Agresso Research Costing and Pricing is a Result of Two Years’ Innovation With Two of the World’s Leading Research Institutions
UNIT4, the global leader in ERP software that supports business change, today announced that after two years of intensive development in partnership with the University of Cambridge and the University of Oxford, it is releasing Agresso Research Costing and Pricing. The technology is designed to help research bodies including Universities, not-for-profit and Non-Governmental Organizations, considerably simplify all aspects of costing and pricing for research projects.
Agresso Research Costing and Pricing is a flexible, full Economic Costing (fEC), pricing and approval tool that enables the production of accurate cost estimations and agreement on appropriate prices for grant applications and research contracts. Available either in the cloud, or on-premises, it provides a consistent approach to research costing including data input, output and interpretation, evidenced by clear audit trails through a single, shared system. It is also a multi-lingual and multi-currency solution, enabling any organization to cost and price international projects no matter where they are located.
“Globally research is increasingly being elevated to a more strategic activity at Universities,” said Paul Dampier MIS Director at the University of Cambridge. “In addition organizations are being strongly encouraged to charge the full market price for research. At both Oxford and Cambridge we realized technology could help simplify the process of accurately costing research projects. We approached UNIT4 to develop the solution because of its track record for success and its growing commitment to the research sector.”
Both the Universities worked as early adopters of the technology and are live with the system.
Agresso Research Costing and Pricing uses on-line review, approvals and workflow so that users are guided through the right part of the process at the right time. The inbuilt approval mechanisms will speed up communication between the collaborating stakeholders and ensure the accuracy of the costing has been reviewed to increase chances of success.
Using salary information, non-staff costs, facilities costs, inflation assumptions, FEC research rates etc. the solution can determine the full Economic Cost of research projects. Then, applying pre-determined scheme templates which reflect different sponsor rules, Agresso Research Costing and Pricing calculates the price to be charged to the selected sponsor for project activity.
“It’s very much been a partnership with UNIT4,” said Dr Glenn Swafford, Director of Research Services, at the University of Oxford. “Oxford and Cambridge worked directly with the company to create a solution that calculates a comprehensive full Economic Cost aligned to the Transparent Approach to Costing (TRAC). The solution copes well with complex collaborations, multiple funders and different currencies, and will help users to make better decisions.”
Its flexibility will also enable organizations to adapt the solution no matter what their research model. This includes allowing any combination of project members to access it, from principal investigators to research administrators.
“This research solution is the culmination of two years hard work, a true collaboration between UNIT4 and two research heavyweights,” said Darren Hunt, Head of Global Sales for UNIT4. “The result is an easily implemented, well supported and flexible solution that will simplify the complex research costing process for institutions.”
This latest announcement supports UNIT4’s commitment to the sector and its 400 existing research-focused customers.