Checks & Balances: How to Save Your School Time & Money

Is your school looking for a way to save time and money?

Do you want to become more efficient while minimizing the chance of mistakes in the payment process?

Of course you do!

As they say, time is money – and switching to the right online payment platform can save your school both.

 

The Cost of Checks

A couple of years ago, the Wall Street Journal examined the cost to businesses of issuing and receiving checks: US Companies Cling to Writing Paper Checks. Bank of America estimated that the aggregate cost to a business of processing checks is between $4 and $20 when considering all it entails (“based on the price of the check and shipping, plus the time employees spend writing, mailing, collecting and reconciling the check.”)

As schools and business look for ways to become more efficient – to work smarter rather than harder – they’re finding one opportunity to improve is through online payment processing.

 

Save Time & Money with Online Payments

If you’re still asking parents to fill out a paper payment slip and mail it in with a check, you have an opportunity to save time and money for your school and parents. You have a chance to capitalize on The Digital Payment Revolution.

Schools can increase their efficiency and reduce costs by encouraging families to make payments online.

Parents are provided with added convenience and a better user experience – they can make a payment at any time from any device, without having to worry about their checkbook.

Schools streamline the money handling process while making it easier to track which students have paid which fees, whether it’s the upcoming field trip, an AP exam fee, or the cost for an online class, all while receiving the funds more quickly.

And the less time and money schools spend on processing payments, the more time and money schools can spend on their core mission of educating students.

Read more: 5 Ways Online Payments Can Make Payments, Teachers and Staff Happier.

5 Ways Online Payments Can Make Parents, Teachers and Staff Happier

 

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