ClassWallet addresses the pain of managing cash, checks and paperwork associated with tracking certain expenditures for public institutions such as school systems and nonprofit SMEs. Through ClassWallet, users are provided a virtual wallet in which spending budgets can be allocated and spent within a fully integrated network marketplace. All network vendor partners provide SKU level data. As a result, ClassWallet provides administrators and funders real-time, SKU-level reporting of all transactions (as well as pre-approval permissions, if needed) in a completely paperless environment.
Because we manage both the funding and the spending, ClassWallet reduces overhead costs up to 80% and reduces the length of the accounting reconciliation process from months to real-time. Network marketplace partners include Amazon, Office Depot, Best Buy and 40+ more. ClassWallet funds can an be used off the platform as well either on the ClassWallet Debit Card or with out of pocket and receipts can captured and submitted via the ClassWallet mobile application.