Select Page

While the technological challenges mount for higher ed, so do the logistical ones. Younger generations of students that have been raised with iPad and iPhone in hand increasingly expect all experiences to be accessible via an app. Registration, administrative processes, paying for books and tuition need to be seamless experiences.

Perhaps more importantly, institutions are struggling to reduce expenses that could otherwise be spent on acquiring top talent in faculty and researchers and better equipping research labs and classrooms. Yet the mounting costs of updating rapidly evolving technology is causing some to take shortcuts that ultimately cost more.

Syncing Feeling

As the campus’ system of record, ERPs need to be updated and accurate to function properly. This includes payments integrations that enable real-time insights across departments. Unfortunately, many colleges and universities are not using fully integrated payments systems or even partially integrated systems due to the cost of updating legacy systems. This leaves room for error and can double the work for staff.

When payment systems aren’t integrated with ERPs, staff are tasked with manually updating transactions from various payment systems across multiple campus departments. Both systems are not synced until the update is made. Lack of real-time insights and accounting information not only causes headaches internally, but does not present an optimal experience for students. Those checking their accounts to verify that tuition payments have been made or that meal plans have been updated will likely have to wait until the systems are synced, which could cause a lapse in services.

Payments, Interrupted

This issue is aggravated when hiccups occur during payments. If a credit card payment declines or a check bounces after the ERP has been updated with a record of the payment, someone must log back into the system to manually reverse the transaction. It becomes painfully obvious how this process is rife with the potential for user error.

The amount of manual work that must occur when these two systems are disconnected is extensive. It is a time- and resource-drain that translates poorly to the user experience as well. Consider the cases where universities are issuing funds to a student, either as a refund or part of a financial aid package; rather than being able to transfer funds directly from the ERP into a student’s checking account, the institution must issue a check and follow the lifecycle of that disbursement while manually updating two disparate systems.

Any system that requires multiple updates to data sources has the potential for redundancies and errors. Fully integrating systems that track data into a single source of truth (the ERP) can eliminate mistakes, streamline processes, and dramatically reduce manual workloads.

Tag Team Integration

Arrow Payments specializes in helping higher ed institutions optimize payment solutions.

Our team streamlines payments across all campus merchants and departments, including PCI DSS compliance considerations. Our ultimate goal is to help institutions reduce administrative burdens across the board while being secure.

We do this through our extensive discovery process, where we identify key issues and recommend a course of action. From there, we can work with your team to implement. That isn’t where our work ends, either. We continue to provide long-term customer service and support, augmenting staff where needed and providing ongoing expertise as an institution grows and evolves.

If you are looking for a reliable partner with deep knowledge the higher ed space, contact us today.

Thought Leadership

Recent Insights

Check out the latest trends and reports from Arrow Payments.

Digitizing Payments for Higher Education 

Digitizing Payments for Higher Education 

Digitizing payments for higher education is essential as online payments are pervasive. Digital payments penetration reached 89% last year. What’s more, the number of people who report using at least two types of digital payments has grown from 51% in 2021 to 62% in...

Evaluating Higher Education Vendor Security Risks

Evaluating Higher Education Vendor Security Risks

Higher education vendor security risks must take center stage for colleges and universities. Schools work with dozens of third-party vendors that pose serious security vulnerabilities. When it comes to payments vendors, the stakes are higher.  Without a solid vendor...

University Incident Response Planning Guide

University Incident Response Planning Guide

Cyberattacks have become an unfortunate reality for many institutions, including colleges and universities. A 2023 SonicWall report highlights how malware attacks against colleges and universities increased significantly between 2021 and 2022.  Higher education...

Gain Visibility into Your Higher Education Payment Systems

Find out what’s happening in every department and start building solutions that address fundamental needs.

Start My Discovery