White Ribbon Alliance Graduates from QuickBooks to Intacct’s Multi-Entity, Multi-Currency Cloud Financial Applications
Global Nonprofit Organization Aligns with Intacct to Streamline Manual Fund Accounting Processes and Increase Productivity
SAN JOSE, Calif. – Jan. 15, 2013 – Intacct, a leader in cloud financial management and accounting software, today announced that The White Ribbon Alliance for Safe Motherhood has graduated from QuickBooks® to Intacct. This move has simplified the organization’s global business management, automated key financial processes, sped its monthly financial close process, and improved business visibility.
White Ribbon Alliance is a global network of maternal health advocates campaigning for resources and policies to reduce mortality rates for mothers in developing countries. With over 150 countries in its international coalition and an increasingly diverse funding portfolio, the nonprofit organization had outgrown their QuickBooks system and turned to Intacct to meet its fund accounting and compliance requirements.
“As a global organization with different entities in the United States, United Kingdom, and Nigeria, QuickBooks was no longer meeting our needs when it came to international operations, reporting, or remote access for our distributed workforce,” said Celine Okoh, chief financial officer at White Ribbon Alliance. “After a wide-ranging evaluation process covering more than 40 on-premises and cloud-based systems of varying sizes, we narrowed our options down to Intacct or NetSuite. Intacct’s cloud-based system ended up as a clear choice over NetSuite because of its impressive multi-entity and multi-currency capabilities, as well as the great experience we had with the Intacct team who showed a clear commitment to ongoing product enhancement and customer success.”
White Ribbon Alliance worked with CliftonLarsonAllen, an Intacct business partner, to implement Intacct and migrate its QuickBooks files into the new system. CliftonLarsonAllen also helped White Ribbon Alliance adopt best practices around Intacct, enabling the organization to quickly automate business processes such as fund management, foreign currency conversions, employee timekeeping, and payroll allocation.
With Intacct, White Ribbon Alliance has seen several key benefits:
Easier Access to Organizational Metrics – Using Intacct’s reports and dashboards, program managers now have easier access to real-time financial data. This provides the organization with better financial visibility to make decisions.
Elimination of Duplicate Data Entry – White Ribbon Alliance eliminated manual data entry for most of its payroll and allocation journals, a process that used to take at least a full day in QuickBooks. Intacct also eliminated the organization’s paper timesheets and expense tracking, saving both employees and the finance team time and effort.
Streamlined Currency Conversions – Intacct eliminated the need for a cumbersome Excel spreadsheet that the organization previously used for tracking and managing multi-currency transaction conversions. White Ribbon Alliance now pays bills from Intacct using built-in currency conversions, speeding a process that used to take four hours down to less than 30 minutes.
Improved Grant and Donation Tracking – For fund accounting, White Ribbon Alliance used to rely heavily on multiple journal entries that were tedious and added about two days of time to the monthly close process. With Intacct, this process is now automated and provides increased confidence that the revenue recognition matches the monthly grant allocations.
The process improvements provided by Intacct enabled White Ribbon Alliance to grow, adding new countries and services, without adding any additional financial headcount. Streamlined processes have also cut out a two to three month lag in the organization’s financial close process.
“Intacct’s ability to streamline our financial process and deliver real-time financial data and business metrics in an intuitive dashboard is a huge benefit to our management team and our program managers around the world,” added Okoh. “We continue to be impressed with Intacct’s functionality and we expect even greater results as we automate more management reports, finesse our dashboards with additional real-time business metrics, and connect Adaptive Planning to Intacct for seamless budgeting and planning integration. Our board has been and continues to be very supportive and excited about the decision we made to go with Intacct, and we’re confident that we can continue to grow without hiring additional finance headcount.”
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Intacct is the cloud financial management company. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct accounting software, in use by more than 7,300 organizations from startups to public companies, is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to their clients. The Intacct system includes applications for accounting, contract management, revenue recognition, project accounting, fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting, all delivered over the Internet via cloud computing.