Fee Management & The Impact Of Digital Apps
Proctur | How much to charge? How much to pay? What should be the mode of payment? Yes, tuition fee is on everyone’s mind, whether you are at the helm of a coaching centre or a parent.
In our previous blog, we discussed the overall benefits of digitisation for a tutorial centre, both big and small. In this, we delve a little deeper and get into the specifics of fee management and the effects of digitisation on it.
Usually, tutorial centres maintain a handwritten register or an excel sheet to keep track of students and their fee. Any communication or reminder to parents is mostly verbal and hence, unorganised. A person is even at times employed by the tutorial centre to do just that—keep a tab on timely payment and inform students/parents if otherwise.
With the ever-increasing emphasis on cashless transactions, payments in the form of cash has become a niggling problem. Payment via cheques also begins an unnecessary chain of activities—entering the details in the register, having someone deposit it at the bank, making sure the cheques do not bounce, informing the parents of successful payment or otherwise.
When this chain of events is repeated every month for say 500 students, each with a different pay structure, the process can get cumbersome.
Now, imagine having an easy-to-use app do all this and more for you. You can access it from any Android or Apple device.
So, what are the benefits of using an app such as Proctur’s:
- Systematic approach
- The automated reminder system ensures timely payment
- Students with dues are identified and real-time reminders are sent to guardians
- Reminders to deposit cheques in banks are sent to the institution admin
- A daily fee collection report and analytics is done
- Improves transparency, which helps avoid any fraudulent activity
- Professional attitude
- Fee receipts are generated and automatic emails are sent to parents
- Reminders and updates in the form of automatic text messages are also sent
- Quick payments are possible, as parents can pay online through a registered login system
- Guardians do not have to personally visit the centre to make payments or depend on children to so
- Easy connectivity
- Reminder to parents to maintain sufficient balance in case of cheque payments are sent
- Parents, students and the tutorial centre are notified in case of cheque bounce
- Analytics solutions
- Reports of dues that need to be cleared are regularly generated
- Fee collection reports (as per course/instalment/date/payment method) are also generated
- Payment history of each student is maintained
- Receipts against payments are generated
- Salary of staff members is calculated
- Data management
- Miscellaneous information such as discounts on fee is maintained
- Fee structure for every student is customised as per requirement
Furthermore, these centralised fee collection tools can be regularly upgraded. Fee management apps, such as the one developed by Proctur, eases day-to-day management issues of any tutorial centre. Maintaining manual records or time-consuming calculations become redundant. Time and resource can instead be used to create a fast-paced, structured and modern learning environment.
