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In Search of Trusted Financial Data to Reduce Uncertainty and Increase Agility
As the off-reservation economic development arm of the Hopi people in Northeastern Arizona, the Hopi Tribe Economic Development Corporation (HTEDC) runs seven diverse service entities. The organization gets several revenue streams from its motels, restaurants, and shopping centers, and also manages about two dozen non-operating, undeveloped proprieties. After a decade of using basic QuickBooks accounting software, the finance team decided they needed better financial management tools to help run this complex business and deliver more meaningful, timely reports to the CEO and board of directors.
After a lengthy search, the company decided to implement the Sage Intacct cloud ERP solution. “We wanted a scalable system that would support all of our multiple subsidiaries, which each have their own unique managerial challenges,” said Larry Chank, HTEDC’s CFO. “We looked at Microsoft Dynamics and NetSuite, but ultimately chose Sage Intacct because it is a lot more flexible for small, but complex, businesses like ours, and we knew it could keep pace with our growth.”
HTEDC worked with Sage Intacct partner Joseph Eve to implement the system, configure it to the organization’s specific structure and requirements, and seamlessly integrate it with ADP payroll software.
Previous business challenges
- Needed better financial management tools
- More meaningful, timely reports for CEO and board
- Budget forecast in real-time vs. months-old historical data
- Accurate financial statements and data
Results with Sage Intacct
- Software directly led to nearly $7M in value for the business
- Increased overall gross margins by 20%
- Improved cash flow by $500K
- Manage operations, pricing, and forecasting in real-time
- Accelerate ROI on major development projects