Worcester Polytechnic Institute Selects DebtBook to Modernize Its Debt Management Practices & Automate Lease Accounting

CHARLOTTE, N.C.--(BUSINESS WIRE)--DebtBook, a leading provider of cloud software for treasury and accounting teams in the public finance industry, today announced that Worcester Polytechnic Institute (“WPI”) has selected the firm’s Debt Management and Lease Management solutions to unify its data, processes, and reporting.

Worcester Polytechnic Institute, a global leader in project-based learning, is a distinctive, top-tier technological university founded in 1865 on the principle that students learn most effectively by applying the theory learned in the classroom to the practice of solving real-world problems. Today, WPI manages approximately $372 million in outstanding debt.

“As part of Worcester Polytechnic Institute's strategic plan to streamline operations and enhance data-driven decision-making, we are implementing DebtBook's Debt and Lease Management software. This partnership is helping us ensure precise financial reporting and eliminate inefficiencies, supporting our mission to deliver exceptional educational experiences,” said Jane Clapp, Controller at Worcester Polytechnic Institute.

Using DebtBook as its centralized treasury management platform will enable Worcester Polytechnic Institute to streamline organization-wide knowledge capture and increase operational efficiencies. With DebtBook’s Debt Management solution, WPI's team can track debt schedules, issuance details, and historical changes, including refundings as well as disclosure requirements. With DebtBook’s Lease Management solution, WPI can automate ongoing compliance with ASC 842 and share information seamlessly with internal teams and external stakeholders.

“DebtBook’s reporting capabilities will improve accountability and reduce the time the Worcester Polytechnic Institute devotes to maintaining compliance, gathering, validating, and sharing data,” said Tyler Traudt, CEO and Co-Founder of DebtBook. “With better information and better tools, the finance team can deliver better outcomes for their students and faculty.”

About Worcester Polytechnic Institute

WPI is a top-tier STEM-focused research university and a recognized pioneer and global leader in project-based learning. Founded in 1865 on the principle that students learn most effectively by applying the theory learned in the classroom to the practice of solving real-world problems, WPI’s continued mission is to transform lives, turn knowledge into action to confront global challenges, and revolutionize STEM through distinctive and inclusive education, projects, and research. WPI’s project-based curriculum engages undergraduates in solving important scientific, technological, and societal problems throughout their education and at more than 50 project centers around the world. Today WPI offers more than 70 bachelor’s, master’s, and doctoral degree programs across 18 academic departments in science, engineering, technology, business, the social sciences, and the humanities and arts. To help address ongoing challenges, improve lives, and help create a more sustainable world, WPI faculty and students pursue groundbreaking research in such areas as the life sciences, smart technologies, materials and manufacturing, and global initiatives. www.wpi.edu

About DebtBook

DebtBook offers modern treasury and accounting software designed to help state and local government, higher education, healthcare, and others go from operational overload to strategic leadership.

Our Debt and Cash Management solutions empower strategic treasury and improve financial outcomes by automating operational work and allowing teams to more easily analyze their data and extract valuable insights. Our Lease and Subscription Management solutions give accounting teams hours back to their day by automating GASB 87, ASC 842, and GASB 96 compliance workflows. Visit debtbook.com to see why more than 2,100 organizations nationwide work with DebtBook.