Press | 15 Jun 2018

iSAMS Launches Integrated MIS and Accounting Solution for Schools

iSAMS announced today the launch of the company’s new Finance Solution – iFinance. The iFinance solution brings together the academic, pastoral, administrative and fee billing elements complete with an accounting system to help schools eliminate unnecessary duplication of work and reduce costly mistakes.

“We have spoken at length with bursars and senior management about the frustrations of disparate systems, particularly finance systems not linked with the school’s chosen MIS. Following this feedback, we have worked with a partner to develop a new integrated finance solution, iFinance.”

Jamie Reid, Sales Director

The iFinance solution was developed to assist in synchronising different sets of data to provide schools with a solution that combines two of many difficult elements in a bursars’ daily work tasks – complicated fee billing and accounts and balances.

The iFinance fee billing feature allows account departments to generate bills and add charges in several different ways for specific applicants, current students and alumni. The feature enables the bursary to amend invoices and synchronise this data with a sales and nominal ledger. The flexible deferred income functionality removes the need for monthly journals to be calculated and posted. Featuring a comprehensive suite of interactive reports for pre and post invoice, historic invoices and ad-hoc reports.

The iFinance accounting, consolidation and business intelligence features offer the bursary the capability to generate predefined and custom reports profiled by user. The fully-interactive reporting allows the user to drill down to transaction level and produce customised analysis, which can then be exported to Word, PDF or Excel. The Bank Reconciliation feature allows the user to allocate funds received against outstanding balances, with the balances being fed back to the Fee Billing feature. The approval workflow process enables schools to adopt a paperless purchase order and invoice environment.

The launch of the iFinance solution from iSAMS means schools can benefit from an all-in-one integrated MIS and accounting solution. It offers comprehensive fee billing and powerful accounting functionality which is presented to schools as a secure cloud-hosted solution. It will assist the school bursary to enhance data workflows, gain access to key information for analysis and generate sophisticated reporting for senior management.

Any Questions?

If you would like to learn more about the iSAMS iFinance solution contact us on +44 (0)1604 659100 or email [email protected]

More Press

Press | 25 Jan 2024

iSAMS launches upgraded Ideas Portal for user feedback and system innovation

iSAMS has announced the launch of the upgraded Ideas Portal for iSAMS schools. This new, clearer, and more comprehensive platform will enable staff who use iSAMS at their school to provide feedback on the system and communicate new ideas to the iSAMS product and development teams.
Read more
Press | 18 Sep 2023

iSAMS Launches Central: A Powerful Reporting Solution for Independent Schools

iSAMS announces the launch of its game-changing BI reporting solution, iSAMS Central. Harness the power of your school’s MIS data with data analytics driven by Microsoft Power BI and API technology for improved school performance.
Read more
Press | 22 Jun 2023

iSAMS partners with Social Media Check

iSAMS partners with Social Media Check to enable schools to easily and quickly perform automated checks on potential candidates, and helps schools to align with recent updates in KCSIE guidance, requesting that schools consider carrying out further due diligence relating to candidate social media accounts. Social Media Check scans private and public posts across major social media platforms using the latest machine learning technology and algorithms. Since the process is fully automated, it reduces the risk of unconscious bias in the search process for each candidate. 
Read more