Customer Case Studies

Deseret Mutual Benefit Administrators


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© 2019 Sage Intacct, Inc. All rights reserved. 877-437-7765 Company Overview A private, nonprofit entity, DMBA provides third-party health and retirement benefits administration to 26 organizations owned by or affiliated with the Church of Jesus Christ of La er-Day Saints. Learn more at Executive Summary Previous So ware: • Legacy on-premise accounting system Results with Sage Intacct: • Reduced financial statement work from 20 hours to minutes • Cut volume of accounts from 10,000 to 500 • Saved 20 hours per week with automated journal entries • Eliminated manual work by 10 hours monthly with cost allocations Challenges Nonprofit Upgrades for New Finance Efficiency, Insights Founded in 1970, Deseret Mutual Benefit Administrators is a third-party administrator that manages healthcare and retirement benefits for employees of 26 organizations owned by, or affiliated with, The Church of Jesus Christ of La er-Day Saints. For seven consecutive years, the Utah-based DMBA has been ranked #1 in a consumer satisfaction survey conducted through the Utah Department of Health. As a nonprofit third party administrator, DMBA faced complex financial management challenges that its accounting systems and processes weren't suited to handle. Its chart of accounts had grown to more than 10,000 accounts across eight entities, managed in an outdated, on-premise legacy accounting system nearing its end of life. Each account had to be manually examined and maintained, and none could be shared. That meant a great deal of manual work for the DMBA accounting team, especially in creating monthly financial statements in Excel, and this limited visibility across the organization. "We were spending more time creating financial statements than analyzing them," said Todd Hansen, DMBA controller. "We would just barely finish compiling the numbers before a due date and have very li le time le for analysis and validation." In addition, the accounting staff spent 20 hours a week on manually posting journal entries because the previous system lacked automation, and all reporting had to be done in spreadsheets. DMBA recognized it was time to upgrade to a modern cloud financial management solution. Solutions Saving 20 Hours a Week with Automated Journal Entries A er a review of five vendors, DMBA narrowed its options down to Sage Intacct and NetSuite, which Hansen had used previously at a large retail chain. Sage Intacct excelled due to its strong reporting and multi-dimensional capabilities, deeper focus on accounting, and a trusted, open API that allows for seamless integration with other key business applications. "We think that Sage Intacct is a much be er solution for us since it's specifically designed for accountants," Hansen said. "We love the flexibility. The open API is a big win for our IT team as a key feature that would enable them to be able to program interfaces and automate processes without issue." DMBA has dramatically improved financial management efficiency and insights since going live with Sage Intacct, with implementation by Sage Intacct partner Armanino LLP. By applying Sage Deseret Mutual Saves 30+ Hours Monthly & Delivers Data-Driven Insights Deseret Mutual Benefit Administrators C A S E S T U D Y

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