MIAMI, February 20th, 2018 — ClassWallet is a spend management platform that streamlines time-intensive tasks of collecting receipts, reconciling invoices, and making vendor and reimbursement payments. The New Mexico Public Education Department has contracted with ClassWallet to distribute a $100 grant to each teacher throughout the State.
Last year, the Public Education Department used a debit card to distribute the same grant. It was a manual process to get a debit card to approximately 23,000 teachers and even more manual to collect the receipts from all the teachers. The teachers must use the grant for approved classroom resources.
ClassWallet is a platform that manages and tracks small spending allocations for publicly funded dollars. The platform is typically used to automate and digitize processes that consume a disproportionate amount of time relative to transaction size. In New Mexico, school business offices will no longer have to chase down teachers for receipts and get better quality control over the process.
“We are very excited to be working with an organization of such significance as the Public Education Department of New Mexico,” says Jamie Rosenberg, founder and CEO of ClassWallet. “So much energy and resources are consumed by collecting and reviewing receipts for such relatively small dollar amounts. There is no shortage of more important matters the school business office has to tackle.”
Woody Lehman, who runs Business Operations for the Public Education Department of New Mexico, shares the benefits of using ClassWallet. “In previous years, getting state dollars in the hands of teachers was a logistical nightmare. ClassWallet has simplified the process and created a much more efficient way to manage this aspect of the budget.”
ClassWallet is used in over 2,000 schools and 63,000 classrooms across 15 states and growing. Visit the ClassWallet booth at the New Mexico School Business Officials Conference February 21st to learn more!
ClassWallet is the leading spend management solution to allocate budgets, stipends, grants, and vouchers online. ClassWallet consolidates all school-level expenditure tracking through one single, paperless platform. The platform includes an ecommerce platform, digital reimbursement, declining balance debit cards, and reconciled data integration that integrates with any accounting or ERP software.
For more information about ClassWallet, please visit www.classwallet.com.