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Xero teams with Schola Technologies to make financials easier for schools

Friday 26th March 2010

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Xero, a company that offers online accounting services, has made a deal with Schola Technologies to create an online school management system, to start in the 2011 school year.

Xero reviewed the school market after receiving many requests from accountants in New Zealand to deliver its accounting management software for schools and found that Schola’s Assembly management system could combine with its own to create an overall better product, the company said in a release today.

“We were shocked at the wastage arising from non-integrated desktop applications,” said Xero’s chief executive Rod Drury. He said a “quality, integrated, online school management solution, “could reduce licensing, support, consulting and remote audits, saving schools up to $20 million, which could be better spent on education outcomes.

Schola Technologies operates the school managements systems SchoolMaster and the more recent Assembly, which are used in over 500 New Zealand schools. The programme helps schools analyse student learning, including presenting National Standards, teachers’ planning and assessment management and student administration, with electronic attendance. The solution appealed to Xero as being well ahead and of the same high quality of its own product.

Xero’s shares rose 0.6% to $1.61 on the NZX today, having gained 110% in the past 12 months. 

The two companies will link key financial information to help schools efficiently produce financial information and reports, keeping the school community better informed, the companies said.

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