Jamie Rosenberg, founder and CEO of ClassWallet, spoke with Efma’s Boris Plantier about how his company is making the lives of teachers and administrators easier all over the U.S. What led to the creation of ClassWallet? After starting www.AdoptAClassroom.org, a crowdfunding platform for teachers, in 1998 and managing the organization for 15 years, I saw … Continue reading “ClassWallet’s Efma Fintech Friday Interview”
Providing teachers more control over classroom decisions is far more financially effective and efficient than trying to find ways to boost teacher salaries. If a teacher is choosing employment between two districts and District A gave each teacher a classroom budgeting tool that contained some funds for supplies, easy access to crowdfunding tools, additional funding that may originate from federal or local grants or PTA, and District B did not, what district do you think the teacher will choose to work for?
... Continue ReadingFraud and audit violations often happen with organizations that use Procurement-cards (P-Cards). One reason is that P-Card fraud and misuse can be difficult to recognize until it ends up in the news. Internal controls are meant to decrease fraud and abuse, however, P-Card purchasing data is limited. This is one reason the misuse of funds occurs as frequently as it does. Reconciliation reviews and monthly reports can identify suspicious activity, but don’t stop the fraud from occurring.
... Continue ReadingI have been working with teachers across our country for 20 years. In 1998, I started AdoptAClassroom.org, funding classrooms in 30% of school markets, and in 2014 I launched ClassWallet, a spend management software. In 2018, I have never seen teacher discontent as high as it is now. Teachers are striking across the nation; teacher absenteeism is now a chronic problem; approximately 50% of teachers leave the profession after just 5 years.
... Continue ReadingThe following is an excerpt from Ester Wojcicki’s Teacher Empowerment post on Medium: Teachers are striking across the country. Fifty percent of teachers leave the profession after just five years. Teacher absenteeism is a national problem. Teachers are mad, frustrated and fed up. Salary is a focal point but their ire is rooted in more than that.
... Continue ReadingHow Cloud-Based Software That Provides Accounts Payable Automation Can Improve Your ERP System. The decision to implement an Enterprise Resource Planning (ERP) system is a cost-based decision designed to improve departmental productivity while enhancing efficiency across workflows. But, the importance of maximizing the value of an ERP system can be an expensive task. New cloud-based accounts payable automation is a solution to improve ERP processes.
... Continue ReadingClassWallet reached a new milestone reconciling over 10,000 transactions in one week. The 10,536 transactions totaled $1,012,841.59, with an average of $96.13 per transaction. Included in this number are 3,669 reimbursement transactions. For all purchases, customers did not have to collect a single piece of paper, reconcile an invoice or cut a check. Our team estimates the man-hour cost savings to customers at over $1 million.
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