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IslandWood is a nationally recognized outdoor learning center that connects thousands of children and adults to the natural world. After years of growth, this educational nonprofit decided to shift its business systems to 100% cloud-based software to handle its ongoing expansion. It looked for a best-in-class cloud financial management application that could easily interface with its Salesforce CRM and manage the organization’s growing financial complexities across a broader range of donors, grants, and programs.

Previous Business Challenges

  • Previously, IslandWood was using a hodgepodge of different systems that it manually merged together each month, and its finance team relied heavily on Excel spreadsheets. For example, they entered all school and customer invoices into QuickBooks, and then had to wait until the end of the month to put summary entries into Blackbaud Financial Edge, a nonprofit-focused accounting system. As a result, the organization wasn’t able to monitor its income streams, expenses, or cash balances in real time.
  • “After completing our evaluation of potential new accounting systems, we chose Sage Intacct because it delivered everything we needed to efficiently run our organization in a reliable, easy to access, web-based solution,” said Jennifer Sharp, senior accounting manager at IslandWood.

Results with Sage Intacct

  • Eliminated over 360 manual person-hours annually
  • Shortened monthly close by 2 days
  • Gained real-time visibility into programs, donors, funds, fund types, and grants

Reasons for Selecting Sage Intacct

  • IslandWood replaced its previous systems with Sage Intacct’s modern financial applications, significantly increasing the organization’s
    day-to-day productivity.
  • Sage Intacct automates financial processes such as invoicing, accounts receivables, credit card reconciliation, accounts payables, and reporting – reducing the time it takes the finance team to consolidate and close the books by at least two days each month.
  • In addition, IslandWood now inputs credit card purchases directly into Sage Intacct daily. By processing expenses as they come in, rather than waiting until the end of the month, its AP clerk saves at least a day of work each month. In total, Sage Intacct’s automated processes save the organization’s lean accounting staff around 30 hours of work per month.
  • IslandWood’s greatest benefit from moving to Sage Intacct has been its radically improved financial and operational visibility. In addition to using Sage Intacct’s pre-built library of reports, IslandWood created several custom reports that leverage Sage Intacct’s multi-dimensional general ledger to track key operational metrics, improve fund and grant management, and streamline expense tracking.
  • IslandWood “tags” each transaction for easy reporting against dimensions like event, fund type, specific grant, or customer segment, so the finance team can now slice and dice its financial data however it wants. “Now, I use my custom reports in Sage Intacct to give our CEO and senior vice presidents a consistent, real-time view of our financial data – from high-level summaries of funding information and budgets, down to individual contributions and program expenses,” commented Sharp.
  • Sage Intacct also gives IslandWood reliable visibility into donations and credit card transactions, with automatic postings to the general ledger so the organization doesn’t have to wait until the end of the month to analyze its budget to goals. As a result, the company benefits from error-free insight into its different grants and fund types, because it can run any report on an individual fund, or across a whole category.

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"Not only has Sage Intacct saved us several days of cobbling together spreadsheets each month, it has allowed us to keep up with increasing complexity without additional headcount. If we didn’t have Sage Intacct, we would have needed at least another half-time resource at around $15,000 per year – not an insignificant cost for a nonprofit like us."

–Jennifer Sharp, Senior Accounting Manager, IslandWood