In: Finance
Over the years, students of the University of Professional Studies, Accra (UPSA), have complained about the mode of payment of school fees and other fees. Their main concern has been that students have to go to the banking hall of the University’s bankers and queue for long hours before they can make payment. The Student Representative Council (SRC) of the University has presented a petition on this matter to the University Council. The Council has directed the University management to take urgent steps to address the issues. The Finance Department of the University has appointed you as the lead consultant to help them address the concerns of students. Required:
a) With the aid of a diagram, identify the existing mode of school fees payment in UPSA.
b) With the aid of diagram, make proposal of a future school fees payment system.
c) How can your new payment system facilitate quicker registration of students at the beginning of each semester?
c) the new paymnet process can drastically improve the process and reduce time waste. Students can do this paymnet from anywhere in 2 minutes. No need to stand in queue or lose class hours. The university need to create a paymnet portan linked to various paymnet options. The student cam log into the portal using the registarion id , chols paymmey method , enter amount and authenticate paymnet. University records will be updated on real time basis. The record keeping for university will be automated, no need to do cash or check handling. The monpower requirement for cash/check collection can be eliminated and the registration at semister beginning will be smooth and seamless.