Email: peter.olson [@] sage.com
Data-driven nonprofit slashes monthly close time by 66% with Sage Intacct
JumpStart Inc. implements cloud-based accounting software from Sage to accelerate invoicing by 80% and shorten billing cycles from 60 to 15 days.
ATLANTA – September 11, 2019 – Sage (FTSE: SGE), the market leader in cloud business management solutions, today announced that JumpStart Inc. leveraged Sage Intacct to grow the nonprofit by 50% with only a 25% expansion of its finance team in just two years. With Sage Intacct, Jumpstart’s planning cycles are twice as fast, while reforecasting and budgeting can be done in a three-week window rather than a 60-day cycle.
JumpStart Inc. is a nationally recognized non-profit that provides investment capital and intensive, high-impact assistance to a diverse range of entrepreneurs and small business owners across Ohio. When JumpStart expanded to offer more advisory services, a nonprofit investing arm, and a for-profit fund called the JumpStart Next Fund, the finance team was under increased pressure. To ease the burden, JumpStart took a fresh look at the organization’s systems and processes – including making the decision to replace its on-premises system with Sage Intacct’s cloud-based financial management solution.
Sage Intacct’s multi-entity capabilities, strong financial controls, and flexible dimension capabilities met JumpStart’s diverse and expanding financial management needs. The finance team is now capable of creating more than a dozen permissions-based dashboards for different leaders across the business, leveraging Sage Intacct’s dimensions to capture business context for reporting by program, funder, restricted grants, line of business, vendor, and even individual employees.
“I used to spend 75% of my time checking the accuracy of our financial data and overseeing transactional work,” says Karen Adame. “Since transitioning from Microsoft Dynamics SL, I’ve dramatically shifted my focus. Thanks to the automation and visibility we’ve gained with Sage Intacct, I can now spend my energy analyzing our financial information and making operational decisions that impact the business.”
After implementing Sage Intacct, JumpStart’s finance team realized significant benefits, including:
- Additional insight into finances: Sage Intacct provides extra visibility in identifying high costs for IT outsourcing that hadn’t been identified before, which cut unnecessary expenses in half.
- Accelerated budgeting cycles and invoicing: High detail and visibility has led to a 90% more accurate budgeting in a three-week window, rather than the previous 60-day cycle, as well as turning around service invoices from two weeks to two days.
- Increased efficiency with minimal headcount: JumpStart has seen an overall efficiency improvement of 30% through automated workflows and fewer incoming questions, since everyone has timely, accurate financial information via their personalized Sage Intact dashboards.
“The majority of our work is done by shared staff who divide their time across multiple business entities, 12 lines of business, and many clients. We budget estimated time from each employee in advance for specific programs, and it’s extremely important that their actual time is allocated accurately, especially for state grant reimbursements,” added Adame. “With Sage Intacct’s statistical accounts, we avoid hours upon hours of manual work because it’s easy to capture time tracking data, then compare it to our initial plans to make sure nothing is out of whack before we close out the month.”
For more information on how JumpStart Inc. uses Sage Intacct, view the full case study.
Sage (FTSE: SGE) is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up, or enterprise. We do this through Sage Business Cloud – the one and only platform that customers will ever need, comprising Accounting, Financials, Sage Intacct, Enterprise Management, People & Payroll, and Payments & Banking.
Our mission is to free business builders from the burden of admin, so they can spend more time doing what they love – and we do that every day for three million customers across 23 countries, through our 13,000 colleagues and a network of accountants and partners. We are committed to doing business the right way and giving back to our communities through Sage Foundation. Find out more at www.sage.com/en-us.