Associations dedicated to providing accommodation and services for people with disabilities (PSH) are constantly looking for innovative ways to improve the quality of life of their beneficiaries, patients or residents, particularly when it comes to managing outgoings.
The transition to independent living is an ordeal for many people with disabilities or specific difficulties, such as drug addiction. Thanks to technological advances and educational initiatives, innovative solutions exist to ease this challenge. Here's a closer look at the three main innovations for managing the outgoings of beneficiaries of PSH associations and foundations.
Financial management technologies
To offer your beneficiaries a modern, practical solution for managing their out-of-home expenses, consider developingdedicated mobile applications. These applications integrate advanced functionalities such as budgeting, real-time expense tracking, receipt management and transaction categorization, providing greater visibility into their financial habits.
These platforms are designed with particular attention to security and user-friendliness, making it easy to pay bills online, track reimbursements, and consult expense statements. They offer an alternative to traditional methods of managing outgoing expenses (cash, pension cheques, money orders).
What's more, these applications can be customized to your residents' specific needs, ensuring a tailored and accessible experience. By opting for this technological approach, you offer your beneficiaries a modern tool to actively take charge of managing their finances.
Personalized prepaid payment cards
You can provide your residents with prepaid payment cards specially designed to ease their transition to independent living. These cards can be programmed to be used exclusively for predefined spending categories, offering targeted control.
Prepaid payment cards are an innovative and ideal solution for managing out-of-home expenses. They are specifically adapted to the needs of patients and residents of PSH associations, providing an effective means of monitoring and controlling expenditure.
Thanks to the personalization of payment cards, associations and foundations dedicated to people with disabilities can respond precisely to the individual needs of each beneficiary, whether for expenses related to housing, medical care or leisure activities. This approach encourages autonomy while guaranteeing responsible use of allocated funds.
Data analysis and artificial intelligence
Integrating data analytics and AI into your outbound spend management brings significant potential for optimizing your residents' finances. These technologies are capable ofanalyzing spending habits,identifying trends, and providing personalized recommendations for more effective financial management.
AI-based systems also detect risky financial behavior, giving you the opportunity to intervene preventively. What's more, these solutions help strengthen your beneficiaries' financial skills by informing them about best management practices.
Money management training
Educational programs devoted to budget management are an essential component in the field of PSH associations. They aim toinform your beneficiaries about how to manage their spending wisely. Whether through workshops, webinars or training sessions, these programs aim to raise participants' awareness of fundamental financial skills.
It's vitally important that your residents develop confidence in their ability to manage their own resources. This increased confidence facilitates a smoother transition to independent financial living.
Partnerships with financial institutions
Collaboration between PSH associations and financial institutions offers solutions tailored to the specific needs of people with disabilities. These partnerships lead to the implementation of tailor-made banking services, facilitating the integration of beneficiaries into the wider financial system.
Online accounts play a key role in simplifying access to a wide range of banking services, while offering attractive rates.
By combining advanced technologies, effective financial education and strategic partnerships, you can bring about significant change in the lives of your beneficiaries, patients and residents, proactively helping to strengthen their social inclusion.