Question

In: Finance

Over the years, students of the University of Professional Studies, Accra (UPSA), have complained about the...

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? (

Solutions

Expert Solution

Attached herewith is the diagram depicting the current payment process by students in UPSA and the proposed new process .( Ans a +b)

Anc C.

In the new process the University needs to create a payment portal that the students can access remotely. The student can log in to the paymnet portal using his/her registraion number. The student can chose the paymnet mode, the amount and authenticate the payment. Then paymnet will be reflected in University's account in real time and the university's records will be updated automatically. The process will take hardly two minutes and the student can do the payment from anywhere without standing in queue and losing class hours. It also helps the university to save man hours and do the activities seamlessly and much quicker during start of the semester.


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