Financial Excellence at Teerthanker Mahaveer University
How TMU revolutionized fee collection, achieving 98% on-time payments through automated reconciliations and multi-channel payment gateways.
The Challenge
Handling finances for a university of 18,000+ students is a monumental task. Teerthanker Mahaveer University (TMU) was heavily reliant on manual banking processes. Students stood in long queues to deposit demand drafts, and the finance department spent weeks manually matching bank statements against student ledgers.
This archaic process not only frustrated students and parents but also resulted in significant delays in revenue realization, high error rates, and constant disputes over fee defaults.
The AIcampus+ Solution
TMU selected the AIcampus+ Financial Suite to overhaul their entire fee collection infrastructure, focusing on automation and accessibility.
- Multi-Channel Gateways: Integration with major banking gateways allowing parents to pay via UPI, Net Banking, and Credit Cards directly from the Student Portal.
- Auto-Reconciliation: Bank statements are automatically fetched and mapped to individual student accounts using virtual account numbers (VANs) and APIs.
- AI Defaulter Prediction: The system automatically flags potential defaulters based on payment history and sends automated SMS/Email reminders.
The Results
The impact on cash flow was immediate. By the second semester, TMU reported a 98% on-time fee collection rate, up from 75% the previous year.
The finance team went from spending 15 days on manual reconciliation to generating a clean, accurate financial report with a single click on day one of the new month. Student queues outside the fee counter were completely eliminated.
"The automation provided by AIcampus+ didn't just save us time; it secured our university's financial health and significantly improved the student experience."
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