Research Study Finds E-Invoicing and Online Payments Reduce Outstanding Receivables 42.6 Percent in School-Age Child Care Program

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Electronic payment solutions found to increase revenue, reduce receivables, speed payment collection, and reduce administrative burden.

This chart highlights the benefits of EZ-CARE2's solutions for electronic childcare fee collection.

SofterWare Inc., developers of EZ-CARE2, a leader in school-age and daycare management software solutions, announced the findings from a recent study, conducted by Rudolph & Associates. The study analyzed actual payment data from clients that had implemented SofterWare's innovative billing and electronic payment solution called Click-to-Pay. The study found dramatic improvements in timeliness of payments as well as significant reductions in administrative time spent on payment posting and collections.

The study reported the following results:

  • 86.4 % of revenue collected via online payments
  • 42.6% lower receivables at due date (Oct 10th 2008 vs. Oct 10th 2007)
  • 32.6% increase in payments by billing date - Oct 1st
  • 75% reduction in time spent on payment processing (30 minutes/day vs. 2 hours/day)

Doug Schoenberg, CEO of SofterWare, Inc. noted, "With the challenging economy, most child care providers are experiencing increasing payment delinquencies. This study clearly demonstrates that e-invoicing and online payments can have a dramatically positive impact, and help centers keep their money coming in on time." Mr. Schoenberg added, "Every client we talk to has been raving about the time savings and positive reaction from parents, but being able to quantify the results this way is really valuable."

Susan Rudolph, of Rudolph & Associates, confirmed "Beyond the quantifiable results, my research and interviews found that the introduction of online payments generated extremely positive feedback from parents. They clearly appreciated the convenience and reliability of making payments anytime they want and without the need to send or drop off checks."

Read the electronic payment of childcare fees study results. For more information on EZ-CARE2's electronic payment processing tools, please visit: http://www.ezcare2.com/tuition-processing.

About SofterWare, Inc.
SofterWare, Inc., founded in 1981, is a leading provider of software to childcare centers, preschools, before & afterschool programs as well as camps and non-profits. The company provides a complete suite of credit card and electronic payment processing tools as well as software for enrollment, billing, scheduling, attendance management and other aspects of child care program management and administration. For more information on EZ-CARE2 childcare management software, please visit http://www.ezcare2.com.

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Sam Goldenberg
SofterWare, Inc.
215-542-4390 ext. 233
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