From the CEO
Not all school procurement is the same. For the large purchases, purchase order and ERP systems can make a lot of sense. For the purchases funded by the school budget, these systems can be overkill, and cost more in man hours than the purchases themselves.
We enjoy working with administrators that embrace innovation like ours to manage the purchases that happen on the day-to-day basis inside the school building.
We are happy to announce that we have 100% of customer renewal for this year, a great validation to the cost savings we provide to school districts. Our customers have become ambassadors and districts from new states continue to join the ClassWallet family.
Below please find an overview of the latest in ClassWallet news.
An Auditor Shares Insights to ClassWallet and District CFOsCash is very expensive to secure. Wayne Brown, a financial technology subject matter expert, has seen situations where large school districts have moved to other forms of payment because the cost of cash is so high. If a school district is maintaining cash, there are controls and processes that have to be put in place, that amount to an increase in labor costs and security. Check out our “The Money Movement Channels in Schools: A FinTech Discussion for School CFOs” blog post to gain more insight.
ClassWallet Enters Louisiana and Grows in AlabamaLast month, ClassWallet welcomed Ascension Parish School Board of Louisiana and Baldwin County Public Schools of Alabama as customers. Ascension marks ClassWallet’s first district in Louisiana and Baldwin is now the third district in Alabama to adopt the ClassWallet solution to reduce paperwork and automate tracking and reconciliation of certain purchases in the district.
More Love from Alabama — A Successful Lunch & Learn!Current Alabama customer Conecuh County Board of Education hosted a very well attended lunch & learn to share with other districts the benefits it has derived from using ClassWallet. Chief Schools Finance Officer Avery Ford noted reducing paper, reducing the fulfillment time and reducing labor costs as key value propositions. He even noted teachers were calling his office and actually thanking him for using ClassWallet — not common when the district introduces new software.
ClassWallet CEO Addresses National Schools Foundation Association ConferenceClassWallet CEO Jamie Rosenberg was invited to present to attendees at the National Schools Foundation Association conference in Chicago, IL. As school budgets shrink, there is more reliance on community based funding to fill critical voids. While the supplemental money for schools is great, the hidden costs of processing purchases with grant money (up to $97 in man hours for every purchase) was enlightening for the audience as it considers adopting new and innovative ways to be more efficient.
Say Hi in Person! Find UsCalifornia Association of School Business Officials Long Beach, CA April 12 - 15 Utah Association of School Business Officials Provo, UT April 18 - 19 Alabama Association of School Board Officials Orange Beach, AL May 3 - 5 ASU GSV Conference (Presenting) Salt Lake City, UT May 8 - 10 NewSchools Venture Fund Summit San Francisco, CA May 17
ClassWallet addresses the pain of managing checks, reimbursements, paper receipts, and the paperwork associated with tracking expenditures for school systems. The platform makes the accounting and audit trail very easy and helps reduce administrative costs.