Nonprofit Canine Companions® saves $ 500,000 per year and
ATLANTA, October 7, 2021 (GLOBE NEWSWIRE) – sage (FTSE: SGE), the market leader in cloud business management solutions, today shared business improvements Canine companions gained by moving its financial software to the cloud with Sage Intacct. Moving from an on-premises accounting software that required the finance team to do 70% of their work manually in Excel or with paper-based workarounds, Canine Companions automated processes and gained better organizational knowledge. . With the new solution, Canine Companions was able to scale its financial operations to keep pace with their 2.4-fold growth in grants, assets and transactions, while processing receivables 50% faster and reducing costs. ‘half a million dollars.
Over the past four decades, Canine Companions has associated more than 7,000 service dogs with disabled adults, children and veterans, all at no cost to customers. With a mission to bring greater independence to these program participants, the not-for-profit human services organization now spans six training sites across the United States. Canine Companions management credits the digital transformation enabled by Sage Intacct as the reason the finance team has been able to keep up with the growth of the nonprofit organization.
“Seeing where the organization was five years ago and how it operates now with modern automation and understanding has been very rewarding,” said Jack Peirce, CFO of Canine Companions. “Sage Intacct has made it very easy for us to absorb our rapid growth in transactions, and we have done so effectively while maintaining internal controls. We are now realizing economies of scale.
With their regional reach, it was essential to manage the complexity between locations and functions with the cloud. With their move to Sage Intacct, Canine Companions’ finance team quickly achieved incredible results, including:
- $ 500,000 in annual savings thanks to better visibility on expenses. Canine companions can now more easily spot opportunities to cut expenses. They have become more efficient with spending on dog food and telecommunications, for a total savings of about $ 500,000 per year, which can now be used to deliver additional programs.
- 50% freeing of time spent processing gifts. Improvements to the finance team’s workflow include 40% more efficient accounts payable and purchasing, as well as 50% faster and more accurate accounts receivable processing for donations and gifts. This was achieved by fully automating previously manual tasks such as documenting journal entry approvals and issuing paper checks.
- Audit process shortened by 25% and audit cost reduced by 20-25%. Thanks to the new visibility offered by Sage Intacct, Canine Companions was able to reduce round trips during audits. By providing read-only access to Sage Intacct for auditors, they can speed up audits by 25% and expect efficiencies to deliver 20-25% savings on corporate audit. ‘next year.
- Improved the ROI of the fundraising event by 10%. More recent information has helped the association increase the return on investment of its fundraising events by 10%. They achieved this by following the fundraising measures for corporate and individual donations.
In addition to these improvements, the new system has also expanded the ability of canine companions to research more complex grants that were previously out of reach. Pierce notes, “Our development team is no longer afraid of restricted funds or pledges. They know we can account for and administer them effectively, so they will have the information they need to manage these donors.
For more information on how Canine Companions is benefiting from its switch to Sage Intacct, read the full case study here.
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