Case studies
University of Alaska increases revenue through alternative means with online storefronts
Most higher education institutions don’t bring in extra revenue by selling firewood permits, but most don’t own forest land in Alaska.
“We have areas where somebody can purchase a permit to cut down firewood,” said Nicole Chambers, Finance Project Manager, University of Alaska. “It’s an alternative heat source in Alaska to have a wood stove. So instead of purchasing firewood directly from somebody, you can purchase a permit to go on state land and cut your own.”
The University of Alaska System uses TouchNet Marketplace to provide an online store allowing customers to purchase firewood permits and pay online.
But it’s not just for firewood permits. The University of Alaska System uses Marketplace uStores and uPay sites to help organize sales and payments of various products and services. From sweatshirts in campus bookstores emblazoned with the Nanook mascotm to hockey game tickets, to birch syrup to pour over pancakes and waffles, customers have multiple options to show school spirit. With more than 130 uStores and more than 95 uPay sites, the online storefronts help the university raise funds with other revenue streams. The university also works with 15 TouchNet Ready Partners to offer more goods and services.
Whether paying to attend a conference or buying flowers, it made an impact for the university, with more than 20,000 transactions bringing in over $4.2 million in revenue during the 2023-2024 fiscal year.
Secure payments, anytime and anywhere
Marketplace uStores allow the University of Alaska System to set up unlimited digital storefronts with product catalogs, registration sites, and payment pages. With Marketplace uPay sites, the University of Alaska System connects existing web-based applications and campus vendors to secure payment pages, providing a PCI-compliant centralized payment system. TouchNet’s integrations enable transactions to automatically post to the general ledger in the university’s enterprise resource planning (ERP) finance system, eliminating manual data entry and helping ease the financial office’s workflow.
“Marketplace allows for departments to collect their own revenue, without putting the workload on central office personnel,” said Chambers. “They’re able to reconcile their own funds, which then helps free up central office personnel to work on other university needs. In addition, there is incredible integration with our Ellucian Banner general ledger. It comes into our Banner system and enters everything there.”
While the University of Alaska System’s centralized finance office manages TouchNet Marketplace, any department may request a uStore or uPay site. The Office of the Bursar provides guidance and requirements for establishing a new uStore or uPay site, including considerations for PCI compliance and FERPA training. Staff is available for assistance, however the process allows departments to self-serve and create tailored e-commerce sites.
Flexibility to meet evolving needs
When the pandemic hit, the University of Alaska System used its online stores to help with new financial struggles.
“When COVID-19 started, there was a huge need for contactless payments,” Chambers said. “Having an already established solution that could help ease individuals into an e-commerce platform was great and provided an avenue where payments could still be received in times when overall revenue was down.”
While the University of Alaska has developed many different storefronts and made ticketing a simple process, its staff will continue innovating with new ideas and improvements.
“It's great to have something that can be so customizable and configurable,” Chamber said. “We're able to create something that is easy for people to use and access.”
