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Can ERP Software Put the Teaching Back into the Education Industry

You’re probably always trying to think of ways to spend more time teaching your students and less time running what is essentially a mid-sized business. In fact, at times it’s probably like juggling two businesses at once. With the education industry being so competitive it’s important to get ahead and keep ahead and that is where ERP software may be your answer. Of course, not all solutions are the same, and you’ll need something that meets the enterprise-level accounting and financial reporting needs of educational organisations.

ERP Software

We took a deep dive into the world of ERP software and produced an essential guide on what you need to know:

. What is ERP Software

In simple terms, ERP or Enterprise Resource Planning software is a package or suite of applications that facilitates the integrated management of key business functions forming a business management system. In terms of educational institutions, this translates to providing solutions for things such as financial management, customer service, inventory management, project accounting and much more. The right ERP software solution can support your entire operation, meaning you are more efficient and have more time to spend teaching.

. Choosing the Best ERP Software Solution

The best solution will be built with education in mind, designed by specialists who understand the needs of your sector in Australia and New Zealand, with a comprehensive set of tools for financial management, project accounting, auditability and governance, stakeholder service, and more. The best ERP software for schools will be designed to streamline organisational processes, automate tasks, and provide real-time insights into key performance indicators. The ERP software you choose should be a reliable, stable, well-supported, powerful system that can be tailored to meet your needs.

. Choosing the Right Implementation Partner

Whilst ERP software can be the solution you have been looking for, to get the best results it’s not just a case of buying a package off-the-shelf, you will want guidance and support from a technology partner who is experienced in implementing ERP software solutions for educational organisations, because they will understand how it can be tailored to meet your specific needs. A reputable partner will have a dedicated team who take the time to fully understand your organisation and adapt the ERP to meet your needs.

. Cost of Implementation

You won’t be surprised that implementation costs vary, because no two organisations are the same and every site will need something different. You may not require all the functionality that the ERP can provide, at least not to start with, and so you should only pay for the modules you use, and the number of users. As a guide, you can expect to pay somewhere in the region of $50k to 100$k to implement a typical system using a reputable partner, however, more complex organisations may be outside this figure. In addition, this type of software invariably comes with ongoing licence fees which may range between $2k and $5k per month. A reputable technology partner will be able to provide you with a quote for implementation, ongoing licences, and support.

. Training and Support

ERP software can be daunting to the untrained, and therefore your technology partner must have a comprehensive training package and tools available to help you. This may be through online learning, or even training portals that present you with upcoming events and topics of interest. Failure to provide effective training is often the difference between implementation success and failure and a good partner will consider support as an extension of the training. Having the right help when you need is key to staying productive and motivated. Training is also an effective way to boost employee engagement and make staff feel more valued. Click here for more ways to enhance employee experience in the workplace.

. Security – Nothing Left to Chance

When you’re using ERP software to manage your organisation, you are entrusting a lot of data with that provider, so they must take security more seriously than you do. A good ERP solution will offer two-factor authentication (2FA), using a dedicated app, email, or SMS to secure logins. However, it goes beyond just logins, and you should look for software that implements industry best practices such as globally recognised ISO 31000 Risk Management Standard; security controls based on ISO 27001 Information Security Management Standard; use of secured encrypted channels, compliance with the Australian and New Zealand privacy laws, including the Australian Privacy Principles, and utilizes the same security measures required of banks and other financial institutions when transmitting data. As a final stamp, an exceptional ERP solution will have been tested by external security vendors.

So, if you are looking for a way to streamline your organisation, ERP software is certainly an excellent choice, but if you’re still not sure where to start, contact a reputable technology partner and remember, as with any software, the security of data is critical. Click here for more information on cyber security.