CASHNet Resources
Problem
Payment Plans were provided through an outsourced service and so the University had difficulty in presenting customized plans with real-time updates from student system.
Goal
Provide improved levels of efficiency and higher service levels without increased burden on the bottom-line and IT resources
Solution
CASHNet MyPaymentPlan
School
Sussex County Community College
| The Challenge | The Solution | Results |
|---|---|---|
| The infrastructure and technology to support online payment plans in-house did not exist. Payment Plans were provided through an outsourced service. | Selected CASHNet MyPaymentPlan for their students to enroll and make online payments. | Now offers online, all the time automated payment plan processing. |
| Needed to establish a seamless connection between the student system and the payment plan for real time integration: The outsourced vendor imported data as a batch file on fixed days in a month. | MyPaymentPlan offers students the flexibility to view and select payment plans tailored to their specific curriculum. School administrators control and manage payment plans. | The school has retained enrollment fee revenues while providing higher service levels. |
| Need to present tailored plans to specific groups of students: Current Term plans, Past Term plans and for Allied Health and Continuing Education progress. Sussex needed administrators to be able to create unique plans for special circumstances | Tuition balances are updated real-time and plans recalculated based on changes to financial aid or adding/dropping units. | Reduced administrative work due to tighter integration with student system ensuring seamless data transfer and automatic financial updates. |
| Required a system that would enable the University to measure key success metrics with consolidated reports from 2 or more systems. | CASHNet MyPaymentPlan provides a single customized view of all the different plans in a university. For Sussex 4 plan options - Current term charges, Past term charges, New Pathways to Teaching and Allied Health programs were incorporated. | Manual and labor intensive reconciliation caused by the outsourced vendor was eliminated. Sussex saved time and eliminated phone calls for an improved cash flow as deposits go to the institution’s bank account daily. Students or authorized payers can sign up for plans tailored to their needs and stay in-sync with their account balance. |
" Today marks a new milestone for the
Student Financial
Services office. We will Go-Live with CASHNet for PeopleSoft student
account payments, Pinnacle A/R payments and departmental deposits. Substantial improvements in functionality have been achieved.. Please join
me in congratulating the CASHNet Implementation Team "
Eric Armstrong,
Stanford University