Use data, technology and analytics to manage the online student cycle
The private education sector is growing at pace globally due to an increase in new e-learning entrants as well as new specialised education service providers
Finding the right students is business critical. Even more important however, is ensuring that students can afford their tuition fees over the education period. When tuition fee payments are missed, education businesses would want to ensure that overdue fees are collected in the most efficient way.
Analytics and technology play an important role in helping business in the education sector to address these critical aspects and in some cases, also play a role in driving competitive advantage.
New customer acquisitions
We offer both leads and lead analytics to the marketing and sales departments of educational business. We provide new leads or, if the business has existing leads, we provide leads analytics to ensure that for purposes of the business, the marketing spend is targeted at the right parents/responsible adult or students. In combination with these new or existing leads, we also offer an intelligent Ai chatbot channel with the capability to screen or onboard new applicants using innovative methods to access risk and affordability. The chatbot solution can be accessed using SMS or an email link and is a great channel for use by younger applicants.
Educational institutions require tuition fees and occasionally allow for text books and devices such as laptops or tablets to be bought on hire purchase through the institution. In each instance the institution is exposed to potential credit risk and an appropriate credit assessment is required. We have vast experience in working with such institutions to assess the risk of applicants and building credit scorecards for this purpose.
We offer a customer on-boarding solution that allows for:
- capturing of applicant information and documentation
- automated assessment of the application utilising rules and scorecards, and
- passing of the application through a workflow of activities and the case management of each application.
The solution has the capability of accepting data from our Ai chatbot solution.
Our collections service offering include:
- Specialised web-based for the strategic management of outstanding accounts, by combining data-driven strategies with automated actions within an easy-to-use web interface
- Digital self-service capability within the preferred communication platform 24/7/365, assisting customers with statement requests, balance enquiries and arrangements for making payment
- Collections advisory where our advisory team that is highly experienced within collections and recoveries can assist with creating data-driven strategies, doing current state assessments (CSAs) aimed at identifying areas of improvement together with remedial recommendations. The team has the capability to provide general operation consulting for operational optimisation
- Predictive and prescriptive analytics for data insights to predict human behaviour and drive optimal outcomes
Our advisory and collections platform has been implemented by the largest private education group in South Africa to manage their debtors portfolio.