Sorenson Media makes tools to convert video from one format to another. They sell licensed software solutions that are usually installed on premise. They are now offering this as a managed, cloud based service. Depending on cost (not released at this time) and minimum subscriptions, quantities, this could be a good solution on a project or as needed basis for some folks around campus.
Costs range from $499/month to $1500/month depending on the version you need – with a 1 year commitment. Squeeze Server for On-Premise installation pricing is: $5900/license, per server due upfront for the 1st year which includes all on-boarding, upgrades, maintenance and support. Then is it $900/license, per server from years 2+ that you wish to continue using the on-premise license.