In today’s educational sphere, managing the financial operations of schools and colleges is not a cup of tea. Fee collection and management is undoubtedly the most crucial & complex activity. Fee collection & follow up are the key aspects in smoothly regulating the fee collection process. To address all the fee collection issues, educational institutions have geared up for fee follow up management software to simplify the entire fee management process.
Important Topics
The Challenge of Fee Management
The fee collection process is not just about making payments. It involves a series of interconnected operations such as generating fee structure, fees log, reports, checking fee defaulters, transport structure, and much more. Earlier, all these tasks were managed manually, leading to tons of errors. Manual processes increase the chances of missed payments, and it is difficult to track the outstanding dues. Moreover, In the traditional approach, institutions used to face difficulties in handling the cash flow.
What is Fee Follow Up Software?
In student profile, you can check all the created followups for that student.
Key Features of Fee Management Software:
- Fee Reminder Software for Schools & Colleges: The significant advantage of using fee follow up management software is the capability to automate fee reminders. The fee management software is used to send timely reminders to parents & teachers via SMS, email & push notifications to inform them about the due dates. The fee reminder software for colleges reduces the extra burden upon the school staff.
- Customizable Fee Structures: Schools & colleges have different fee structures based on grades, streams & additional services. Fee follow up management software enables institutions to create customizable fee structures. It covers all possible fee scenarios.
- Fee Defaulter Software for Schools & Colleges: Managing fee defaulters is indeed a serious challenge for schools & colleges that leads to financial & administrative burdens. Fee defaulter software for schools & colleges simplifies the entire process of defaulter identification. In addition to this, it sends timely reminders to students & parents to avoid the late fee charges. Fee defaulter software for colleges easily identifies the outstanding dues and simplifies the follow up process. Fee defaulter software is an imperative tool for smooth financial operations as far as schools & colleges are concerned.
- Real-Time Payment Tracking: Fee ERP software provides real-time tracking of payments, thus enabling the administrators to view the fee collection progress. The admin can see the pending payments, and take suitable measures for the follow up process. Real-time payments ensure accurate financial records of schools & colleges.
- Detailed Reporting and Analytics: The software generates detailed reports and analytics on fee collection, dues, and payment history. It provides valuable insights to determine the financial health of the institution. Analytics play a vital role in the long-term playing as well.
- Automated Late Fee Calculation: Fee management software automatically calculates the late fee based on the predefined rules. It eliminates the need for manually calculating the late fee.
How To Use Fee Follow-Ups Features for Fee Defaulters
Now, you or your calling team can create/add followups for fee defaulters to remember the date, time, and remarks etc.
Making a followup, you can add your remark/message, date, and time. Also, you can share this with the students through mobile app notifications.
Here, three colors are available to identify –
- Red: past followups (date already passed)
- Yellow: today’s coming followups
- Green: followups for future
Fee Follow-ups For Student Profile
In student profile, you can check all the created followups for that student.
Here, you can add, edit, update, & delete existing followups anytime. All the follow-ups are saved with the employee name who are adding this with the date and time.
Fee Follow-ups Management for Parents
Vedmarg has introduced the same ultimate fee follow-ups features for parents/siblings. Here is a detailed snapshot of parent’s fee follow-ups:
The working of fee followups for parents are exactly same like students. Color identification, reminder dates, remark, employee names are also saved for parents followups for fee reminders and fee recovery.
Conclusion: In the era where everything revolves around technology, fee follow up management software stands out as an essential tool for schools & colleges. By simplifying the fee collection process, the software improves operational excellence and transparency. Such advanced solutions are the need of the hour to meet the needs of modern administration.
