Digitizing your educational institution and collecting fees online
Education is a huge industry that has the potential to help the Indian economy turn digital. Schools around India have embraced digital technologies to modernize education delivery, boost learning outcomes and improve the learning experience. They are recognizing the advantages of automating processes to collect fees online and reduce manual labor, paperwork, saving time and effort for the college and school administration.
As per the report, the market is growing at a steady rate, and with the rising adoption of strategies by key players; the digital education market is expected to rise over $2.28 billion by the year 2025. Digital technology has the potential to slash the cost of processing, data collection, and communication associated with administrative processes. Resulting in a dramatic increase in efficiency and effectiveness in other educational activities. In order to help solve these problems of either delayed fee payment, or the student not paying at all, or the fee being misused; a reliable and transparent payment system to collect fees online can be deployed.
Streamline fee collection in the safest and most straightforward way
With the complexity of the transaction ecosystem of any typical school today, administrators are looking to focus on digitizing the back office of schools and begin to collect fees online. Payments-related processes present an important opportunity, given the importance of deploying funds efficiently, securely, and appropriately. Listed below are some of the important reasons that depict how the online fee payment system plays an important role in school or college administration.
- Easy and seamless transactions
It has now become secure and effortless to collect school fees online using platforms such as Feesbuzz. Platforms like these require you to follow only a few simple steps to deposit your school or exam fee. It is very fast and feasible as it makes use of instant transfer of money, unlike the classic cheque and demand draft. Fees collecting platform aids the school’s management staff by reducing the manual work and collecting fees online that has become easy like never before. It will be advantageous for students making use of payment platforms as they don’t need to be in a queue for hours, skip their classes for depositing their school fees or exam fee.
- Safe and secure mode of financial transactions
To collect fees online has now become a secure mode for collecting school fees because it reduces the risk of theft as it uses cashless transactions. Fees cannot be misplaced by mistake and also can’t be robbed as it may happen in traditional ways of fee payment like cash or cheque. Also, online payment platforms like FeesBuzz use a secured payment gateway that is PCI DSS compliant for online transactions for collecting fees. We can trust the gateway and can be worry-free as it is the most used payment gateway in India for financial transactions.
- Efficient record management
Due to a lack of effective alternatives, many schools have long accepted error-prone manual systems. These manual processes consume time and effort from teachers, administrators, parents, and students. With digital technology at its best, it has become easier to collect fees online.
By paying school fees online, students do have not to worry about maintaining the records separately. This feature enables schools and colleges to record automatically by saving students’ transaction history. While schools automate this fee payment process, record transactions and collect fees online, students are also timely notified and provided with proper information related to payment, with the transaction history. You can go ahead and opt for the FeesBuzz fee-payment platform for your schools to save 80% of your staff member’s time that offers a secured payment gateway.
- Effortless installment wise payment collection
To collect fees online is nowadays a highly convenient and effortless method as the fee payment system such as FeesBuzz is user-friendly and decreases human effort by 90%. With a simple and engaging user interface, FeesBuzz allows colleges and schools to collect fees installment-wise directly and have immediate reconciliation. The fee collection software is easy to integrate in your schools and colleges administration software. Without much effort or training in using the software, school or college staff may simply monitor the fee defaulters’ report and warn students/parents about pending fees by SMS or email, as well as collect funds online.
- Auto schedules to collect fees online
Paying school fees online is the most convenient and effortless way to collect fees online as students and parents can pay our fees online from anywhere and at any time. By auto-scheduling, the fee payment, schools, and colleges can foretell students and parents to pay the fee on time. The online fee payment platform provides options to parents and students to pay the fees online via various payment modes like credit cards, debit cards, net banking, and e-wallets.
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- Real-time dashboard for student fee collection
The inbuilt AI-powered analytics dashboard enables staff to track the fees payment status of the students with just a few clicks. It further manages one-time collections of school fines and refundable security deposits. The online fee payment software also displays important information like dues, daily collection, etc., and manages security deposit funds in a seamless manner.
- Automate fee due alerts and reminders
Automated fees collection systems such as FeesBuzz come with astounding features that ease educational work and helps schools set automated fee due alerts and reminders. It sends alerts to students and parents before fees are due or for unscheduled fees.
Transform the most cumbersome aspects of managing an educational institutes finances into an effortless operation
Digital innovations are now emerging to allow schools to move away from manual processes when they take accounts receivable, day-to-day expenses associated with individual students. Online fee payment providers offer customized digital payments capabilities that don’t just facilitate the exchange of monetary value but help digitize the surrounding manual process as well. The above pointers easily give you every reason to shift towards automating the fees collection process and begin to collect fees online at ease.