The purpose of a good financial management system is to ensure your staff are saving time, helping processes run as efficiently as possible and helping to produce accurate reports without hours of manual labour. Over the past decade, financial software has changed the way organisations not only operate, but how they report. The introduction of such technology has enabled detail analysis of elements from across businesses, and in the Education sector, across Multi Academy Trusts (MATs), but not all systems are enabling institutions to evolve in this way.
When it comes to financial software, and finding the right fit for your school, ensuring you have the functionality within systems to make life easier is critical, which is why it is important to consider factors such as ease of use, customer support, software downtime and limitations in functionality when finding one. Not taking these elements into consideration can have a direct impact on the level of productivity in your school office, impacting efficiency, which ultimately is the reason you introduced the software in the first place. How often does your software provider provide a chance to discuss support issues or a system upgrade?
System upgrades are often promised to alleviate these problems; however, these are frequently delayed month after month, leaving you with outdated software which is potentially less efficient than your manual processes. Without your current system having regular upgrades and being invested in to keep you ahead in the sector, you are at risk of falling behind – both with workload and processes.
As a growing Academy or Multi Academy Trust (MAT), using the latest technology to help run day-to-day processes, it’s important that your financial management system can grow with you, not hinder you. So, with a system upgrade pending, why not look at switching your current solution?
These schools switched and have never looked back
Peter Young, Chief Finance Officer at Canary Wharf College, wanted a system that gave him the confidence going forward. He told us, “We found that PS Financials was dedicated to the education sector and we had the confidence in the team and the software to handle our needs for the long-term future, including ensuring that our reports are produced to the latest standards”.
The Fernwood School’s Business Manager also commented on reporting needs not being met by their previous system, saying, “I found our previous software cumbersome and difficult to use. It was not able to do simple tasks such as securely import journals from Excel or copy screens to Excel without a lot of effort.”
The Diocese of Oxford’s Finance Director added, “We didn’t feel our previous software met our existing or future requirements as a growing Multi Academy Trust. It was a no-brainer. It is pretty clear that PS Financials is the preferred choice for MATs, the reporting suite is fantastic.”
Having changed their financial management systems to PS Financials, and now using the latest technology, these schools have found their efficiency has improved drastically which has eased the pressures on their resource.
Why PS Financials?
Within PS Financials’ system, all the statutory reporting structures/analysis is done within the system, meaning the information can be taken from the “raw data” and can be used in any way you require. Unlike other systems, which require large amounts of data manipulation, consolidation and the pulling of reports in order to extract information from the system, PS Financials has been designed and developed from the ground up in a way that ensures this process is as intuitive and flexible as you need it to be.
With the system also being Cloud-based, down-time is dramatically reduced for users and installation and maintenance are easier as a result of less IT infrastructure required, which makes maintaining and managing the system less intense. This aids when MATs are developing and growing as expansion of the system is simple to execute. The ability to automatically consolidate ledgers makes PS Financials stand out from the competition; the real-time consolidation eliminates the typically manual task common in other systems, improving efficiency.
PS Financials’ system is feature-rich with strong experience in the Education sector used by 67% academies, making it ideal for all Academy and MAT models. Its infrastructure enables Academies and MATs of all sizes to utilise the system and no restraints for those that continue to grow.
If you would like more information on PS Financials and how it compares to your current system, contact us on firstname.lastname@example.org