2025 may not be too different from 2024: educational institutions continue to face challenges in student recruitment and enrollment, and the importance of having the right tools remains. Admissions software becomes more than just a management tool. It’s an investment with a measurable return. But how do you measure the ROI (Return on Investment) of such a platform?
In this guide, we’ll break down key aspects that contribute to ROI and help you understand how admissions software like DreamApply can be a game-changer for your institution.
How do you define return on investment (ROI)?
Return on investment refers to the gain you have from investment. Usually, ROI refers to monetary profit, but for the purpose of this blog, we are looking at the financial, human, and reputational return on investment.
Understand first the basic ROI formula: ROI = Return (Gain)/Investment (Cost)
Then, apply the complexity of admissions and various returns and admissions software can bring. The gain from the basic formula suddenly becomes an array of gains that include time saved, efficiency, communication, simplicity, reduced frustration, long-term ability to scale and grow, happier applicants and staff, and much more.
What is the value of an admissions software?
At its core, ROI isn’t just about financial gains. Admissions software delivers value across other dimensions that DreamApply clients often report: time saved, process efficiency, improved student experiences, and institutional growth. When calculating ROI, educational institutions must consider both tangible and intangible benefits.
A top software benefit in terms of ROI is efficiency. If things move fast at low cost, while keeping the same or better quality, return on investment is most visible. For many institutions, efficiency is bogged down by manual tasks like evaluating documents, responding to inquiries, and coordinating communication. DreamApply automates and centralizes these tasks, freeing up staff time for high-impact activities.
Universities using DreamApply report a 40% reduction in time spent managing applications, enabling teams to focus on strategy rather than operations.
Reducing the time for administrative tasks ensures time for attracting and enrolling more students. With features like program customization, applicant tracking, and marketing analytics, DreamApply empowers institutions to showcase their offerings to the right students at the right time.
How does saving time and cost impact return on investment (ROI in admissions)?
This is almost a given. If investing reduces costs and saves time and resources, the return is evident. But let’s look at how an admissions software does this.
Manual processes cost time and resources. Oftentimes, manual processing delays the communication between the staff, departments, and with the students, which in return may result in losing applicants.
From handling tuition payments to processing applications, automation minimizes errors and reduces administrative overhead. Faster and more transparent communication, on the other hand, speeds up those automated processes. Finally, you have several hundreds of hours cut from the process, and have addressed all applicants in a timely manner.
What does user experience have to do with the return on investment?
A smooth application process isn’t just good for students. It boosts your institution’s reputation. Features like citizenship-based configurations, integrated communication, and user-friendly interfaces ensure applicants have a positive experience from start to finish.
Over time, a positive experience and institutional reputation turn into word-of-mouth marketing, which continues to be the strongest marketing tool that doesn’t cost a penny.
A positive applicant journey with DreamApply is evident in the student testimonials, which you can check out via the DreamApply YouTube page.
How do you measure gains in management reports?
In enrollment management, specifically in admissions and marketing functions, financial reports are a big part of the role. Whether or not a financial investment returns profit is key for many institutional operations, staffing or future planning. Not being able to regularly deliver positive monetary results calls for additional supporting material.
Getting a new, transitioning from an old, or retaining the existing admissions software can often depend on these reports. Therefore, it is important to note the gains beyond financial gains or losses when writing management reports.
DreamApply has already prepared a guide as follows: Are you measuring what matters in admissions? Discover top 10 KPIs and how to improve them. • DreamApply. Through the 10 KPIs, you can measure the various gains that over time will have an investment return. On top of this, introducing the human aspect, and gathering staff and student testimonials, is another aspect that goes overlooked.
Are you ready to calculate your ROI more holistically?
DreamApply provides tools to measure your success and offers tailored solutions to fit your institution’s unique needs. Schedule a free personalized demo today and discover how investing in admissions software can transform your institution.
About DreamApply
Founded in 2011 in Estonia, DreamApply is an innovation-driven EdTech organization that improves access to education around the globe. DreamApply’s admissions software helps more than 300 educational institutions across 40 countries improve admissions, marketing, financial and other internal processes.
DreamApply’s easy-to-use and customizable software increases student enrollment by 30% and reduces application processing time by 40%. With features designed with and for educational institutions, and integrations with commonly used systems, DreamApply empowers teams to get more done with less effort.
Request a live walk-through of DreamApply with an expert.