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EqualLevel Launches MyFunds for K-12 Supplemental Funds Management

As school districts began to see the importance of allocating funds for teachers for classroom supplies, EqualLevel saw the need for districts to have a tool for supplemental funds management. EqualLevel’s MyFunds solution for automates funds distribution, encourages on-contract purchasing, tracks spending, and streamlines the reconciliation and reimbursement processes leading to reduced administrative overhead. 

How MyFunds Works

MyFunds allows school districts to allocate supplemental funds directly to teachers for easy access and helps administrators track spending. Teachers can use their funds to make purchases via an online marketplace comprising approved vendors, or quickly submit reimbursement requests for purchases made out of the marketplace. With MyFunds, supplemental funds management is automated, which eliminates paper receipts and forms.

“With K-12 operating under tight budget constraints, school districts need an all-inclusive solution to manage the procure-to-pay process for all district spending. Therefore, MyFunds was designed to complement EqualLevel’s eProcurement and eInvoicing offerings,” explained Orville Bailey, EqualLevel CEO.

MyFunds Features

Transparency: MyFunds delivers line-item level transparency of every purchase and makes the audit process seamless.

Marketplace: MyFunds equips school districts with an easy-to-use marketplace consisting of products from leading K-12 suppliers. Funds used in the marketplace go further because teachers are shopping from competitively bid contracts. 

Savings: The marketplace includes AI-powered technology, called the EqualLevel Savings Advisor (ELSA), that determines the optimal cart for the items being purchased to identify savings that would otherwise be missed. 

Automated Invoice Capture: To decrease manual processes performed daily, MyFunds’ automates invoice capture as well as reconciliation with orders and receipts.

Mobile-friendly: MyFunds’ mobile-friendly feature enables online submission of reimbursement requests with receipts for purchases made outside the marketplace. 

ACH Reimbursements: MyFunds includes the option for ACH reimbursement payments, so funds are not held up while reimbursement requests are routed for approval. 

Click here to learn more about EqualLevel’s MyFunds solution.


Cooperative Purchasing Organization Launches eMarketplace to Simplify Procurement for Members

Cooperative Purchasing Organization MHEC, New England’s Premier Purchasing Consortium, has launched their new eMarketplace, the i-buy marketplace™. The i-buy marketplace™ simplifies purchasing for MHEC members by enabling them to buy from multiple contracts utilizing the same shopping cart and interface. With 50+ contracts in their porfolio, this significantly streamlines purchasing for members.

Many-to-many Capability

MHEC began their search for an online platform in 2020 when research indicated that its members wanted a simpler means to access and purchase from MHEC contracts. Chris Raymond, Director, Contracts and Operations, noted, “It was a difficult task to find a platform that could embrace everything that was needed. We have many contracts, many products and services, and many suppliers. We needed a purchasing platform that could enable a many-to-many capability to meet the requirements identified by our members, including systems integration. We found that with EqualLevel.”


Michael Di Yeso, MHEC Executive Director spoke of the benefit of the i-buy marketplace™ for MHEC’s members stating, “We have over 2,100 members that range from large university systems to small local libraries, from municipal government offices to K-12 schools, all with varying levels of support for the purchasing function. Our i-buy marketplace™ delivers a powerful capability for our member organizations to target their search and purchase specifically to what they need, regardless of size, sector, location, or purchasing operations. It’s a game changer and I’m proud to offer it to our members.”

About MHEC

MHEC is a not-for-profit Group Purchasing Organization. The organization was created in 1977 to provide purchasing contracts for the state’s higher education systems. Its membership reach has since expanded to include any not-for-profit organization with an educational component located in the six New England states.

Click here to learn more about EqualLevel’s work with cooperative purchasing organizations.

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