Nonprofit organizations are one many vertical markets where Intacct really shines. Last week, we issued a press release on White Ribbon Alliance and the success they've seen moving to Intacct’s cloud financial applications. This week, we have a new story to highlight—a customer success story on Potential Church. This is an organization that currently uses Intacct across 13 church locations, cutting its monthly close process in half and saving around $80,000 a year in financial staffing costs from improved efficiency compared with its previous financial software.
Intacct does a great job of helping nonprofits, especially faith-based organizations of all types, manage cash, provide visibility to management, and stick to strict budgets. In the case of Potential Church, they previously used QuickBooks to support their accounts payable process, invoices, and deposits, but found that the system just could not keep up with the organization’s needs as it grew.
Potential Church evaluated several new options, including Microsoft Dynamics, before selecting Intacct as its new financial system. After just a six-week implementation, Potential Church saw immediate improvements in its accounting processes. With Intacct, the church reduced time spent on monthly close by half, Accounts Payable processing by one third, and weekly revenue recognition from five days to one.
Reggie Alexis, controller at Potential Church, noted: “Rather than constantly struggling to keep up with incoming requests for data and specific reports, we now consistently report financials in a timely manner and feel confident that we can respond to any new request easily.”
Intacct also helps with fund accounting and enables church staff to better manage budgets for new programs. With the organization’s annual women’s conference, for example, the program team is able to map costs to actual funds coming in from registrations—helping them track their expenses to plan, and avoid overspending on the event before funds have been raised.
Potential Chuch has extended the value of Intacct even further by integrating the system with other key business applications. For example, the church leverages the pre-built integrations between Intacct and Bill.com for paperless e-payments, ADP for payroll, and ExpenseCloud for expense reporting.
Added Reggie Alexis, "Because of our streamlined processes, our existing finance staff is in a great position to support Potential Church even as we add another ten campuses or so. As a matter of fact, we were able to reduce our accounting staff by one and avoid another full-time hire, saving us approximately $80,000 each year as a result of the extreme efficiencies we've gained with Intacct.”
To learn more about how Intacct helps nonprofits streamline financial processes and improve performance, I encourage you to attend one of the upcoming Intacct webinars.
Be sure to follow Intacct on all our social media channels, including Facebook, Twitter, and LinkedIn. To network with other people interested in cloud financial applications, join the Intacct Cloud Accounting group and the CFOInsights group on LinkedIn.