Before we get into what digital wallets are and why you need them, let’s take a look at ERPs. ERPs have been a game-changer for schools by helping finance teams with everything from managing financials, HR, and even payroll. Today's ERPs are more sophisticated than ever, saving a lot of time on much of the financial process.
But what about when a teacher needs to order simple supplies for their classroom? Sure, your ERP can probably help with that too—all you need to do is about ten steps, and several weeks of your time.
Your vendor is finally set up. Let’s say it’s Office Depot. Your teacher can now order basic supplies. But now your art teacher and physical education teacher need supplies—that’s another entire cycle of setting those vendors up, which is taking more of your time and leaving less time for more critical tasks.
Let’s face it, most ERPs are just too big and too hard to set up for individual vendor management, for small purchases. So maybe you’re thinking you’ll just have them use a p-card instead. Yes, p-cards are efficient, but how can you control what teachers purchase? Even though you love and trust your teachers, budgets are tight enough without losses from fraud. There’s also the matter of reconciling receipts and expenses. The paperwork alone is enough to make you crazy!
Digital wallets have taken mainstream society to a whole new level. We now pay babysitters and friends using PayPal and Venmo. So why not use it to pay for classroom supplies for teachers?
ClassWallet’s digital wallet technology is just like other wallets, except it was created exclusively for K-12 schools. With more than 70 vendors in our marketplace, it saves you the hassle. Your teachers also get the autonomy they want to purchase what they need when they need it. And because it’s all online, there is virtually no paperwork. And the best part—you have complete control over how much each teacher spends and how they spend it. You can even create custom reports in real-time. It’s simple, efficient, and fills in the gaps where your ERP is just too much, making it the perfect solution for your tech stack.
ClassWallet can even help with government grant distribution for schools, teachers, and even scholarship payments for parents.
So go ahead and treat yourself to technology that will make your job a lot easier.