Education Sector

Use data, technology and analytics to manage the online student cycle

The private Education Sector has been growing at pace worldwide due to the increasing number of new e-learning entrants as well as new specialised education service providers

Finding the right students is business critical, but even more important is ensuring that students can afford their tuition fees over the education period. Should students miss payments, education business would want to ensure that overdue fees are collected in the most efficient way.

Analytics and technology are playing an important role in helping business in the Education Sector to address these crucial aspects and in some cases, are also playing a role in driving competitive advantage.  

Principa offers solutions to the Education Sector that cover the following:

New consumers acquisition

We offer both leads and lead analytics to the Marketing and Sales departments of educational business. Our solutions include the provision of new leads or, if your business already has leads, we provide leads analytics to ensure that for purposes of your business, your marketing spend is targeted at the right parents (or other responsible adult) or students. In combination with these new or existing leads, Principa also offers 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 younger applicants.

Customer origination solutions

Principa offers a customer on-boarding solution that allows for:

  • the capturing of applicant information and documentation
  • the automated assessment of the application (utilising rules and scorecards), and
  • the passing of the application through a workflow of activities and the case management of each application.

This solution also has the capability of accepting data from Principa’s AI chatbot solution.

We have vast experience in working with educational institutions to assess the risk of applicants and building credit scorecards for this purpose. These institutions require tuition fees and also occasionally allow for text books and devices (laptops or tablets) to be bought on hire purchase through the educational institution. In each such instance the institution is exposed to a potential credit risk and an appropriate credit assessment is required.

Collections solutions

Principa has been providing collections solutions for more than 22 years within South Africa, across the African continent and in the Middle East. Our advisory and collections platform has been implemented by the largest private education group in South Africa to manage their debtor’s portfolio.

Our collections service offerings include:

  • Specialised web based Collections management software 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 as well as arrangements for making payment
  • Our expert advisory team is highly experienced within collections and recoveries and can assist with creating data-driven strategies, doing current state assessments (CSA’s) aimed at identifying areas of improvement together with remedial recommendations. The team also has the capability to provide general operation consulting for operational optimisation, and
  • Predictive and prescriptive analytics, for data insights to predict human behaviour and drive optimal outcomes.

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