RedMane Helps Princeton University Optimize Loans and Receivables
On two separate occasions, RedMane was engaged by Princeton University to conduct an Independent Verification and Validation (IV&V) of the Loans and Receivables (L&R) project led by the University’s internal IT department. The department was in the midst of re-writing components of the legacy system, and the institution sought a third-party review of the progress and alternatives.
The L&R system is Princeton’s core application for many loans and receivables, including student accounts, parent loans, mortgages, etc. The review led to JAD sessions to create an L&R Strategic Plan, which triggered the need for the school to initiate a Campus Receivables (CR) modernization project. We conducted additional JAD sessions to determine whether the University should replace the current system, enhance it, or take a hybrid approach. Ultimately, the best course of action was to upgrade and enhance many of the components of the existing Java application, rather than replace them.
Helping Princeton graduate to a superior L&R environment
Serving as an impartial third party, we presented Princeton with recommendations for moving forward. The University selected the options that were the most cost-effective, offered the greatest business and technical value, and aligned with organizational and technical goals. Many of our ideas were implemented, and staffers applauded our ability to modernize the system within the specified timeframe and budget.