Private University Financial Systems - Case study

Streamlining School Operations

Overview

Our team previously worked with Millennium Academy, a private and independent STEM school located in New Port Richey, Florida, specializes in teaching computer sciences to prepare students for college and careers in a rapidly evolving technological world. The academy faced significant challenges with manual internal processes, particularly concerning tuition payments, contract generation, and signing. The existing system was inefficient and time-consuming, prompting the need for a streamlined solution.

Challenges

The primary issues they faced included:

1. Inefficient Collation of Information: Manual processes led to errors and time delays in gathering required information.
2. Cumbersome Calculations: Necessary calculations for tuition and discounts were prone to inaccuracies.
3. Manual Contract Generation and Signing: The process was slow, error-prone, and lacked a standardized system.
4. Payment Transaction Management: Tracking and managing payments manually was labor-intensive and inefficient.

Objectives

They sought a solution to achieve the following objectives:

• Efficient collation of required information.
• Accurate execution of necessary calculations.
• Streamlined contract generation and signing process.
• Effective management and monitoring of payment transactions.

Our Solution

To address these challenges, we implemented a sophisticated database with custom automations to enhance and streamline the academy's processes. The key components of our solution included:

1. Centralized Database Implementation:
   • We established Airtable as the core database to collate essential information including parent and child details, payment methods, and contact information. This ensured structured, accessible, and easily readable data.
2. Automated Contract Generation System:
   • We developed a system where each form submission via Airtable corresponds to a unique contract. Factors influencing the cost of education, such as grade level, scholarships, sibling discounts, and personalized discounts, were integrated into the calculation schema.
3. Seamless Contract Generation and Signing Process:
   • The contract generation process was automated using a PDF format, which was then sent for electronic signatures through DocuSign. This facilitated simultaneous signing by the financially responsible parent and the school director.
4. Streamlined Payment Collection:
   • Post-contract signing, parents received a payment link with options for single, tri-annual, or annual payments. Stripe was employed for efficient payment collection.
5. Enhanced Payment Tracking:
   • Payments processed through Stripe were automatically logged in Airtable. The system also allowed for manual entry of payments made through alternative methods like cash.

Benefits Delivered

Our solution delivered significant benefits to them, including:

• Operational Efficiency: There was a marked improvement in operational efficiency, particularly in student registration and tuition payment processes, leading to an increase in applications.
• Cost Savings: The automation of manual processes resulted in substantial reductions in labor costs and freed up staff time for more critical tasks.
• Increased Transparency: The centralized data management provided a consolidated and transparent view of client data, enhancing overall transparency and accountability.
• Time Savings: Automation enabled faster delivery of results, allowing the academy to serve more clients without additional hires.
• Revenue and Margin Boost: The academy could now deliver results faster and at a fraction of the cost, boosting overall revenue and margins.

Tools Used

The implementation of our solution involved several key tools:

• Airtable for database management.
• DocuSign for electronic contract signing.
• Stripe for payment processing.

Process Overview

Our process for implementing these solutions involved several steps:

1. Full Operation Process Mapping: We charted the client's workflow to identify potential areas for automation.
2. Identify Automation Opportunities: Tasks suitable for automation were identified to enhance efficiency.
3. Build the Automations: Custom automations were crafted to fit into the existing workflow.
4. Test and Launch: Automation systems were rigorously tested and then implemented into daily operations.
5. Daily Monitoring and Optimization: Continuous oversight ensured that automations were fine-tuned and effective.

Guarantee

We guarantee significant improvements in operational metrics within three months, or we offer a full refund. Our clients achieve:

• Time savings
• Operational savings
• Enhanced operational transparency
• Boosted productivity
• Reduced manual labor

Conclusion

The transition from manual to automated processes has resulted in increased operational efficiency, cost savings, and improved service delivery. Our tailored solutions have enabled the academy to focus more on its core mission of providing top-tier STEM education while ensuring smooth and efficient administrative operations.

For more information or to book a discovery call, please contact us at david@aisisted.com

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