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Indiana University has saved nearly $20 million by joining with other universities to reduce administrative costs for essential financial software systems. The Kuali Financial System is open source software that was created to fit the needs of colleges and universities. By definition, open source software is free to use, distribute and modify, meaning IU avoids the costs of licensing expensive commercial systems that often cost tens of millions of dollars to buy and install. IU fully implemented and transitioned to the Kuali System in February.

Walmart has purchased Small Society, a Portland-based mobile developer that's built apps for Starbucks, Amazon, Whole Foods, ZipCar, the Democratic National Committee, and others. Financial terms were not disclosed in an announcement on the retail giant's @WalmartLabs blog earlier today. Small Society's team will join an existing @WalmartLabs location in Oregon, according to the post. Launched in 2011, @WalmartLabs is designed to create technologies that propel the multi-channel brand as a social-mobile commerce player in the years to come. The company also appears to be mounting an agency-like infrastructure that could bypass vendors, keeping some digital marketing development in-house at the Bentonville, AR-based big box merchandiser.

This is worth reading and thinking about on both a governmental and at an organizational level. As elements in a system become more interdependent, and as the speed and scale of financial, informational, contractual, physical transactions between the elements of a system increase, the system can become more prone to big shocks from relatively small disruptions.  If Churchill said in the age of radio that "..A lie gets halfway around the world before the truth has a chance to get its pants on" what would he have said about organizations in the age of mobile devices, Twitter and YouTube?

Admittedly, it can be difficult to quantify a specific profit or revenue impact from some types of experience enhancers-more robust "voice of the customer" programs, more polished customer statements, better trained front-line personnel, streamlined customer touchpoints, a more user-friendly website, etc. The financials surrounding such initiatives are much less precise than those of hard-dollar initiatives, like the renegotiation of real estate leases or the consolidation of corporate functions. Of course, that doesn't mean customer experience investments have any less of a compelling return than these other endeavors. It just takes a little more work to quantify it. And, frankly, in some cases, it requires a leap of faith.

If your organization fails to invest in socially responsible measures, or even if anything about your business - such as a faked viral marketing campaign - is perceived to be phony, you will be found out. You will be tweeted about, and a Facebook Causes group will be created against you. As many corporate casualties have discovered, the result of such a campaign can be catastrophic to your firm's reputation and ultimately to its bottom line. Therefore, to avoid a public relations or financial disaster, integrity needs to be part of the DNA of every organization - not just to secure a healthy business environment, but for the organization's own sustainability and competitive advantage. It's worth noting here that I believe the word "integrity" is preferable to the expression "corporate social responsibility," as the latter puts too much emphasis on the notion that corporations should do "good" in the world and be "good" citizens out of some moral or ethical imperative. Of course, that is absolutely true. But what's new - and what organizations need to focus on - is the idea of integrity, as driven by transparency. Without it you cannot build trust, and trust is essential for competitiveness in this new environment. To put it bluntly, regardless of the moral arguments, there are now some hard, bottom-line business reasons for baking integrity into every company.

The results of this research project reveal that female directors are willing to tackle tough issues that are often considered unpalatable by all-male boards. Female board participation is also found to lead to more effective board communication with investors. The presence of female directors in monitor positions on audit and corporate governance committees also makes for more transparent reporting and earnings quality. There is evidence that boards with female directors promote greater vigilance over financial reporting, exhibit greater independence of though and ensure a more rigorous monitoring process.