What’s the ROI of the RPL Funding Calculator?
Before you invest in any type of system for your organisation, you need to know the benefits. How much time will it save? Will it make your processes more efficient? Will it save you money? What kind of returns can you expect on your investment?
The same goes for the RPL Funding Calculator. Before adding the RPL Funding Calculator to your pre-enrolment process, you need to know how it will benefit you. So to help, we’ve asked customers who are already using the RPL Funding Calculator what returns they’ve achieved – from financial savings to increased applicant engagement.
How will the RPL Funding Calculator save time?
With the RPL Funding Calculator, applicants can complete their skills assessment remotely and upload RPL evidence online. This significantly reduces the amount of time spent by tutors travelling to learner sites multiple times to explain the process, fill in spreadsheets and gather RPL evidence. This time saving delivers an ROI of 120% per applicant in staff salary and travel costs alone.
When the funding calculator for each apprenticeship standard is set up, the RPL Funding Calculator automatically calculates funding and course duration reductions according to each applicant’s prior learning. This significantly reduces the amount of time spent by tutors manually recording and calculating reductions.
‘Our main challenges were getting learners to complete their skills assessment via a Word template and then having to tally scores and work out reductions. The RPL Funding Calculator has removed the manual side of this, so our processes are now much more efficient.’
What financial returns can I expect?
On top of the savings made in reduced travel costs, the RPL Funding Calculator also enables organisations to increase tutor caseloads. On average, remote skills assessments save tutors enough time to increase tutor caseloads by 25% – increasing ROI to 1153%.
‘It’s a well worthwhile investment.’
What do users think about the RPL Funding Calculator?
The RPL Funding Calculator has been specifically designed so it’s intuitive for all users. This means applicants can complete their own skills assessment and upload relevant RPL evidence without being supported by a tutor. The system also guides tutors through the process of setting up a funding calculator, so it’s easy to use for everyone.
‘The RPL Funding Calculator is user friendly and easy to use, especially for learners. Our apprenticeship trainers also love the system, so all round, it’s been embraced by all parties.’
How does the RPL Funding Calculator improve quality?
With the RPL Funding Calculator, providers have a standardised process in place for making funding adjustments according to prior learning – which is what the ESFA expects to see. All RPL evidence is also gathered and stored in one place, and skills assessment scores are imported into OneFile’s scorecard to be used as the learner’s starting point – which is an Ofsted requirement.
‘The RPL Funding Calculator improves compliance with ESFA funding rules. It’s easy to store RPL in one place, but more importantly, it also allows us to list the costs associated with each standard and show clear workings out when reduction is applied.’
The RPL Funding Calculator saves time, increases efficiency, improves quality and delivers significant financial savings. It’s also intuitive, easy to set up and compliant with ESFA funding rules.
To find out about more about RPL Funding Calculator, download your free guide. It covers exactly how the system works and how it can improve your pre-enrolment process.
Or to see the RPL Funding Calculator in action, book a demo with a member of the team. They'll give a personalised tour of the system and answer any questions you have.
This article includes research and opinion sourced by OneFile at the time of publication. Things may have changed since then,
so this research is to be used at the reader's discretion. OneFile is not liable for any action taken based on this research.