PowerSchool, the leading provider of cloud-based software for K-12 education in North America, announced that it has acquired Allovue, a leading provider of K-12 financial planning, budgeting, and analytics software in the U.S. The acquisition supports the expansion of PowerSchool’s financial management, analytics, and workflow capabilities, providing schools, districts, and state education leaders with the most comprehensive suite of K-12 data and analytics tools available to accurately plan budgets and provide clear visibility for their communities into district spending and the impact on student outcomes.
Allovue was founded in 2013 by a team of educators, technologists, education finance experts, and data specialists who understand the impact that budgeting decisions have on student success. Together, they worked to build innovative education finance solutions to maximize student outcomes. Their mission is to empower educators to strategically and equitably allocate resources to best support the needs of students. Allovue’s goal is to help educators make better decisions about their budgets and spending by giving them dynamic, up-to-date, and user-friendly data. Allovue works with districts and state departments of education across the country to budget, manage, and evaluate their spending—supporting workflow, analytics, and decision making for more than $50 billion of K-12 spending on education resources for millions of students.
By adding Allovue’s finance management tools to PowerSchool’s product suite, schools and districts will benefit from intuitive and flexible budgeting tools to allocate and manage budgets and resources, including real-time access to all budgeting information, budget collaboration, equitable funding formulas, and analytics and dashboards to track and manage spending. “The acquisition of Allovue underscores our commitment to empowering education leaders as they navigate the complex landscape of education finance,” said Hardeep Gulati, CEO of PowerSchool. “As federal stimulus funding winds down, budget management, impact analytics, and budget transparency become even more critical in K-12. Combining Allovue with PowerSchool’s existing suite of products provides improved capabilities for managing district finances with tools that are intuitive, flexible, easy to use, and integrate with existing systems.”
Allovue customers and partners will be supported by PowerSchool going forward and will benefit from continued enhancements to their existing platform as well as new opportunities to leverage PowerSchool’s award-winning products. “Cincinnati Public Schools has successfully utilized PowerSchool ERP and Allovue applications to effectively manage our budgeting processes, seamlessly aligning with our strategic initiatives and equity goals,” said Jennifer Wagner, Treasurer and Chief Financial Officer of Cincinnati Public Schools. “Allovue and PowerSchool have been instrumental, providing excellent transparency and facilitating our budgeting process, offering performance and flexibility for our daily financial tasks, as well as supporting key reporting and analytic activities. We eagerly anticipate the ongoing enhancement of both product lines individually, as well as the anticipated synergies of both platforms under a single company.”
Current and future PowerSchool customers will benefit from comprehensive, system agnostic analytics, and unprecedented cross-domain insights, resulting in greater awareness of the impact of funding decisions on measurable student outcomes. “PowerSchool and Allovue share a mutual goal of supporting education leaders with solutions to equitably and effectively administer resources,” said Jess Gartner, CEO and Founder of Allovue and incoming PowerSchool Group Vice President of Allovue and ERP. “We are thrilled that Allovue’s customers will be supported by PowerSchool so that schools, districts, and states can continue using Allovue’s solutions while also leveraging additional capabilities like PowerSchool’s market-leading Student Information System, Connected Intelligence, and AI offerings.”
Source: Businesswire
