Date: 2/20/09
Contact: Kathy Beal
Illinois State University's Board of Trustees approved Commerce Bank, N.A. as the commercial banking service for the University as well as a contract with CedarCrestone for consulting services and Oracle Corporation for software purchase, maintenance and upgrades.
The University uses commercial banks for depository, disbursement, vault services and information reporting. Commerce Bank, headquartered in Kansas City, Mo., has five full-service locations in the Bloomington-Normal area and has over $17.5 billion in assets. Moody's Investor Services reaffirmed its deposit rating at Aa2, and Commerce posted a $189 million net income in 2008.
The Board authorized the purchase of Oracle's PeopleSoft Human Capital Management software last July and, in August, sought a consulting firm to assist with software implementation. The selected company, CedarCrestone, is based in Atlanta, Ga., and has provided implementation and/or upgrade service to more than 700 clients. They are a Certified Advantage Partner of Oracle Corporation and have partnered with Oracle and PeopleSoft for more than 16 years, upgrading and/or implementing the PeopleSoft system at public colleges and universities. The Board authorized a three-year contract for up to $3.5 million.
The Board approved a contract with Oracle Corporation for no more than $810,000 to purchase a University-wide (Enterprise) license for the Oracle Database Management System, which includes Oracle Enterprise Edition, Oracle Diagnostics, Oracle Tuning, Oracle Real Application Cluster and Oracle Provisioning. An additional $180,000 annually was approved to maintain and upgrade the software.
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