PowerSchool Acquires Financial Software Provider Allovue to Enhance K–12 Solutions
- By Kate Lucariello
K–12 education software company PowerSchool has acquired Allovue, a financial budgeting, planning, and analytics provider for K–12 school districts. The addition of Allovue's finance management tools will make PowerSchool's K–12 services more comprehensive, PowerSchool said in a release.
Some of the benefits that will accrue from the acquisition include:
- The flexibility to allocate and manage budgets and resources;
- Real-time access to all budgeting information, collaboration, funding formulas, analytics, and dashboards to track and manage spending;
- Budget transparency and cross-domain insights, especially as they impact student outcomes;
- Support and availability of PowerSchool's products, such as its SID and AI offerings, to Allovue customers; and
- Enhancements to Allovue's existing platform.
"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," said Jennifer Wagner, Cincinnati Public Schools treasurer and CFO. "We eagerly anticipate the ongoing enhancement of both product lines individually, as well as the anticipated synergies of both platforms under a single company."
Visit the release page to learn about the acquisition and read a FAQ with more detailed information.
Kate Lucariello is a former newspaper editor, EAST Lab high school teacher and college English teacher.