There are few responsibilities as demanding and stressful as the collection of outstanding fees. It’s a task that often takes a toll on finance teams, diverting their focus from where their efforts and expertise are best utilised. Although following up on outstanding fees is an unpleasant and tedious task, it must be done.

For schools, the timely collection of fees is not just a necessity, it’s the cornerstone of financial stability. However, even in this critical area, challenges like outstanding debts and payment coordination are persistent and don’t seem to be getting easier.

When isn’t debt collection a burden?

Consider this scenario: A prestigious school with a stellar academic reputation finds itself grappling with a growing pile of unpaid tuition fees. The finance team, already stretched thin with budgeting and financial planning tasks, now must juggle the stressful, and time-consuming, task of chasing down these outstanding payments. This is not the job they signed up for, and given the emotional pressures involved, it’s often the job they would rather avoid.

This is where a financial partner, such as Findex, becomes your trusted ally in credit consulting. But unlike other financial partners, we focus not only on debt recovery but also on identifying the root causes of outstanding fees, all while alleviating the burden from your team.

Credit Consulting success stories

Faced with 22 accounts totalling a staggering $310,000 in debt, this education institute sought out assistance from Findex. Within 48 hours, Findex managed to secure $22,000 in payments and expertly organised $90,000 in secure payment plans across nine accounts. This example illustrates not only our dedication and efficiency, but the benefits of outsourcing your debt collection needs.

The benefits of partnering with Findex for Credit Consulting

• Efficiency: Findex's technology streamlines debt recovery, regaining funds swiftly. This means fewer resources expended and quicker results achieved.

• Secure payment plans: We recognise that each family’s financial situation is unique, and a one-size-fits-all approach to debt repayment simply doesn’t work. We create customised payment plans tailored to the specific needs of each institution and debtor, fostering co-operation and increasing the likelihood of successful repayment.

• Enhanced transparency: Transparency is key to minimising disputes. Our system provides a clear and comprehensive view of payment history and balances, reducing the likelihood of disagreements and disputes.

• Time and cost savings: With automation, we ease the administrative burden on your finance team. This allows your institution to reallocate resources to more strategic tasks, ultimately saving time and costs.

Key takeaway

Findex is committed to ensuring the financial stability and peace of mind of educational institutions. With our expertise, dedication, and proven track record, you can confidently trust us with your debt collection needs. Together, we can secure your financial future while allowing your team to focus on what truly matters – providing quality education and experiences to your students.

Don’t let the stress and frustration of outstanding fees continue to weigh down your finance team. Talk to us today about your debt collection needs and let our specialists help you transform your experience and help make your finance team’s job easier and more effective.