ClassWallet Bookkeeping and Technology Survey Results

At ClassWallet we’re always joking that no company sells less efficiency and increased costs. Most technology companies position themselves as a solution that saves time and money, but what that means to people differs considerably. We’ve been told by clients they save, on average, 5 hours a week in school bookkeeping time managing teacher orders and receipt reimbursement on our platform. We wondered what impact this really has in the daily lives of these administrators. So we asked districts of all sizes across the country what the effects would be from freeing up 5 hours each week for their bookkeepers, and here’s what they had to say.

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How the Finance Office Can Alleviate Teacher Shortage Problems

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?

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Preventing P-Card Abuse & Fraud in Your District

Fraud 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. 

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Empowering Teachers with Classroom Budgets

I 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.

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Education Leader Esther Wojcicki, The Case For Teacher Empowerment

The 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.

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Accounts Payable Automation – A Cost Effective Alternative Way to Maximize Your ERP

How 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.

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ClassWallet’s $1 Million Week: 10,536 Purchases Reconciled & Paid

ClassWallet 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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Heritage Foundation Report Features ClassWallet as Pioneer in Financial Technology

As a financial technology company focused on saving time and money for the school business office, we are excited to be featured as a pioneer in financial technology in a recent Heritage Foundation Education Report.  In the report, Jonathan Butcher, Senior Policy Analyst for the Center for Education Policy, showcases trends in mobile money and digital wallets and explains how school districts can benefit from these new innovations.

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New Partnership with GoFundMe Aligns Teacher Crowdfunding with School District Policy

Teacher crowdfunding is a common practice in today’s digital world as a way for teachers to get necessary school supplies for classroom needs.  As one study points out, 99.5% of teachers use their own money to pay for school supplies with 77% of teachers averaging $500 per year out of pocket.  If parents have the means to support teachers in getting supplies for their students’ classrooms, teacher crowdfunding is a viable option.  

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Why Harrington Park School District Loves ClassWallet: #NYEdTechWeek Feature

There are some office facing solutions that are lights out that I love. The first group that I would talk about is ClassWallet. ClassWallet is a great business office solution and you say, “Wow that is so simple!” ClassWallet talks about student funds and accounts, field trips, things like that, and you go, ‘Oh my God that’s such a low hanging fruit.’ But everyone of us brings that brown envelope down to the office. It’s a nightmare. But ClassWallet digitizes it.

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