Vocado Receives Highest Marks in Eduventures Financial Aid Processing Competitive Analysis
Company noted for excelling at delivering products or services for higher education institutions more than any other vendor evaluated
MANHATTAN BEACH, Calif. – June 19, 2017 – Vocado, LLC, the only financial aid management solution to process each student’s financial plan individually and in real-time, was evaluated by Eduventures, the research and advisory division of NRCCUA, providing analysis and recommendations for higher education leaders. In a newly published report, Vocado was compared to 14 other financial aid processing vendors. The Eduventures Financial Aid Processing Competitive Analysis report was developed to “clarify the market for financial aid processing tools and point out areas of differentiation between these tools.” Vocado received 22 “green” marks in the report, indicating that the company excels at delivering solutions for higher education institutions. This is the highest amount of green marks bestowed to all vendors evaluated in the report.
The report states, “The conventional view of financial aid processing tools is that they allow users to apply for, track, and receive financial aid. There is increasing market pressure, however, to extend their features into other areas, such as financial literacy training, analytics, and workflows” (p. 4). It adds, “Competency-based education, for example, is creating challenges for some financial aid processing tools, requiring them to respond to different notions of academic year and to non-term calendars.”
Vocado was recognized by Eduventures for excelling more than other vendors in its “Overall Ratings by Criteria” (p. 15) analysis. The report cited Vocado’s strengths as being “built to scale to the largest numbers of packaging rules, conditions and exceptions” and built for “institutions with multiple non-traditional programs and student scenarios” (p. 26). Vocado enables simultaneous support for traditional and new academic models. It also helps colleges and universities manage each student’s financial aid plan individually, offer flexible programs for distance and life-long learners, and give students visibility into the impact their academic decisions have on their financial aid plan.
“Vocado is honored to be recognized by Eduventures as excelling in the majority of its evaluation criteria for higher education financial aid processing,” said Dan Driscoll, president and CEO of Vocado. “Vocado’s financial aid management solutions empower students by providing real-time visibility into their entire program, supporting better informed financial decisions and optimized outcomes. Not only does it save institutions time and money, it also helps students realize their academic aspirations through improved financial management.”
Vocado is the only cloud-based, expert system for real-time student finance management and actionable analytics. Vocado supports the complex financial aid management process and compliance needs of post-secondary educational institutions, and is the only financial aid management solution that addresses higher education institutions’ current requirements for accuracy, compliance and timeliness.
By using Vocado, schools can reduce time-to-aid eligibility by as much as 93 percent, increase responsible borrowing by as much as 50 percent, reduce time-to-first disbursement by 65 percent, and improve operational efficiency by 50 percent.
Vocado was created by a team of software innovators with deep experience in developing enterprise systems that address complex financial aid management processes. Vocado is designed specifically for institutions of higher education to optimize student outcomes, enhance the student experience, and maximize academic & fund flexibility.
Learn more about Vocado by visiting http://www.vocado.com/
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