We could begin by saying “the world is in a digital age and thus we should embrace technology as it makes our lives very much easier” and all that, but that’ll be telling you something you already know. Instead, let us try something new: let us tell you a story.
It’s a new term at your school, so time for students to pay tuition and other fees, right? If you’re lucky you can get up to 70% compliance. If you’re very lucky. On average, however, you might be looking at a 50% compliance level. Either way, you then begin the task of getting the remaining students to pay. You might go about this in several ways, but you’re going to always get a lot of reasons why the fees can’t be paid at that time.
Fair enough, not all fingers are equal, financial emergencies can arise for anybody at any time, and in life, there are some things you cannot control, but you need the money to provide an adequate education for the students. Without it, you will be unable pay the teachers and they, in turn, will end up providing sub-optimal services. You also cannot provide adequate equipment for classrooms and laboratories without it. What can you do, then? That is the point of this post, after all.
Well, you can start by providing an easy method for fees remittance: an online payment platform. We spoke to several parents and one of the major reasons they gave for late fees payment was the lack of time. Most of them are very busy at work every day and cannot spare the time to get to the bank during working hours. “But they can just transfer the money to our bank accounts,” you may say, and yes they could do that. However, they would also like a way to easily and securely perform the transaction on their devices and get instant, customized receipts. This is where a customised online payment system comes in.
Several school management software include online payment and finance modules for easy and secure fees payment and effortless tracking of all financial transactions carried out with and by the school. With these modules, parents can easily pay their children’s fees, as well as set up recurring payments for each school term, and you, the school administrator, always have access to all of the school’s transaction history for record purposes. You can also adequately keep track of unpaid fees by each student.
We started with a story, let us end with a story: it’s a new term at your school, so time for students to pay tuition and other fees, right? However, you have set up a school management software and it sends a notification to all the parents in your school containing details about the term and total fees payable by their children. The parent taps a button on their phone and the payment is carried out smoothly and securely in seconds. A receipt is immediately generated and sent to them. The transaction is logged and easily accessible to you at any time of the day, and on any device you’re on. In the event that a parent is unable to pay at the moment, gentle notifications are sent to them reminding them of the pending payment.
Easy, right? The world is in a digital age and thus we should embrace technology as it makes our lives very much easier, after all.