Is it possible to uplift ROI by an Institute Management System?

Changing face of education has put institutes in a challenging space where every school & college is rolling up their sleeves to be in the race to become the best in the industry. Institutes are leaving no stone unturned to maintain their reputation may it be centralizing the entire operational process, ensuring quality performance or having the best infrastructure.

Institutes will definitely make a headway with a diligent attitude & incorporating technology. But as much as growth; cost & expense is also a challenge for institutes as they have a predetermined capacity for expenditure. Hence for them, making wise investments with optimistic ROI is significant for growth.

In this blog, we will interpret for you how institute management system can improve ROI for any institute.  

  • Reduce human resource – Traditionally, institutions operated only on manual methods. A team of people was required to carry out activities effortlessly. This caused a huge labor cost to the institutes.

Automated systems integrate all internal processes with a requirement of very limited resource. This cuts down on a large resource expense.

  • High accuracy – Use of manual ways to perform administrative activities are highly susceptible to human errors. In spite of having experts to look after the entire institute, there will always be a risk factor involved. Also, institutes cannot afford to have any slip ups in case of accounts.

ERP software on the other hand, regulates the entire life cycle of an institute flawlessly thus ensuring high accuracy. Institutes do not have to worry about any kind of reassessment.

  • Streamlined operations – Being a dynamic ecosystem, it has always been a challenge for institutes to have an established framework to modulate different processes. It’s only because each process is distinct & it can be tough to have a connect.

ERP’s have made it possible where a single system monitors the entire institution. This makes it much easier for the management to have a control over various institutes at a time, irrespective of the location. Systematically designed softwares regulate processes at every level which ultimately results in growth.

  • Instant communication – Institutes have always struggled with an easy flow of communication across various levels of stakeholders. This gap in communication has been a major barrier in having effortless operations.

Institute management system has narrowed this gap significantly. Immediate response is made possible & easy for effective actions. Instant communication reduces miscommunication, increases transparency & triggers quick decisions that can help resolve issues faster leading to a rise in productivity.

  • Data Security – Data is the driving force for any institute. Loosing data can be a worst nightmare for any school or college. Earlier institutes used to be maintain data in files & folders. Misplacing these files was too much of a risk for them.

Institute management system uses cloud & other data technologies for high data security. This has reduced the risk of data loss to minimum. Most importantly, this comes at no repetitive cost.

  • Time effective – Time management has always been a concern, especially for institutes with limited resource.  Using manual ways to carry out activities can consume much more time as compared to the automated systems. Processes like manual reconciliation, offline admissions & fee collection etc. takes away too much of time & resource.

Automation has made institutional operations rapid & smart. ERP systems can reflect the results three times faster than the collective effort of humans. With the help of such systems, institute staff can carry out functions rapidly and utilize the time in improving other areas. This makes it effective, efficient & error free at the same time.

  • No infrastructure & recurring IT cost – Institutes have a misbelief that ERP’s burn huge hole in the pockets.

You can check our post on the common misbeliefs these institutes have http://blog.onfees.com/5-common-myths-erp-implementation-educational-institutes/
But it is very important for the institutes to understand that ERP is an ongoing process. Its returns take time to show. It is one time investment that the institutes need to make in order to have a well-organized ecosystem. Once the software is implemented successfully, institutes don’t have to invest any further. Also there is no infrastructure cost involved. Cost is added only if the institutes want to add any new features to the existing system.

  • Considerable drop in paper & print cost – Conventional ways of running an institute involved tremendous use of paper work. May it be the admission forms, preparing fee & other miscellaneous receipts, accounting books, maintaining student data etc. every record was on paper. This was a huge cost for the institutes to bear.

Due to automation of processes, use of paper is cut down to a large extent which reduces heavy paper cost. Making minimum use of paper also benefits the environment.  

Having an institute management system is undoubtedly an investment, but it’s just an one time investment with definite returns. Though the initial cost may look like a huge sum to some institutes, it surely saves a large amount in many other ways & makes the institute highly automated at the same time.

Institute management system undeniably creates a win win situation for all educational institutes.

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