Financial Management and Bookkeeping

 

With a Certified Practicing Accountant (CPA) on the team of directors we have a high level of experience and capability in the financial management of RTOs. We have found that many RTOs lean on accountants and bookkeepers without RTO industry experience and subsequently receive poor advice.

Financial Management is a key component of the Australian Skills Quality Authority’s (ASQA) Standard Seven. There are many ways in which standard accounting and bookkeeping practice can be non-compliant from an ASQA perspective. Special care and a foundational knowledge of both accounting and ASQA standards are needed to effectively manage finances and ensure RTO compliance. The cost of this doesn’t need to be expensive, at LionHouse we provide a competitive bookkeeping service that meets and delivers for an RTO in ways general accountants and bookkeepers can’t.

Contact us today for a review and quote:
Phone: 1300 45 99 44

Industry Benchmarking

 

Looking for the next breakthrough idea? Want to understand how your organisation is performing against others?

LionHouse’s Mission Statement is “To support an ethical and sustainable VET sector, and help it grow”. LionHouse are committing to the industry to produce ten Benchmarking Reports every year. Ten reports on relevant and insightful topics that support CEOs and Managers to make better and more informed decisions. Independent of any governing body’s influence, our Benchmarking Reports are easy to read and professionally prepared, benchmarking your business with meaningful, current and useful topics.

RTOs who support the monthly surveying process, receive the Benchmarking Reports at no cost. With over 100 RTOs participating, the data is of high quality.

Call us today for your copy of our Industry Benchmarking Report
Phone: 1300 45 99 44

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Student Surveying

 

Student Surveying is the most undervalued activity in the VET sector. Whilst most industries are grappling with how to get ahead of what their customers think of them before they take to social media, most RTO’s see it as a compliance imposed cost. This means they purposefully go about reducing the cost as much as possible and never look at the results constructively.

RTOs are in an enviable position because the services they provide are extremely high-touch; that is the customers form a personal relationship with the trainer and organisation over a long period of time. When that is a positive experience, there is a powerful expression on social media. This is not only for the experience as a whole, but for small experiences along the entire student journey. Other industries have much shorter transactions with their customers, so their ability to relate to them and leverage from them on social media or other forms of crowd talk is extremely difficult. To have a relationship with a customer where they are willing to receive a phone call and complete a meaningful survey is possible in only a handful of industries. However most RTOs don’t take advantage of this information and haven’t developed the internal capability to interpret or make it meaningful to the organisation with action items.

LionHouse provide an RTO specific Student Surveying service at very commercial rates. The service includes analysis and practical recommendations at the submission of all results. Irrespective of the policies or standards your organisation has, it only delivers the standard that your weakest team member delivers. Something your customers know a long time before the CEO does. Subscription to this service will tell you what your customers are thinking and telling other people without your staff’s influence; this could be the key to unlocking your sales potential.

Get insights from your students today, contact us on:
Phone: 1300 45 99 44

Audit Assistance

 

There is one question RTO CEOs need to ask of themselves and their organisation on a regular basis; Is our license to operate protected? An RTO’s most valuable asset is its registration, followed closely by its funding contracts. LionHouse term these, “You’re License to Operate”. Without them, your RTO cannot issue qualifications, and in cases where funding contracts are an important source of revenue, your RTO may lose a large portion of its income.

To ensure RTO compliance, the goal of many RTO’s is to always have their organisation in a state of audit-readiness by having a policy and procedure document that is up-to-date with the latest regulatory changes and administrative backlog. These are important indicators to how well the RTO is functioning, however it’s not enough.

As well as supporting RTOs through the official RTO audit process, LionHouse will draw on its current audit experiences to assist in addressing non-compliances at completion. Before audit, we will work to understand how your RTO operates, review your processes, student records, training models, marketing model and a number of other key areas. Once completed, you will receive a Risk Report which will highlight areas where non-compliances may arise in a formal audit; LionHouse terms these Potential Threats. LionHouse will provide a recommended strategy to deal with each area. You will be able to decide which you are able to address internally and which you require the assistance of LionHouse for.

What sets LionHouse apart is that the advice and support you will receive will be in all elements commercial. An RTO needs to know what is possible, what opportunities exist and how to structure a workflow that can capitalise on  opportunities. Advice and internal audits that only result in a longer list of constraints to sales and increase operational costs in the name of ‘compliance’ do not add value to RTO management. Whether its a periodical best-practice approach in assessing threats to your license to operate, or because you have just been notified of an audit and need some help, LionHouse are ready to support you.

Contact us today and let us develop a Risk Report for your business
Phone: 1300 45 99 44

PQS Specialists

 

There are many government funded training initiatives in the Vocational Training and Educational sector which RTO’s can access. At a State and Federal level, each has its own intended purpose, governing guidelines (compliance) and processes. Most funded programs in Queensland require an RTO to become a Pre-Qualified Supplier (PQS), or obtain PQS status. This needs to be done in order for RTOs to be remunerated for training students that are eligible to take part in the initiative. The most significant funded training program in Queensland is the VET Investment Plan which includes the Certificate III Guarantee (C3G) and Higher-Level Skills (HLS), however there are many other significant and smaller programs.

The LionHouse team has extensive experience supporting RTOs with PQS responsibilities, including application to become a PQS, PQS audit preparation and support, and responding to compliance breaches. What sets LionHouse apart is that the advice and support you will receive will be in all elements commercial. An RTO needs to know what is possible, what opportunities exist and how to structure a workflow that can capitalise on opportunities. There is no value added to RTO Management if internal audits results in more constraints and increases to operational costs.

LionHouse draws from its experience in PQS specific audits, data management, marketing strategies, financial management, human resource and capability assessments, and workflow planning to put your RTO on a firm footing as a PQS provider.

For info on how to become PQS ready – contact our friendly team:
Phone: 1300 45 99 44

Data Management Outsourcing

 

With an outsourced Administration and Data Management Service, we can take on the management of your entire student record keeping process, including data management, reporting, and certificate issuance.

We can manage the entire process for RTO’s, or varying components of this process depending on their needs. Our software allows us to track each stage of processing for every student and class, as well as give RTOs real-time reporting on one easy-to-use dashboard ensuring management are always in control. All student files are all scanned and stored electronically on a secure server which is backed up every three hours giving you protection and confidence.

Contact us today and let us show you how we can help manage your data:
Phone: 1300 45 99 44

Growth Planning

 

RTOs are especially vulnerable to large fluctuations in operational demands. These fluctuations normally result in a breakdown of operational processes which create risks in the quality of compliance relating to that work. These fluctuations can occur because of a new, large customer, or even simply the life cycle of a project which has much administrative demand at the enrolment and commencement of students and likewise at the end. LionHouse understands the management and operational difficulties faced by RTO’s on a day-to-day basis and have seen many different organisational structures, work processes and business systems with some working better than others. LionHouse can support you in your organisational review process, ensuring that your structure is effective, efficient, and cost benchmarked.

Let us review and optimise your processes;
Phone: 1300 45 99 44

Consulting

 

Every RTO is different and managing an RTO can often mean facing decisions with complex and unique factors. LionHouse offer three forms of services to support CEO’s and managers.

  • Phone Support with direct access to one of our directors. Whether you need a quick second opinion on the interpretation of compliance matters, advice on dealing with a difficult customer, or even help to cost a new project with our CPA Director, we’re here for you. This service can be accessed as part of our monthly support package.
  • Wholistic Organisational Consultation by our team of directors, benchmarking and risk profiling are all aspects of this service. A service that supports CEOs and management wanting to discover an independent profile of the company, its threats and opportunities.
  • Outcome Specific Consultation to support in once-off deliverables or reports. This can include tenders, new client engagements, preparation and advice for business sale, due diligence for acquisition, financial review, process and efficiency reviews.

Let us find a solution tailored to your RTO,
Phone: 1300 45 99 44

RTO Administrative Assistance

 

LionHouse understand that the administrative cost of operating an RTO is very high in comparison to most other industries. RTOs can also experience really large fluctuations in administrative workloads depending on what phase workplace engagements are in or simply what time of year it is.

This understanding has lead LionHouse to develop a suite of outsourcing services that assist RTOs in managing their fixed costs, balance workloads for permanent staff and also provide access to skill sets that might not be held internally.

For outsourcing solutions, contact:
Phone: 1300 45 99 44

Call Centre Support

 

At LionHouse we have an in-house call centre team that specialises in supporting RTO’s with a variety of outsourcing services. These services make commercial sense as they allow training companies to focus on day-to-day operational and sales activity whilst ensuring the highest quality of compliance is met with every enrolment. These services include:

  • Inbound customer enquiries and booking
  • Outbound student satisfaction surveying
  • Outbound marketing drives

In support of this service LionHouse has developed a web-based software that allows complete visibility as to the outcomes of each student. Here you can also access a voice recording of each call, as well as the time and date of when a student was contacted. The software also facilitates a booking platform for students to register for courses and automates reminder emails and text messages prior to the course start, allowing for a longer lead time for the booking of students. We are very experienced in this and currently manage more than 400 student bookings per week across 17 different training products.

Contact us today for a quote of our call centre services:
Phone: 1300 45 99 44