Taking cash out of schools

With automated payment methods and debit cards replacing traditional cash payments, it is becoming more common within businesses industries, and now, most recently, schools are switching to cashless. Figures from the Payments Council published on Education Business reveal that cashless payments overtook traditional cash payments in 2014 for the first time.

What are the benefits to schools going cashless?

There are many benefits of switching to cashless systems, one of which affects a school's budget and resources. Offering parents the ability to review their expenses and top-up their child's online account is a great way to boost a school's income and spending per pupil.

Although small payments such as those regularly made by parents for school meals, uniforms and educational trips contribute considerably to the overall school income, they can also create a market deficit when they go unpaid. 'Dinner money debt' is now a serious concern for schools, with one council in Wales recently revealing a debt of over £130,000 aggregated over five years. A cashless system diminishes the potential for unpaid fees.

Furthermore, taking cash out of schools benefits budgets by saving the hefty cost of the physical collection of money to deposit at a bank. Ami's cashless software generates daily, weekly or monthly reports with ease, providing access to information on meals consumed, overdue accounts and food wastage, all of which contribute to lowering costs and reduced administration time.

As for the benefit of a school's resources, cashless catering systems free up a considerable amount of time for the administration staff. Taking cash out of schools can cut down the tiresome task of physically collecting and chasing cash payments from pupils and parents via mail and telephone.

Software such as AMI's Infinity and Transact frees up these essential resources for use in other ways. Administration staff can easily monitor payments, view historical purchases, and make audit trailing a lot more efficient. Using cashless software, schools in the UK have saved on average two and a half days of administration time a month.

How do cashless schools benefit parents and students?

Taking cash out of the school system is not only time saving, but it gives parents the peace of mind that pupils spend money in the way as intended with online payments. Pre-paid school meals mean parents know that children use lunch money for healthy, nutritious meals.

Additionally, parents no longer need to send cash or cheques for circumstances such as school trips or extra-curricular activities. Ninety per cent of parents stated that they preferred to pay online, according to a survey from LACA.

Ami's cashless catering solutions also increase parent convenience and control. They are accessible from any location with an internet connection, optimising parents' increasing access to computers and hand-held devices. Almost one in 10 public school pupils are from overseas, so this level of access is beneficial for those families.

What are the benefits of removing physical cash from schools?

Removing physical cash from schools allows for increased student safety. Adopting a cashless system prevents age-old issues such as bullying, lunch money theft and potential misplacement or loss and eliminates any money safety issues. Students also no longer need to worry about forgetting to take cash to school and missing out on meals, as they are already pre-ordered and paid.

How can going cashless make a school more efficient?

Ami's cashless catering software is flexible and works around each school's requirements. During lunchtimes, for example, cashless software systems provide significant time-saving benefits such as reducing queues. Schools can cut down lengthy waiting times for their students and staff through quick and straightforward identification methods such as PINs, pre-order kiosks and more.

Pre-ordering meals in advance greatly minimise food wastage. Ami's software allows school meal service providers to know exactly how many portions of each meal option to prepare that day, eliminating over-catering and ensuring children receive the meal that they want.

What benefits does a cashless system have on a social level?

Cashless catering software removes any potential discrimination of students by providing ‘Free School Meals’ (FSM) anonymity. A recent LACA survey revealed that 4.9 per cent of pupils entitled to a free meal do not take up their entitlement. The stigma of FSM is still very much apparent in schools, yet with a cashless system, all students have the same method of payment option, regardless of their circumstances.

Cashless systems have also proven to promote healthy eating, encouraging pupils to eat the nutritious meals provided, which is exceedingly essential when tackling the childhood obesity crisis and leading to a better learning environment. Mealtime pre-ordering encourages parent engagement and allows parents to control what their children consume when they are not with them.