As an ERP solutions provider, we at IFW ERP are constantly questioned about the benefits of IFW ERP for educational institutions. Implementing IFW ERP for educational institutions is a great way to streamline your operations and manage your accounting. You get a lot of benefits when you implement IFW ERP in your educational institutions. For consideration, Automation of accounting and payroll, Better control over your finances, Improved management of your resources and expenses, etc. And top of that, ERP helps in cost optimization. Yes, you heard it right. IFW ERP helps to save money in school, college, or university in the following ways.
- Cost Saving on Pre-printed Stationery
Every year schools, colleges, and universities used to get many things printed for day-to-day operational work like student fee receipt books; staff salary slips, staff leaves forms, student application formats, Student Certificates, Blank Report cards, etc. The printed materials used often get wasted due to changes in formats in mid-session etc. A lot of money and paper was wasted on this. After implementing “IFW ERP,” all this wastage is completely eliminated.
- Single ERP Solutions, no need for multiple software
The educational institutes used a Library Management Solution a few years ago, a separate Accounting Software, and a separate Timetable management software. Needless to say, they were paying separately for all this software and had different vendors and databases. They used to manage the data backup and installation of that software individually and also had to manually enter the data of students and staff, etc., without any integration. After getting “IFW ERP” implemented on the campus, they now have a single solution with a single and centralized database. They are paying less than before and can automate all the departments on one platform.
- Less ManPower and Man Hours required for Day to Day Work, the institute becomes system oriented rather than person-oriented
Since all the staff members are working with respective modules in the ERP, all the data of the institution can be accessed under a single roof. Anyone can check the data corresponding to the other departments if they have the required permissions. So, employees can immediately complete their tasks without updates/reports from other departments. For Example: If a parent has come to meet the Principal of the institute for some complain or matter in a concern of the Student, then the Principal has to take an update from all the departments and concerned faculty members, this will take a lot of time, and even then the analysis of the overall performance of the Student will not be possible to get in a whole day. With “IFW ERP,” the Principal can check the complete status of the Student, his fee status, library status, current or past exam marks, his discipline report, his attendance, details related to Hostel or Transport, etc., with just a single click. And most importantly, the Principal does not have to talk to any staff member about this. This gives the Principals, Directors, and HODs a powerful mechanism for quick and accurate decision-making.
- More Time Saving for Employees and Management
After implementing “IFW ERP,” the staff and management can invest more time in improving academic intelligence. This gives fantastic results or placements at the end of the session. Also, there is no data redundancy and duplication in multiple departments, which makes all departments’ records very accurate. The Management is also able to plan and better forecast the finances of the institution and also track the performance of staff organically.
- Institute on ERP = Hi-Tech Campus = Great Brand Image
When the Students and Parents get regular updates about their Attendance, Fee payments, Academics etc via SMS, Whatsapp, Emails or App; it says a lot about the quality of campus administration and their way of working. Small gestures like Birthday greetings to Staff and Students through an automated system strengthen the bond between the Institution and its stakeholders. When all departments can give the required details and data to education Boards, AICTE, State Universities, Government Bodies, and Top Management of the Society with a single click of a button, your brand image is automatically improved. A Hi-Tech Campus, in a true sense, is the one that can do this all and save cost and time for themselves and give more to the Students for whom the campus came into existence in the first place.
We hope this article helps you understand how ERP optimizes expenses in your school, college, and university. To connect with an ERP expert, call +91-9314409699, and we will answer your queries.