Fees Management system can be defined as a school management software (including mobile apps) that allows
online school fee payment and streamlines all the inflows and outflows pertaining to the same. It is convenient for both the school administration and the parents to manage timely payments in a hassle free manner. The fees management system is an indispensible technology in today’s time due to the following reasons –
School fees is the primary source of income for any institution. A good school management system is the one that keeps a track of all finances in an organized manner that also gives clarity to parents about the fee structure and their dues. This becomes even better when parents have the records on a handy mobile app where they can log-in anytime and know the status of their payments.
It is a fact that more the paper work, more the manpower needed to handle it. When a fees management system is opted for, paper work reduces dramatically and the staff can be diverted to different areas of work.
The system becomes transparent because everything is now online on a software database and mobile apps. There is more scrutiny and supervision that does not encourage any wrong doings in the management of finances. This reduces chances of fraud and makes the loopholes easy to catch.
Online fees systems are prone to lesser human errors. This is why they are more reliable and save out on a lot of time and cost by reducing effort and making calculations simpler and faster. Some management software also provides a detailed analysis of how the finances are being used for various reasons (salary, stationery, maintenance cost etc) making the financial report easy to understand.
School management software and mobile apps are mostly a one-time cost borne by the school. Eventually, the software and apps are just upgraded and shaped according to the needs of the school and parental feedback on it. The thing about online management systems is that they don’t become obsolete or depreciate with time; instead they can be updated and customized. This is why they are a one-time investment that save on time, money, effort, frauds and provide holistic services in the field of fees management.