Press Release

Educational Nonprofit Uses Intacct’s Cloud Financial Software to Manage Continued Growth

IslandWood Moved from Blackbaud to Intacct to Minimize Data Entry and Gain Greater Financial and Operational Visibility

IslandWood
If we didn't have 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.

SAN JOSE, Calif. – Sept. 18, 2014 – Intacct, a leader in cloud financial management and accounting software, today announced that IslandWood switched from Blackbaud Financial Edge to Intacct nonprofit accounting software in order to streamline financial processes and gain real-time visibility into financial metrics.  As a result of implementing Intacct, IslandWood achieved increased productivity across invoicing, accounts receivables, credit card reconciliation, accounts payables and reporting, as well as improved financial and operational insight across multiple dimensions of the organization.

In a new case study published today, Intacct highlights the results IslandWood achieved by switching to Intacct’s cloud financial applications. The full case study is available for download at http://www.intacct.com/customer-success-stories/islandwood. Here is a quick overview of the profile:

Previous Business Challenges Faced by IslandWood:

  • Growing nonprofit wanted a modern, financial management solution to streamline complex accounting for 23 departments
  • Lacked transparency and accurate grant reporting as a result of consolidating data in Excel
  • Needed to integrate financial management with existing Salesforce CRM system
  • Looking to track and analyze income streams, expenses, or cash balances in real-time


Results with Intacct:

  • Managed organization’s rapid expansion without adding finance headcount, saving $15,000 in annual salary costs
  • Eliminated spreadsheets and duplicate data entry, saving over 360 person-hours annually and shortened monthly close by two days
  • Streamlined processes and increased visibility for sales and finance teams through integration with Salesforce
  • Gained visibility to monitor and report on programs, donors, funds, fund types, and grants across the organization


Highlighted Comments from Jennifer Sharp, IslandWood’s senior accounting manager:

“With Intacct, we have a true cloud system that streamlines our financial processes and gives a wide variety of people in our organization real-time visibility into key financial metrics from anywhere.”

“The efficiencies we’ve achieved by moving to Intacct have been better than we could have imagined and are extremely valuable to our organization. If we didn’t have 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.”

“The dimensions in Intacct have been a huge timesaver. We can easily track and report on all financial metrics, not just for our operating fund, but by each of our half-dozen restricted funds and individual grants. This is so much easier and more accurate than managing separate spreadsheets and will be critical for us as we expand.” 

About Intacct

Intacct is the customer satisfaction leader in cloud ERP software. Bringing cloud computing to finance and accounting, Intacct’s innovative and award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 11,000 organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, subscription billing, contract management, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered over the Internet via cloud computing.

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765. Connect with Intacct on LinkedIn, Facebook, Twitter, Instagram, Google+, and YouTube.

Media contacts

Peter Olson

Phone: 408-878-0951
Email: polson [@] intacct.com
Twitter: @Intacct_Peter

Brittany Benson

Phone: 408-620-3938
Email: bbenson [@] intacct.com
Twitter: @brittanybbenson

Finn Partners

Phone: 415-905-4000
Email: intacctteam [@] finnpartners.com
Twitter: @finnpartners