“Sage Intacct’s cloud-based system ended up as a clear choice over NetSuite because of its impressive multi-entity and multi-currency capabilities, as well as the great experience we had with the Sage Intacct team who showed a clear commitment to ongoing product enhancement and customer success.”
– Celine Okoh, CFO, White Ribbon Alliance
Global nonprofit organization, White Ribbon, turned to Sage Intacct to streamline manual fund accounting processes and increase productivity. The process improvements provided by IntaSage Intacctcct enabled White Ribbon Alliance to add new countries and services without any additional financial headcount, simplify its global business management, automate key financial processes, speed its monthly financial close process, and improve business visibility. These streamlined processes have also cut out a 2 to 3 month lag in the organization’s financial close process.
Previous business challenges
- With over 150 countries in its international coalition and an increasingly diverse funding portfolio, White Ribbon had to meet numerous fund accounting and compliance requirements
- Required an intuitive dashboard and greater access to real-time financial data and business metrics
- Needed to automate time-consuming processes and reduce reliance on Excel spreadsheets
- Wanted to reduce duplicate data entries that were tedious and added about two days of time to the monthly close process
Results with Sage Intacct
- Using Sage Intacct’s reports and dashboards, program managers now have easier access to real-time financial data
- Eliminated manual data entry for most of its payroll and allocation journals, a process that used to take at least a full day in QuickBooks. Sage Intacct also eliminated the organization’s paper timesheets and expense tracking
- Sage Intacct eliminated the need for the Excel spreadsheets previously used for tracking and managing multi-currency transaction conversions. White Ribbon Alliance now pays bills from Sage Intacct using built-in currency conversions, speeding a process that used to take four hours down to less than 30 minutes
- For fund accounting, White Ribbon Alliance used to rely heavily on multiple journal entries that added about two days to the monthly close process. This process is now automated and provides increased confidence that the revenue recognition matches the monthly grant allocations
Read the 2017 Buyer’s Guide to Accounting and Financial Software and Learn More About the Modern CFO’s Balancing Act.