Common Mistakes Done By Coaching Institutions
- Fees recovery – installments/EMI, PDCs, due-dates, tax, refund, penalty is the most complicated task for any institution
- Inquiry and followup is generally complicated. It must be timely and strategic based on past conversation with student. Also lot of dependency on specific counselor/emp due to no-centralized-conversation-log-system present in manual case. If he/she is on holiday the followup is generally get skipped. Excel based system cannot notify scheduled-followup. Improper followup results in business losses
- SMS and Email communication – Student contacts are stored in different excel files and sms/email communication system is different. This creates problem to share contact from one place to another.
- Time taking process to calculate income and expenses for given date range
- Attendance management through manual process is a difficult task. Specially when you need to send sms-notification to parent when their child is reached-institute or left-from-institute for security reasons(kidnap issue)
- Employee daily reporting is generally not taken care by institutions
- Data Sharing with students through Email or Pen-Drive or Google Drive is uncontrolled
- Monitoring and tracking of employee/counselor activity on daily basis is a challenging task
- Bad-debt and Refund analysis is complex for any business
- Income prediction for month/year/quarters is generally based on assumptions not on real facts or historical business data
- Historical Business Analysis takes around week or longer when requested during business meetings
- Batch and Course wise growth comparison with past year
- Time consuming business analysis like compare different factors on yearly/monthly basis
- Electronic data losses due to virus/malware/flat-files/shared files/Excel/PDF/unstructured network setup
- Data Security issue due to lack of Role, Permission and Access System presence
- Usually internal employee steal data and sell off to competitors
- Preparing data(expenditure – income/expense) for financial year reporting then sharing to CA for Balance Sheet Making; this takes couple of week and in fact difficult to gather such reports
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