January 22, 2007–RenWeb, the industry leader in next-generation, web-based school management software today announced the launch of its new PayEasy service, an automated electronic payment process for recurring tuition fees.
Parents simply authorize the school to debit fees from their bank accounts or credit cards on a monthly basis. Payments are automatically posted to parents´ school account balances and reflected in their statements. For their part, schools save the time and money devoted to preparing and sending out paper invoices as well as recording checks received in the mail. The set up is free and training sessions are set to begin in the coming weeks The PayEasy launch builds on the value and convenience of RenWeb´s recently released PayNow feature that allows parents to pay bills ranging from lunch fees to tuition at the click of a mouse online, at no extra cost to the school. Both features charge a small convenience fee which the school can choose to cover or bill to the families.
Bob Wilbers, RenWeb´s Founder, stated, "The addition of PayEasy–yet another inexpensive, integrated and easy to use yet highly effective solution–further underscores the functionality and convenience that led more than 240 schools to switch on the power´ with RenWeb last year alone. Together with PayNow, PayEasy simplifies financial record-keeping and saves schools significant time, effort and money by automating the payment process, improving schools´ collections rates and speeding the settlement of family account balances. PayEasy also offers parents more convenience and control in paying tuition and other charges."
Mr. Wilbers continued, "The addition of PayEasy and PayNow to our existing tuition management capabilities and our integration of Sage Software´s MIP Fund Accounting solution uniquely position us to provide the premier tuition management and accounting solution in the industry."
Each month, PayEasy takes a snap shot of recurring fees scheduled that month in RenWeb´s Tuition Management feature set. On the dates specified by the school, PayEasy debits from the parents´ bank accounts or credit cards the recurring fees they owe that month. After the settlement period, payments are automatically reflected in the parents´ school account balances and the payments are grouped and deposited in the school´s bank account. PayEasy then automates the bank reconciliation process, assigning a deposit slip ID to every payment in each deposit, and consolidates the payments in RenWeb so schools can pull reports that automatically tie to the deposits in the bank account.
RenWeb last year announced a strategic alliance with Sage Software to offer a complete management software and fund accounting solution for public and private schools across the United States. As part of the alliance, RenWeb has created seamless integration with Sage Software´s MIP Fund Accounting solution. Additionally, RenWeb has added the Sage MIP Fund Accounting line to its current offerings, so schools can acquire an integrated information and financial management system from a single vendor specializing in their sector.
RenWeb is enabling administrators, teachers, parents and students in more than 600 schools across North America to "switch on the power" as the leading provider of next-generation Internet-based school management software. RenWeb´s unmatched convenience and service includes complete installation of the software including conversion of data, all as part of one, low license fee, along with a client interface that provides easy access to more than 150 integrated features. Developed by a university dean, RenWeb is leading the migration of schools from client server-based to web-based systems, bringing administration, parents, students and the classroom together with anytime, anywhere access to a full range of services. Features include Admissions, Enrollment, Scheduling, Billing and Tuition Management, Lunchroom Management, Health Management, Attendance, Homework, Lesson Plans, Gradebook, Report Cards, Transcripts, Extensive Reporting Capabilities, Automated Emailing and ParentsWeb. For more information about RenWeb, visit www.renweb.com.