Teachmint launches FinCloud, enabling seamless cash flow and financial management

Bengaluru, July 07, 2023 – Teachmint, creator of the Integrated School Platform (ISP), today announced the addition of a comprehensive financial management feature, FinCloud, to the ISP. This new feature combines robust modules that manage tuition fees, accounting through integrations with Tally and QuickBooks and expense management, giving schools a holistic solution to manage financial operations.

FinCloud is a verticalized solution for educational institutes that brings with it a wide range of benefits enabling school management to run transparent and efficient financial systems. As an integrated offering with the Teachmint Integrated School Platform, FinCloud fits in with other workflows and incorporates all stakeholder information at the click of a button. With deep fintech capabilities on payments, recurring collections and credit, it will empower schools to optimize processes for financial management, and minimize errors and delays.

“We are delighted to introduce the financial management offering to our integrated school platform,” said Payoj Jain, Chief Product Officer and co-founder – Teachmint. “With this addition, we aim to empower schools with a holistic solution that simplifies their financial operations and enhances transparency. We intend to continue expanding our offerings to employee payroll and other related financial services for schools through technology. We are committed to enable educators to focus on what they do best – imparting quality education – while we take care of their management needs.”

FinCloud streamlines fee operations with accurate data tracking over a variety of fee structures, automating sending alerts to parents, maintaining transaction logs, and generating advanced reports for better insights. To ensure seamless collaboration with existing accounting processes, the feature seamlessly integrates with Tally and QuickBooks. The integration synchronizes all stakeholder data from cash inflow and outflow with Tally and QuickBooks, eliminating the need for manual data entry and ensuring accurate financial reporting, transparency at-scale.

Another highlight of this expansion is Teachpay, a cutting-edge fintech product that introduces modern payment technologies to schools. With Teachpay, schools can offer online payment options, set up automatic debit for fee payments, and provide tuition fees financing for flexibility. The FinCloud also includes expense management that empowers schools to track different cost categories, providing a comprehensive overview of their financial health. This allows schools to identify cost-saving opportunities and manage expenses efficiently.

Teachmint continues to innovate and enhance its platform to cater to the evolving needs of educators and educational institutions worldwide. The financial management feature is yet another step towards providing schools with a comprehensive suite of tools that streamline administrative processes, optimize resource allocation, and foster a conducive environment for teaching and learning.

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