Inoapps Student Funding
Cut time and effort around funding administration
Automate and manage complex student funding
Higher Education institutions in the UK handle funding from multiple sources, with funding often paid in instalments at key periods of the academic year. Administration of these funding procedures is a major ongoing commitment for Finance teams, requiring high levels of manual processing and intervention, error checking and reporting.
Extend the power of Oracle Cloud Financials
Inoapps Student Funding works alongside Oracle Cloud Financials to take valuable administrative time out of managing complex and intensive tuition funding programs. It automates the receivable accounts and the offset of individual student accounts, working with any student system that may be employed by HEPs in the UK.
What will Inoapps Student Funding do for you?
- Improve efficiency and free up Finance team time
- Handle both student tuition fees and accommodation fees, allocating them correctly
- Enable deep reporting on different circumstances and student cohorts
- Track the total institutional amount owed by or to relevant sponsors
- Works with any student system that may be employed by UK Higher Education Partners
Functional highlights
- Enables the management of third-party debt in Oracle Cloud Finance, regardless of sponsor
- Automates the maintenance of Student Loans Company (SLC), Student Award Agency for Scotland (SAAS) and other sponsor receivable accounts and the offset of individual student accounts
- Enables accounting best practice where funding for the year is offset even when disbursed across multiple payments
- Enables reporting on different circumstances and student cohorts
Key benefits
- Supports the administration of student fees paid by a third party
- Calculates alterations required in Oracle Cloud Financials to move debt from student to sponsor accounts
- Provides reporting that tracks whether funding has been received as indicated
- Imports detailed remittance files provided by funding bodies
Inoapps Higher Education Cloud
Inoapps Student Funding is part of Inoapps Higher Education Cloud, created to aid with the challenges of standardizing processes across schools and faculties facing vastly different and evolving requirements and priorities.
The products in this portfolio help ensure the accurate and timely completion of necessary complex administration tasks to improve your staff and student experience so they can better concentrate on the business of education and research.