Teachmint, the creator of the Integrated School Platform (ISP), has added a comprehensive financial management feature, FinCloud, to the ISP.
This new feature claims to combine modules that manage tuition fees, accounting through integrations with tally and quickBooks and expense management, giving schools a holistic solution to manage financial operations.
The company has claimed in a statement that FinCloud is a verticalised solution for educational institutes that brings with it a wide range of benefits enabling school management to run transparent and efficient financial systems. It streamlines fee operations with accurate data tracking over a variety of fee structures, automating sending alerts to parents, maintaining transaction logs, and generating advanced reports for better insights.
As an integrated offering with the Teachmint Integrated School Platform, FinCloud fits in with other workflows and incorporates all stakeholder information. With deep fintech capabilities on payments, recurring collections and credit, it eyes to empower schools to optimise processes for financial management and minimise errors and delays.
"We are delighted to introduce the financial management offering to our integrated school platform," said Payoj Jain, Chief Product Officer and co-founder of Teachmint.
"With this addition, we aim to empower schools with a holistic solution that simplifies their financial operations and enhances transparency. We intend to continue expanding our offerings to employee payroll and other related financial services for schools through technology. We are committed to enabling educators to focus on what they do best - imparting quality education - while we take care of their management needs," he added.