Company Website:
http://www.greenwoodhall.com/
SANTA ANA, Calif. -- (Business Wire)
Greenwood
Hall Inc. (OTCBB: ELRN), an emerging cloud-based education
management solutions provider, today announced that Chief Executive
Officer and Co-founder John Hall, Ed.D, issued the following Letter to
Shareholders outlining the Company’s value proposition and growth
strategy.
Dear Shareholders and Friends,
It is my pleasure to share our vision for Greenwood Hall and the
significant opportunity we see for our Company. As a provider of
cloud-based education management solutions, we have an end-to-end
solution to address one of the most critical priorities of education
institutions today – the efficient management of the entire student
lifecycle. We are an established participant in this emerging market
with a strong, scalable operating model, a seven-year track record of
generating financial and operational improvement for colleges and
universities, and a clear focus on student success.
We estimate the domestic market opportunity for our services in higher
education to be in excess of $8.9 billion and project it will grow to
nearly $15 billion by 2019. Our market includes more than 4,700 colleges
and universities. As of today, we have penetrated less than 1% of this
sizeable market, which we believe creates considerable runway for growth.
Unique Value Proposition
Looking beyond market size, we believe we have a strong value
proposition to help education institutions address the challenges that
many are facing in today’s environment of rising expenses, declining
enrollment, demands for greater accountability and expectation that
students will receive quantifiable benefit from their education. Through
our offerings, we can provide one of the only end-to-end solutions that
span the entire student lifecycle and help solve major problems in
education. Schools need a significant amount of support to combat the
severity of challenges they face and our solutions make a real impact.
Consider the following:
-
College enrollments are down by nearly 1 million students since 2011
-
Student loan debt exceeds $ 1.1 trillion
-
Average student graduates with $ 33,000 in debt but less than 60%
actually graduate
-
The Federal Reserve of New York estimates that 44% of recent College
Graduates with a Bachelor Degree are in a position that requires a
degree
-
Most public colleges and many private colleges will be unable to
achieve a 3-percent annual growth rate in operating revenue (Moody’s
benchmark for sustainable financing at a time of low inflation)
Our model combines strategy, experienced personnel, proven processes and
robust technology to support universities and colleges at every point of
student engagement including recruitment, enrollment counseling,
retention and coaching, career preparation, career advising, job
placement, and ongoing alumni relations. Instead of purchasing products
or services, schools typically hire Greenwood Hall to help address major
challenges that affect revenue. As such, the value we deliver enables us
to build long-term relationships with our clients. Our solutions also
benefit students seeking flexibility in accessing their education,
address affordability requirements, help students accomplish their
education and career goals, and generate a strong return on investment.
Proven Business Model
Since 2006, Greenwood Hall has helped colleges and universities generate
in excess of $270 million in college tuition revenue by custom tailoring
our solutions to each institution’s requirements and organizational
structure. Our accomplishments include: generating more than 31,000 new
enrollments for our school partners, reducing the cost of student
services by an average of 41%, reducing student acquisition cost by as
much as 36%, and providing our clients with a return on their investment
of up to 55%. We have served more than 450,000 traditional and
non-traditional students and handled more than 5 million student
inquiries.
Prestigious Client Base
Our list of prestigious colleges and universities is growing. Our
clients include major public universities, faith-based schools,
community colleges, and private not-for-profit institutions. To date we
have served more than 40 education clients and more than 70 individual
degree programs.
Multi-Prong Strategy for Global Growth
We have a strong growth strategy in place to expand through multiple
avenues. First, we are increasing our salesforce to cultivate new
education clients and to target additional opportunities within our
existing client base. Next, we plan to enhance our solutions through
additional SaaS-technology offerings, including learning management,
mobile course delivery and other technologies aimed at supporting
student engagement and success. We are also positioning Greenwood Hall
as a thought leader that helps schools address major challenges.
We believe our offering is a key differentiator in that it is
technology-agnostic and easily incorporated with our clients’ existing
technology. Last month we entered into an agreement to acquire a
workflow and learning management technology platform that we believe
will provide us with another competitive advantage. We also see a
compelling future opportunity in the K-12 education and professional
education markets as well as the international markets, where we
established a presence in Shanghai, China last year. With an overall
global education marketplace valued at more than $4 trillion, we have
taken special care to build our service platform so it can seamlessly
support major education verticals around the world.
Building for the Future
In 2014, we took a number of important steps to position Greenwood Hall
to better capitalize on these market opportunities. Specifically, we
focused our resources on strengthening our already established
infrastructure, facilitating a $9 million recapitalization. These
actions are reflected in our financial results on Form 10-K for fiscal
2014: http://www.sec.gov/Archives/edgar/data/1557644/000161577414000478/s100563_10k.htm.
We are now well prepared for future growth with a technology-enabled
platform capable of handling millions of student inquiries, and
state-of-the-art education service centers that leverage cloud-based
technology.
To help us execute on our strategy, we have strengthened our leadership.
Last month, we welcomed Tina J. Gentile as interim Chief Financial
Officer. Tina has significant senior financial experience and is already
proving to be a highly valuable resource to the Company. Just recently,
Los Angeles Business Journal publisher and Chief Executive Officer Matt
Toledo and former Simon & Schuster Chairman and Chief Executive Officer
Jonathan Newcomb joined our Board as independent directors. Matt and Jon
bring extensive leadership and industry and corporate governance
experience. We are delighted to partner with such highly accomplished
professionals to help guide our Company to the next level.
In closing, our mission is to continue building our leadership position
and reputation for achieving results to an industry in critical need of
our expertise and solutions. I would like to thank our shareholders,
employees, clients and many others who are helping us achieve our goals.
We have come a long way already and we are even more excited about our
future. Importantly, we are dedicated to growing our Company and
delivering value to our shareholders, while serving the needs of our
clients and their students.
With every best wish,
John Hall, Ed.D.
Chief Executive Officer, Co-Founder, Chairman of
the Board
Greenwood Hall, Inc.
About Greenwood Hall
Greenwood Hall is an emerging cloud-based education management solutions
provider that delivers end-to-end services for the entire student
lifecycle, including offerings that increase student enrollment, improve
student experiences, and help schools maximize operating efficiencies.
Since 2006, Greenwood Hall has developed customized turnkey solutions
that combine strategy, people, proven processes and robust technology,
to help schools effectively and efficiently improve student outcomes, as
well as increase revenues and expand into new marketing channels, such
as online learning. Greenwood Hall has served more than 40 education
clients and over 70 degree programs.
For more information, visit http://www.greenwoodhall.com,
follow us on Twitter @GreenwoodHall
and like us on Facebook at http://www.facebook.com/GreenwoodandHall.
Forward-looking Statements
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.
Contacts:
Investor Contact
Financial Profiles, Inc.
Kristen Papke
– kpapke@finprofiles.com
Marissa
Moran - mmoran@finprofiles.com
310-478-2700
or
Media
Contact
PondelWilkinson Inc.
George Medici - gmedici@pondel.com
Evan
Pondel - epondel@pondel.com
310-279-5980
Source: Greenwood Hall
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