Elementary education as well as upskilling by professionals is transforming the education and the edutech sector for specific needs and rapidly evolving technology. Online classes, assessments, and exams have become a norm during the pandemic, and have given a boost to the role of automation and AI in learning. The integration of cloud technology and robotics in the education sector is pushing the envelope for personalized and adaptive learning and providing a far more flexible and customized learning experience.
Education & EduTech
Technology in Education
Education technology with effective and accessible innovations of eLearning, Extended Reality (augmented and virtual), AI-enabled adaptive learning, and gamification are enhancing the visual learning process for children and adults. TechCrunch reports that global edutech venture capital investments totaled more than $10 billion in 2020, up from $500 million in 2010.
Practus has assisted several family-owned, PE/VC backed, and privately-owned companies achieve business and financial excellence using automation for admission, P2P, and HR processes, cash flow reporting, MIS time reduction, F&A process improvement, cost budget preparation, working capital management, statutory compliances, CFO and interim finance controller as well as redesigned the LMS.
Formal education is a primary necessity and the rising literacy numbers display how much it is valued. Unfortunately, the biggest stumbling block is the lack of quality education. Due to rising disposable incomes, there is a clear preference for private schools over government schools. However, the high initial capital investment, complex and rigid government laws, availability of qualified staff are key reasons why the private players have so far been conservative when it comes to investing in K-12 education. A pan country educational brand with an international collaboration to provide international standard quality education can be a game-changer. The K-12 institutes struggle with pricing decisions for admission and tuition fees, funding/capital management, cash flow management, cost optimization, franchisee management, and compliance management.
Practus provides business models, forecasts, business plans, MIS, fundraising assistance, continuous budget monitoring, and software integrations for better efficiency and delivering ROI.
Higher Education and Vocational Training
It is a rapidly growing market presenting huge opportunities to private sector players. The unsaturated demand for quality institutes is increasing the gross enrollment ratio. However, the quality of programs and lack of practical training are major drawbacks from the students’ point of view, and steep financing requirements and significant initial Capex are causes of concern for investors.
Institutes face challenges in the online admission process, implementation of LMS, hostel management, and government grants. Practus provides valuable interventions by setting up the online portal for admissions and ensuring seamless data flow from the online portal to ERP for better data management. Practus assists for a smoother process for application of government grants and helps with compliance management for the same.
Online education is the equivalent of work from home. The demand for short-term courses for skill development among professionals is a trend that will only grow. Access, convenience, interactivity, augmented/virtual reality, and personalized learning makes it more appealing to a broader user base. Edtech companies face challenges in fundraising, assistance in integration of ERP, CRM, LMS, optimization of Cost of Customer acquisition, good quality dashboards, and deriving unit economics and pricing various courses.
Practus brings clarity with BI tools for KPIs and decision-making. With IM creation, valuation model, business plan, budgeting, and forecasting tool we assist with fundraising preparations. Integration mandates, ERP optimization, CAC framework, and manual framework using MS Excel help us deliver ROI to EdTech companies.