SANTA ANA, Calif.--(BUSINESS WIRE)--Greenwood Hall Inc. (OTCBB: ELRN), education technology provider of dynamic student lifecycle management solutions for colleges and universities, today outlined its growth strategy and its financial and operating targets for the coming year. Following a recent recapitalization, the company is positioned for accelerated growth.
“Students today are seeking greater flexibility in the delivery of education, more access to educational opportunities, more personalized support, and more assurance of a positive return on investment from their education,” said Greenwood Hall Chief Executive Officer and Co-founder John Hall, Ed.D. “These changes in student preferences are creating enrollment and retention challenges for many tuition-based post-secondary education institutions. We are the only company providing customized solutions that combine highly trained professionals, technology and strategies that address these challenges, resulting in better financial performance by institutions and more successful outcomes for students.
“At Greenwood Hall, we are uniquely focused on the full student lifecycle, from pre-enrollment personal engagement through post-graduation career advising, job placement and alumni relationship management services. We consider the student lifecycle to be an enduring one that continues after the critical milestone of graduation. Students expect support from their institutions after graduation so their education delivers a maximum ROI. At the same time, schools cannot take alumni relationships for granted. Alumni are an important source for donations and, in our contemporary economy, will have lifelong learning needs that schools can support.
“Over the past 16 years, we have been providing mission-critical lifecycle solutions for non-profit organizations, including high-profile groups such as the American Red Cross. We used our technology, know-how and success in this business to enter the education market in 2006. Since then, we have generated more than $250 million in tuition revenue for our clients and have worked with more 450,000 students. We have a growing client list that includes highly recognized institutions such as Ole Miss, The University of Alabama, Capella University, and Embry Riddle Aeronautical University. What truly sets us apart is our world-class team and our first-hand knowledge of higher education. We are deeply passionate about the future of education and profoundly believe that every student can learn with the right support.
“We have scalable technology-enabled solutions to grow aggressively, and we are building our sales force to expand our client base and services to existing clients. We have a roadmap for enhancing our solutions through the development of innovative technologies that better engage students and help them build stronger collaborative relationships with their schools. As an example, we are working with Klass Apps on an exclusive, customized mobile app with an array of highly interactive school-based features, such as live personalized success advising, tutoring and career planning. Additionally, we plan to use data analytics from our technology solutions to gain even greater insights into enrollment and engagement patterns.
“I’m excited about our recent entry into the public market,” added Dr. Hall. “We are clearly focused on enhancing shareholder value and Greenwood Hall is one of a very few public companies where investors can participant in this dynamic growth sector that is dominated by venture and private equity investors.”
Financial and Operating Targets
Greenwood Hall’s one-year financial and operating objectives include:
- Growing revenues 20% to 25% year-over year for fiscal 2015 (December 31st year end).
- Increasing customer accounts to more than 45, with more than 100 forecasted by end of 2017.
- Significantly expanding direct sales, marketing, and new business acquisition partnerships.
- Introducing new technology-based programs focused on student success and enhanced experiences, with education technology products deployed in at least seven institutional clients.
The company expects to begin expansion into the K-12 and international markets by end of 2015.
Business Growth Drivers
The key drivers that support our three-year goals, include:
Vast, untapped market ripe for disruption: The post-secondary education market in the U.S. includes approximately 4,500 colleges and universities. Pressed by a secular shift in the higher education market, colleges and universities are seeking technology-enabled solutions to ensure their continued relevancy. Greenwood Hall provides comprehensive services to help these institutions reinvent their business models for improved financial and operating results.
First-mover advantage and strong reputation: Over the past 16 years, Greenwood Hall has partnered with world-class non-profits and fundraising organizations such as the American Red Cross, Hope for Haiti Now, Stand Up to Cancer, Idol Gives Back and National World War II Memorial Dedication. In 2006, the company took its proven success, technology and strategy into the education technology market. The company now has an established record of interacting with students to increase enrollment and retention and optimizing the financial aid process, among other services.
Experience serving public and not-for-profit school clients: Greenwood Hall primarily serves public and not-for-profit institutions, and has built a solid reputation supporting these types of institutions. This is a key fact as public and not-for-profit schools are more likely to partner with providers such as Greenwood Hall. Additionally, these institutions have not been subject to the regulatory or financial pressures that recently have plagued some for-profit schools.
Strategic, seamless partnerships with clients: Greenwood Hall’s management has significant knowledge of the education sector and the flexibility to develop school-specific solutions. The company partners with its education clients to implement results-oriented programs and develops meaningful relationships with students to foster better outcomes. The customer relationship is handled directly with institution leadership rather than IT, and the team is actively involved on an ongoing basis to optimize the results, with transparency in all Greenwood Hall activities. Greenwood Hall has retained many clients for more than three years.
Scalable, proven platform combining people, technologies and strategy: Greenwood Hall’s platform of technology-enabled services and highly trained counselors position the company to efficiently grow its client base and expand opportunities with existing clients. The platform is highly scalable, which provides future expansion opportunities into the K-12, corporate education, and international markets.
New business acquisition capabilities: Greenwood Hall is ramping up its business development infrastructure including its direct sales team, public relations initiatives, and industry partnerships to scale-up its sales platform.
New education technology offerings for improved competitive position: Greenwood Hall is enhancing its solutions through a roadmap for the development of innovative, proprietary technologies that meet the lifestyles of today’s student – a critical component in engaging and retaining students in the changing higher education landscape.
About Greenwood Hall, Inc.
Powering the education revolution one student at a time, Greenwood Hall helps colleges and universities increase enrollments, create positive student experiences and enhance learning outcomes throughout the student lifecycle via dynamic cloud-based solutions that integrate state-of-the-art technology, higher education expertise, project management and workforce solutions. Since establishing its education business in 2006, Greenwood Hall has grown to more than 150 employees serving more than 30 education clients and more than 70 degree programs. The company is headquartered in Orange County, California, with facilities in Phoenix, Arizona, College Station, Texas and Shanghai, China.
Certain statements contained in this document, including, but not limited to, predictions and projections that may be considered forward-looking statements under securities law, involve a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to, lack of consumer acceptance and demand for the Company’s products, insufficient working capital to expand the Company’s technology and engage in product marketing, intense competition from larger and more well-established companies, and other economic, competitive and technological factors involving the Company’s operations, markets, services, products and prices.