As the world transformed based on competition which encouraged the tenancy of higher competition, NetSuite introduces a lot of possibilities that can support various industries. Education – The process of learning or acquisition of knowledge and skills. Education shaped the history of humanity. NetSuite as an efficient Enterprise Resource Planning (ERP) solution which supports the functionalities of the education industry. It can able to transform the education industry to digital and operates based on how it serves its clients.
Educational organizations can make use of the business management solutions of NetSuite to optimize their operations.
NetSuite edERP – a complete school management solution that helps to manage all aspects of schools or universities in their finances, budgets, enrollment, student record, admission, and transcript information.
NetSuite edERP Features
Education industry supports the following industrial functions.
1. Financial planning and management
2. Human resources planning and management
3. Governance and accountability
Financial planning and management include budget development-capital or investment, recurrent or operational, budget allocation, fees settings, setting criteria for scholarships and fee collection and salary dispersion.
Budget allocation towards services and activities within an organization:
• It includes the budget for extra-curricular events like arts day and sports day.
• If any scholarships are provided for the students, then it should also be included in the budget.
• Budget allocation for the canteen.
Setting up Fees:
• Decide a fee structure for each sector
• If any extra coaching or service is provided (which is not free of cost), then the budget should be allocated.
Benefits of NetSuite edERP
1. Student admission management
2. Course administrator
3. Course management
4. Fee management
5. Donor management
Human Resources Planning and Management in Education Industry
• Deciding the number and type of staff required for academic and non-academic level
• Hiring, training, and firing staff
• Setting staff salaries and allowances
• Performance assessment of teaching staff in the organization
• Faculty Development Programmes
• Setting and awarding staff incentives – financial
Governance and Accountability
• Conducting examinations at regular intervals
• Formation of the examination committee
• Scheduling the timetable
• Preparing question paper
• Deciding the exam centres
• Examination application
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