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Budgeting For A University Management ERP

The successful implementation of any ERP for university management is based on the budgeting for it. It needs proper financial research and feasibility analysis related to it that eventually decides the cost and budgeting. Preparing for an ERP implementation budget for your university is not an easier task, it needs the same mind shuffling as you will need for any other project. You will need to learn several things about ERP budgeting for university management. So let’s discuss the budgeting of ERP in this blog.

It’s often a topic of discussion on what amount should the University invest in acquiring a University Management ERP System. It is usually a herculean task among the finance and IT teams of Universities in planning for a successful ERP implementation. Budget is usually the first parameter that a university’s management ponders upon while deciding to buy an ERP package. Let’s look at some of the important factors to discuss before finalizing the ERP. 

Factors Affecting the Budgeting of ERP for University Management:

  • Deployment model 

Deciding for a budget to opt for ERP you must take into consideration how you want to deploy it in your university like on-premise or Cloud ERP or any other. There are benefits of each deployment model. With all this, you need to check the price of the ERP model for your institute according to the formation model that you have chosen, the maintenance cost for every year is an additional factor. 

  • Licensing process

The licensing process depends on the formation model that you choose, there are two main categories for licensing, subscription or software as a service (SaaS) and on-premise license. Both methods include different patterns of the cost that you must understand after having a free demo with the university management ERP implementation team. You need to understand the hardware, database, and middleware software, etc. before proceeding further. 

  • Numbers of branches of the university 

The size of your institute, the number of branches it has, the functions and responsibilities, and of course structural considerations of your institute play an important role while deciding the budgeting of the ERP for university management. 

Whether you have just one university or several branches for it, you will require some users for a license that can control the ERP at every end, meanwhile, it is up to you to share the access with partners, suppliers, and extended users. 

  • Applications and special modules 

The university management needs to decide about the specific applications or feature sets that you must expect from your ERP, it is one of the most important factors for the evaluation phase of the ERP.

Looking for the functional area, the project team checks the challenges that the university is facing and which modules of ERP are more important for them to improve the overall process that can bring positive change.

So when setting a budget for university management ERP, the chosen applications and modules affect the costing.

  • Development and Customization 

After finalizing the application and modules of the ERP, you need to focus on the development and customization that you think are important for your institute, for example, if you are thinking to have a customized feature in the fees module that can keep the fees of especially disabled students in a different section than the budgeting for the ERP will include extra charges for the same.

  • Training for the ERP System

It is also important to understand completely about the ERP system to implement it in the future, so after deciding all the things the ERP implementation team will provide you a proper training program so that you and other users can understand it properly to get the best returns of the ERP system.

It involves a proper training program of the new or upgraded ERP system for the university, so while setting up the ERP budget, it must consider the pricing of the training courses, educational materials, and other useful things that can develop the training more effectively. 

  • Support and maintenance 

Having an ERP for your university, you will need maintenance of it from the ERP implementation and support team. So while setting up the budget it is necessary to calculate the cost of support and maintenance, in some cases it costs annually and it gets included with the overall pricing of the ERP system. 

  • Scalability of the ERP system 

While thinking about having an ERP system for your university make sure to consider whether it supports the current technological aspects and whether it will support the upcoming new trends in technology providing you continued growth and success. It is also important to check whether the ERP system will help in planning for the future growth of your organization. 

Conclusion 

So with the understanding of the above points, you must have known about the budgeting factors of a university management ERP. Academia ERP system will not only help in simplifying the overall management process systematically but also will open the doors of success and new achievements. Discuss today with us to collaborate as we are happy to join hands with a university that focuses to drive change and bring digital transformation.

 

 

If budgets are tight, Academia ERP offers you allthe bells and whistles when compared to other well-known ERP systems at a fraction of the cost.

Academia ERP: Software as a Service (SaaS) Model

The annual license is also known as the subscription or software as a service (SaaS) fees which are billed annually. Annual per-user-per-year fees are all-inclusive of the yearly license, technical support, software maintenance throughout the year. The subscription fees will decrease with more users, usually on a tiered basis.

The benefit of SaaS licenses are:

  • The license fees are spread evenly over the life of the contract.
  • Low upfront costs – only implementation services and first-year annual license.
  • Annual licenses are purchased out of an Institute’s operational budget which can be easier to access than an
  • Institute’s capital budget.
  • License Model

This is the original enterprise software licensing model. In the perpetual model of licensing, the client makes an upfront, one-time purchase of the Academia, and then the client owns the software.

With a perpetual license, the client usually has to decide on the number of licenses (generally linked to the number of students) the client needs upfront. The cost per license will decrease with more licenses, usually on a tiered basis. The major benefit of perpetual licenses is that client has to pay just once and they are set to use Academia forever. The client then will only have to pay a fixed AMC each year.

Online only universities in UK – Technology to the rescue

As universities in the UK shut down due to COVID 19 in March, students had to move online to attend live-streamed lectures and swap practical group work for remote assignments. In an attempt to deal with dwindling scholarships, travel restrictions and redefined visa rules, many prestigious universities have moved their courses online. Here is a look at how universities are adapting to a new norm, while using technology for remote learning.

With the pandemic calling for social distancing, it is likely to disrupt normal life for a long time to come. Hence, universities in the UK have shifted to offering online only classes. Leading the pack in the shift to online courses is the prestigious University of Cambridge, which will begin their online only academic year 2020-2021 from October 6. The university announced that it will move its entire course online for the 2020-21 academic year, scheduled to begin on October 6.

The University of Manchester has moved online for the upcoming autumn term with Cardiff University also moving most of its classes online after the summer break. Despite moving online and not being able to offer the intercultural experience that international students seek, it is also believed that top universities like Oxbridge etc will likely be able to attract and retain international students with the UK University degree tag.

In the last few months, there has been totally unexpected changes in the world which should be looked upon as an opportunity for universities to adopt people-centred technology and bring in digital transformation. Today, it can be safely said that the universities meeting this challenge will be the ones to thrive in the future. These universities need to adapt and expand their digital platforms to offer what students really want. The next step would include collaborating with tech companies to create affordable modular online course options, accessible to all.

Universities moving online will have to compete with new formats, including coding bootcamps like Le Wagon, Codeworks and Northcoders which offer quicker, cheaper courses in subjects like web development and data science with in-built industry connections. However, moving online also comes at a cost, Hence, universities in the UK will make sure their investment in digital transformation will be for the long term, especially when they had been lagging behind universities from other countries for years.

Modular Courses

The success of online learning has been experienced with institutes such as The Open University. In recent years, universities like Oxford, Imperial and UCL have also started experimenting with free MOOCS (Massive Open Online Courses) through FutureLearn with a paid upgrade option. These courses have proved to be highly popular with their affordability and accessibility and a degree from an internationally recognised University.

For online courses, the focus today has been moving towards modular courses or even short courses that can be availed from home, to match career choices. Here, technology makes these courses available with excellent existing programmes. For example, Zoom or Microsoft Teams platforms are being used to record sessions and provide apt online support for students. Workshopping technology like the whiteboard tool Miro is a great visual way of showing work. Augmented Reality which already existed in the gaming industry is being adapted to play a part in more practical courses.

Modular learning programmes allowing to pick and mix from different courses is likely to be the model going ahead with students having their virtual shopping baskets filled with the best modules according to their needs instead of signing up for a degree or a higher education programme irrelevant to them. 

Going ahead

The growth and adoption of education technology started even before COVID 19 with global edtech investments reaching US$18.66 billion in 2019 and the overall market for online education projected to reach $350 Billion by 2025. But with COVID 19, there will be a rapid rise in usage of online technology whether it was in language apps, virtual tutoring, video conferencing tools, or online learning software.

Practically, it may look like the future of UK universities is in mixing online curriculum and offline experiences, which is known as blended learning. This will enable social distancing on campus and enhance the experience of studying. Interestingly, some innovative UK universities such as the University of East Anglia (UEA) already offered blended learning even before COVID 19. 

With a consortium of 10 universities led by Coventry recently awarded £3.7m to develop partly online postgraduate conversion courses in artificial intelligence and data science, a lot of universities are taking the online route. The pandemic kickstarted a lifelong online learning agenda which will also skill up employees whose jobs will become automated in the future.

Finally, elite universities will have the advantage of their name and reputation to continue trading on, but for many other universities that bring in students because of location or for a specific course, the future depends on identifying other differentiators to bring in students. Future learning will hence be more about the quality of the learning experience and how geared up universities are to teach remotely in an innovative way using various technologies. 

To get the full benefit of online classes, there is a specific need to go beyond just replicating the physical class through video capabilities and instead, using different collaboration tools and engagement methods which promote inclusion, personalisation and intelligence. With an abundance of ready to use content available across different digital media to enable capability building and meet targeted challenges, Universities will need to use well-designed digital tools for sharing knowledge and support information. The role of technology in online learning will have to be explored to its full potential.

University ERP- Bridging The Gap Among Students, Faculties, & Parents

Communication is power, it creates a better relationship, builds trust and avoids disposal of improper information.

Even in education industry communication is very important. We are aware of the importance of connectivity and synchronization between faculties and students. But there are many more dimensions to cover to fill this communication gap.

It is prevalent that parents want to be involved in their children’s lives especially when it comes to academic performance. They want to be aware of how their kids are being taught, how they are performing, is there any behavior that needs to intervene, etc.

Not only between parents and student but communication also plays an important role between faculties and students. If a student is updated with all the lessons, assignment details, faculty’s availability and other related information; his awareness will increase and he will perform better. Same goes for faculty.

Here comes the need for a proper system that can enhance the connectivity among all the stakeholders of an institute.

What is University ERP?

University ERP is a software programme that manages all the academic processes within a university campus. It is also known with various names around the globe e.g. University Management System, Campus Management Software or Student Information System.

It manages complete student life cycle from inquiry to graduation till placement. A University Management System streamlines all academic operations with the help of many advanced features.

How a University ERP is connecting students, faculty, and parents?

A University ERP or University Management System such as Academia SIS provides an exclusive portal for parents, faculty, and students. These portals help them to see all the information they require.

University Management System Software- Academia SISWith the help of Parents Portal, parents can check the details of their children such as marks obtained, lessons taught, absentees, outstanding payments, disciplinary actions, etc. They can also track which faculty is running behind in his/her lesson plan and which one is performing better.

If parents stay aware of the performance of their children, they can take the required actions. Moreover, students perform better if their parents are aware of their academic activity.

If there are any inadequacies in performance or any other areas, parents can play their role to correct it.

Faculty with the help of Employee Portal can give assignments, homework to every student; individually or in a group which gives them the power to keep an eye on every student.

What are the benefits of University ERP?

In the olden days when our parents in college, their parents weren’t getting any academic or non-academic performance report of their children, only the mark sheet. Now the time has changed. With the help of Education ERP, parents can be aware of everything their children’s activity from beginning to end, which builds a meaningful and strong relationship among students, parents, and institutions.

Education ERP is the future

It is well known that Education Technology is going to replace all traditional and manual academic processes in the future. University ERP or Student Information System (SIS) brings the parents and institution on the same page, that ultimately leads to a healthy and successful student life cycle.

Is your university ready for an advanced management system? Take the first step and book a free demo now!!!

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