Customer Case Studies

www.sageintacct.com 300 Park Ave #1400 San Jose, CA 95110 877-437-7765 Copyright ©2019, Sage Intacct, Inc. All rights reserved. Sage Intacct is a registered trademark of Sage Intacct, Inc. E x c h a n g i n g g l o b a l F i n a n c i a l D a t a i s a s E a s y a s E x c h a n g i n g i D E a s projects and programs. World Learning tracks grant, department, school term, project, employ- ee, user, fund, customer, and vendor dimensions. "We receive almost $100 million dollars in U.S. government grants and contracts, and manage the related projects in Sage Intacct to track timesheets, expenses, revenue, and billing." Lo- midze explained. "We slice and dice the data using project dimensions, so we are able to make mission-critical decisions on a daily basis about what projects to implement and what projects are at risk of overspending. That information helps us decide to close or extend a project and whether to ask donors for more funds or for a revision of a project's scope." World Learning maintains bank accounts in more than 60 countries. With real-time visibility into cash flow across the organization, the finance team can keep more cash in its central account and borrow less for operating cash flow. Sage Intacct's multi-currency capabilities allow World Learning to maintain a set of books in international currencies, so they can comply with local reporting requirements. Sage Intacct's open integration extended real-time visibility to information from other applica- tions, which allowed the finance team to monitor payments through 2CP payment processing and donations in their Salesforce system. Sage Intacct helps managers visualize key metrics with role-based dashboards. All managers have their own project management dashboards. Lomidze uses six dashboards to aid him in his role, and he relies heavily on his 'CFO Daily Dashboard' with information about World Learning's cash position, line of credit, endowment investments, indirect cost recovery, budget, income statement, and balance sheet. Lomidze and the organization's Controller have developed more than ten custom applications on the Sage Intacct platform that have eliminated every internal paper-based process including HR, facilities, planning and vendor processes. With these apps, Sage Intacct has driven efficien- cies throughout the organization, saving 1,200-plus staff members thousands of hours each year. Before automation, new vendor setup took 30 minutes and repetitive data entry. Now, vendors fill out their own information and the process takes just 30 seconds. Lomidze developed a forecasting tool that integrates with Sage Intacct budgeting. "It's a full- blown FP&A tool that allows us to budget at the beginning of the year and continuously update our forecast throughout the year," he said. "When the board asks where we will end the fiscal year, that's always my best forecast." The finance team now closes World Learning's books about 30% faster, saving five or more days each month. It previously took more than 15 days, leaving li le time to analyze the data. "With Sage Intacct, we close the books faster and with more accuracy, leaving us more time to work on projects that deliver the biggest impact to our beneficiaries," said Lomidze. These efficiency improvements have helped the finance team lower its headcount by five peo- ple, saving about $300,000 per year. "Since we implemented Sage Intacct, we have grown reve- nue more than 25%, and reduced the finance team by more than 20% through a rition. Those are all savings due to efficiency." year, I print a report with our income statement and budget numbers. That's my best forecast at any time of the year." With Sage Intacct, we close the books faster and with more accura- cy, leaving us more time to work on pro- jects that deliver the biggest impact to our beneficiaries. Kote Lomidze, CFAO, Treasurer and SVP of Finance, World Learning

• Cover