complex cost accounting involved in the calculation of the F&A rate,” said Ginger Baker, senior director, Cost Studies and Property Services, California Institute of Technology.
“The prospect of streamlined F&A processes for system users and optimized cost reimbursement from external sponsors was what primarily attracted us to the Huron solution,” said Chris O’Brien, vice president of financial affairs and university treasurer, Brandeis University.
Both Brandeis and Caltech have chosen to have Huron host the solution in a private cloud rather than maintaining it in-house. Huron’s efacs clients have the option to choose either approach and can switch from one to the other as their requirements change.“Having the ability to host the solution at a secure, high performance site was an added benefit, minimizing the impact on our busy IT resources,” said Caltech’s Baker. Since its launch in 2011, Huron’s efacs solution has been helping institutions optimize reimbursements from external sponsors to support the research enterprise. The solution takes into account the specific needs of universities and academic medical centers (AMCs) that require a sophisticated tool to measure, track, and ultimately improve the recovery of their F&A costs. Institutions can install the solution on site or in the cloud. Working with an institution’s existing system, Huron’s efacs solution does not require expensive maintenance or complex setup. “We are pleased to see the rapid market adoption of our efacs solution. More than 30 institutions have used Huron’s efacs software to streamline the calculation of F&A cost rates,” said Jim Carter, managing director, Huron Education. “Our clients recognize that efacs makes negotiating favorable rates easier.” About Brandeis University Characterized by academic excellence since its founding in 1948, Brandeis is one of the youngest private research universities, as well as the only nonsectarian Jewish-sponsored college or university in the country. Named for the late Justice Louis Dembitz Brandeis of the U.S. Supreme Court, Brandeis University combines the faculty and resources of a world-class research institution with the intimacy and personal attention of a small liberal arts college and is ranked in the top tier of the nation’s universities. For students, that means unsurpassed access — both in and out of the classroom — to a faculty renowned for groundbreaking research, scholarship and artistic output. At Brandeis, professors bring newly minted knowledge straight from the field or lab to the graduate and undergraduate classrooms. Brandeis supports an innovative and exciting program of learning that emphasizes an interdisciplinary approach to knowledge and the solution of real-life problems.