In this engaging webinar recording with The Educator Australia, we delve a little deeper into the hurdles educational institutions face in managing their expenses, shed light on the inefficiencies of current processes, explore the promising solutions that digital transformation brings to the table and hear how Taree Christian Community College has leveraged Budgetly’s technology to address these issues.

Let’s walk through our findings together:

80% use a shared card, 20% a digitised system (0% use petty cash / personal card)

Setting the scene, we dissected the challenges schools encounter in financial management. From budget constraints to manual processes, educational institutions often find themselves grappling with a myriad of issues from sharing credit cards for excursion costs and daily operations to relying on personal cards for payments and awaiting reimbursement. Results from the poll uncovered a staggering 80 percent of surveyed participants still use a shared card.

In addition, Budgetly also conducted their own survey of 1000 schools and findings revealed 70 per cent of respondents acknowledged they shared a credit card in some capacity. This data stems from outreach efforts over the past six months, directly engaging schools in conversation.

100% sometimes lose a receipt

Next, we uncovered the shortcomings of traditional expense management processes and their significant impact on school operations.

Tedious paperwork, delayed reimbursements, and a lack of real-time visibility into expenses are just a few of the pain points educators face on a daily basis. Poll results revealed all surveyed participants would lose a receipt at some point.

The webinar also highlighted the transformative potential of digitising these processes. By leveraging next-generation technologies, schools can streamline expense management, empower employees, and enhance overall efficiency and control.

Success story from Budgetly’s customer: Taree Christian Community College

One example of this transformation comes from Taree Christian Community College, where Budgetly's cutting-edge technology has revolutionised expense management.

By adopting Budgetly's solution, Taree Christian Community College has effectively addressed their financial challenges and embarked on a journey towards modernisation and efficiency.

“We didn't know there was a better way to do things. We found Budgetly and could see straight away it was a better solution.”

Kirk Peirce, Accounts Manager

Read the full case study >

60% are VERY interested in learning a better way!

The findings from the webinar are nothing short of eye-opening. Charting the results reveals a stark reality: many schools are still clinging to archaic systems, hindering their ability to adapt to the demands of the digital era.

In summary, the data confirms what we suspected all along: the education sector is in dire need of modernisation when it comes to expense management. The webinar recording serves as a wake-up call, urging schools to embrace digital transformation and leave behind outdated processes once and for all, with the poll findings revealing over half of surveyed participants are very interested in learning a better solution to tackle this.

Watch the on-demand webinar here >

If you’re in search for a transformative journey towards more efficient and empowered school expense management, Budgetly can help.

See how we work for businesses, schedule a demo with us today, or watch a 10-minute recorded demo.