Teachmint, a leading education infrastructure provider and creator of the Integrated School Platform (ISP), an all-in-one school digitization solution, has announced the addition of a comprehensive financial management feature, FinCloud, to the ISP. An official statement said that this new feature combines robust modules that manage tuition fees, accounting through integrations with Tally and QuickBooks, and expense management, giving schools a holistic solution to manage financial operations.
According to the company, FinCloud is a verticalized solution for educational institutes that brings many benefits, enabling school management to run transparent and efficient financial systems. It streamlines fee operations with accurate data tracking over various 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 optimize processes for financial management and minimize errors and delays.
Speaking about the initiative, Co-founder & Chief Product Officer of Teachmint, Payoj Jain, said:
We are delighted to introduce the financial management offering to our integrated school platform. 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 care for their management needs.
The feature seamlessly integrates with Tally and QuickBooks to ensure seamless collaboration with existing accounting processes. The integration synchronizes all stakeholder data from cash inflow and outflow with Tally and QuickBooks, eliminating manual data entry and ensuring accurate financial reporting and transparency at scale.
Another highlight of this expansion is Teachpay, a cutting-edge fintech product introducing modern payment technologies to schools. With Teachpay, schools can offer online payment options, set up automatic debit for fee payments, and provide tuition fee financing for flexibility. FinCloud also includes expense management that empowers schools to track different cost categories, providing a comprehensive financial health overview. This allows schools to identify cost-saving opportunities and manage expenses efficiently.
The company continues to innovate and enhance its platform to cater to the evolving needs of educators and educational institutions worldwide. The financial management feature is yet another step towards providing schools with a comprehensive suite of tools that streamline administrative processes, optimize resource allocation, and foster a conducive environment for teaching and learning.
Teachmint aims to expand the potential of education. The ISP, the company’s flagship offering, empowers all stakeholders at a school with a one-stop solution equipped with advanced administrator tools, a modern learning management system and a unique all-in-one fee payment solution. Since its inception, the firm has enabled millions of educators to create global, future-ready classrooms with its proprietary technology. With its innovative and powerful SaaS solutions, Teachmint today is catering to the end-to-end needs of all education providers from K-12 schools to after-school tutoring, universities, creators and even EdTech.