In the face of chronic underfunding and under-resourcing within the education sector, it has become increasingly clear that innovation and financial change are no longer optional - they are essential. At ION, we understand that there is a critical need for Multi-Academy Trusts (MATs), schools, and colleges to navigate these financial pressures effectively and drive meaningful change, ensuring the sustainability of education for future generations.
As the challenges of underfunding in schools continue under multiple governments, the need for innovation solutions is becoming more and more evident.
We have made it our mission to deliver once-in-a-lifetime innovation, that will change the trajectory of education.
The issue of underfunding in UK schools has reached a crisis point. According to the Institute for Fiscal Studies (IFS), school spending per pupil in England fell by 9% in real terms between 2009-10 and 2019-20, marking the largest reduction in over 40 years.
Although recent government commitments have aimed to increase funding, these efforts have only begun to reverse the cuts, leaving many schools still struggling to make ends meet.
In combination with rising costs and staff shortages, the financial strain on education providers has led to larger class sizes, reduced staff numbers, and cuts to essential services, directly impacting the quality of education that students receive. In fact, a survey by the National Education Union (NEU) in 2023 revealed that 72% of school leaders reported having insufficient funds to meet the needs of students with special educational needs and disabilities (SEND).
The phrase "underfunded schools" has unfortunately become a familiar refrain, but it is crucial to understand the real-world implications of this chronic underfunding:
These examples illustrate the severe impact that underfunding is having on schools across the UK. The phrase "underfunded schools" represents more than just a budgetary concern; it signifies a growing crisis that is affecting every aspect of education, from the quality of teaching to the availability of resources and opportunities for students.
Given today’s challenging financial landscape, it is crucial for educational institutions to leverage advancements in technology to manage their finances effectively. With rising costs and limited budgets, schools, academies, and colleges must find ways to control spending and optimise resource allocation. This is where technological advancements in accounting and finance solutions have the power to make a significant difference to educational outcomes.
We are building our strategy on the following framework:
Controlling Spend
Driving Down Costs
Leveraging Technology
We believe that education is the foundation of a thriving society, and it is our mission to ensure that every school and MAT has the financial resources they need to succeed, even in the face of adversity.
As schools continue to grapple with these challenges, it is increasingly clear to us that without significant changes to funding and financial management, the future of education in the UK is at serious risk.
We recognise the urgent need for innovation in how schools manage their finances, which is why we are dedicated to designing and building technologies that pave the way for long-term sustainability.
Our goal is to empower MAT, school, and college leaders to take control of their financial future through advanced technology and strategic financial management. We know that to make education truly sustainable, we must do more than just manage budgets — we must transform them.
At ION, we stand firmly in support of sustainable education and the need for systemic change in how schools are financed. We believe that every student deserves access to high-quality education, regardless of their background or the financial situation of their school. This requires not only fair and adequate funding from the government but also innovative solutions that enable schools to make the most of the resources they have.
We are committed to working alongside education leaders to advocate for a financial environment that supports the long-term sustainability of education. By delivering world-class products and technology, our aim is not just to provide software — but to offer a pathway to financial resilience and future-proofing educational excellence for the next generation.
While navigating the complexities of education finance is a formidable challenge, it is not one that education leaders need to face alone. By collaborating with ION, education providers gain access to unparalleled expertise in education finance, world-class technology, relentless innovation, and powerful data insights.
At ION, we are committed to driving financial transformation in education, working alongside schools and colleges to implement solutions that not only address immediate financial needs but also lay the groundwork for sustainable growth and success:
We believe that every student deserves access to high-quality education, and this requires a robust financial foundation.
By leveraging our expertise and innovative solutions, the responsibility to ensure that your institution is well-equipped to navigate the financial challenges ahead becomes our shared endeavour, lightening the load for CFOs and finance managers.
Together, we can make a lasting impact on the future of education, take control of your financial sustainability and achieve excellence in education.