Worcester Polytechnic Institute Selects DebtBook to Modernize Its Debt Management Practices & Automate Lease Accounting
13 Agosto 2024 - 8:01AM
Business Wire
DebtBook, a leading provider of cloud software for treasury and
accounting teams in the public finance industry, today announced
that Worcester Polytechnic Institute (“WPI”) has selected the
firm’s Debt Management and Lease Management solutions to unify its
data, processes, and reporting.
Worcester Polytechnic Institute, a global leader in
project-based learning, is a distinctive, top-tier technological
university founded in 1865 on the principle that students learn
most effectively by applying the theory learned in the classroom to
the practice of solving real-world problems. Today, WPI manages
approximately $372 million in outstanding debt.
“As part of Worcester Polytechnic Institute's strategic plan to
streamline operations and enhance data-driven decision-making, we
are implementing DebtBook's Debt and Lease Management software.
This partnership is helping us ensure precise financial reporting
and eliminate inefficiencies, supporting our mission to deliver
exceptional educational experiences,” said Jane Clapp, Controller
at Worcester Polytechnic Institute.
Using DebtBook as its centralized treasury management platform
will enable Worcester Polytechnic Institute to streamline
organization-wide knowledge capture and increase operational
efficiencies. With DebtBook’s Debt Management solution, WPI's team
can track debt schedules, issuance details, and historical changes,
including refundings as well as disclosure requirements. With
DebtBook’s Lease Management solution, WPI can automate ongoing
compliance with ASC 842 and share information seamlessly with
internal teams and external stakeholders.
“DebtBook’s reporting capabilities will improve accountability
and reduce the time the Worcester Polytechnic Institute devotes to
maintaining compliance, gathering, validating, and sharing data,”
said Tyler Traudt, CEO and Co-Founder of DebtBook. “With better
information and better tools, the finance team can deliver better
outcomes for their students and faculty.”
About Worcester Polytechnic Institute
WPI is a top-tier STEM-focused research university and a
recognized pioneer and global leader in project-based learning.
Founded in 1865 on the principle that students learn most
effectively by applying the theory learned in the classroom to the
practice of solving real-world problems, WPI’s continued mission is
to transform lives, turn knowledge into action to confront global
challenges, and revolutionize STEM through distinctive and
inclusive education, projects, and research. WPI’s project-based
curriculum engages undergraduates in solving important scientific,
technological, and societal problems throughout their education and
at more than 50 project centers around the world. Today WPI offers
more than 70 bachelor’s, master’s, and doctoral degree programs
across 18 academic departments in science, engineering, technology,
business, the social sciences, and the humanities and arts. To help
address ongoing challenges, improve lives, and help create a more
sustainable world, WPI faculty and students pursue groundbreaking
research in such areas as the life sciences, smart technologies,
materials and manufacturing, and global initiatives.
www.wpi.edu
About DebtBook
DebtBook offers modern treasury and accounting software designed
to help state and local government, higher education, healthcare,
and others go from operational overload to strategic
leadership.
Our Debt and Cash Management solutions empower strategic
treasury and improve financial outcomes by automating operational
work and allowing teams to more easily analyze their data and
extract valuable insights. Our Lease and Subscription Management
solutions give accounting teams hours back to their day by
automating GASB 87, ASC 842, and GASB 96 compliance workflows.
Visit debtbook.com to see why more than 2,100 organizations
nationwide work with DebtBook.
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Liz Speier Liz.Speier@debtbook.com