Parul University saw 60% improvement in Fees Collection Cycle post partnership with Easebuzz Payment Solutions
India, 15 September 2022: Last two years, India’s education sector saw massive transformation through digitization, right from teaching to exams and evaluation. Now education institutes are digitally transforming their administration and Fee Management too. One of the leading private universities in India, Parul University has seen a 70% cost reduction and 60% improvement in the fees collection cycle as they digitized the entire fees collection process with the help of Easebuzz.
Parul University has been using the FeesBuzz solution from Easebuzz to automate their fees collection process. The University has been able to reduce 90% of efforts in manual reconciliation of fee collections
”We have seen immense improvement in our fees collection process with Easebuzz as they have automated and digitized reconciliation for us. Even for parents, it has become a secure, faster and easier way to pay the fees. Typical challenges like fee refunds, defaults, and splitting fees between departments as per batches or courses are solved easily with the solution provided to us. Easebuzz also created a product based on our requirements which has helped us to be a digitally empowered university” said Dhruvil Shah, Dean for Student Welfare, Parul University.
“Our effort has always been on understanding the root cause of the problem. A fee payment process has multiple nodes to be reconciled once the payment is done. Our team has designed a comprehensive product which not only automates, tracks, reconciles the fees collection but also makes sure that Institute can create a robust database around students, courses using smart forms”, said Rohit Katyal, Group Head – Business at Easebuzz
Universities generally have a complex financial operating system as there is a central university admin account, then multiple colleges and different departments. Parul University said the fundamental requirement was to deploy a system which lets us manage the entire administration system digitally and make education fee collection faster, and easier for students as well as the accounts department of the University.
FeesBuzz is an API-based SaaS Solution for managing and accepting student fee payments as per courses and batches. Institutes and students can leverage the one-stop Fee Payment Platform that facilitates student admission modules, fee management modules, auto reconciliation, fee refund management, reports and analytics.