A series of advancements in the education sector have paved the way for educational technology (and the EdTech industry). As the name suggests, the EdTech industry incorporates the combined use of computer hardware and software technologies to deliver improved learning experiences. Besides, there is a quest to develop intelligent software applications to drive digital transformation across the EdTech industry.
Financial management plays a critical role in the education sector similar to any other industry-specific business that involves financial transactions. All educational institutions including schools, universities, coaching institutes, and distance learning centers deal with large volumes of financial transactions. That being said, these entities require a holistic software solution to gain control of their accounting and financial activities. This is where the role of accounting software comes into play.