UAB Educational Foundation streamlines complex fund accounting with Intacct.

The University of Alabama at Birmingham (UAB) Educational Foundation switched from Sage Timberline to Intacct in order to streamline complex reporting and investment tracking across 50 funds, and automate its purchasing processes. Intacct’s cloud financial applications save the foundation at least six days of accounts payable time each month, cut the time it takes to process bills in half, and deliver real-time, accurate fund visibility.

Our fund visibility has been drastically improved because of Intacct’s mutli-entity, multi-dimensional architecture. With the many dimensions available within Intacct, we are able to easily keep track of each fund’s separate cash or accounts payable balance, or roll up all of our funds to look at the Foundation’s overall portfolio.
Jodie Mote
Controller and Treasurer
UAB Educational Foundation

Previous business challenges

  • Wanted a flexible and full-featured financial management, accounting and purchasing system to streamline financial processes
  • Needed to more effectively manage 50 different support funds
  • Wanted a user-friendly solution that would automate manual processes and support data entry from anywhere
  • Required flexible reporting and dashboard capabilities for greater visibility into financial data

Results with Intacct

  • Cloud-based financial management solution provided anytime, anywhere access for more than 70 users
  • Modernized, streamlined purchasing processes cut invoice-to-payment time in half, increasing vendor satisfaction
  • Comprehensive automation saved 6 days each month in accounts payable time
  • Gained ability to easily track, monitor, and report on 50 funds across the University
  • Moved from only having an accurate financial picture once a year to continuous real-time budget visibility
INDUSTRY
  • Foundations
  • Nonprofits