Customer Case Studies

Room to Read


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© 2018 Sage Intacct, Inc. All rights reserved. 877-437-7765 Challenges Building a Financial Infrastructure to Support Rapid Expansion Room to Read is an international nonprofit organization that has improved literacy and girls' ed- ucation across 20,000 communities around the world. Having benefi ed more than 12.4 million children and with a goal of reaching millions more, the non-governmental organization (NGO) has experienced extraordinary growth—reaching $50 million in annual revenues. A er rapidly expanding to offices in 10 countries, Room to Read's management team saw an opportunity to scale these efforts even further. They recently implemented an "Accelerator" model that involves partnering with local government agencies and other NGOs to bring Room to Read's expertise into new geographies. Amid these changes, the organization hired a new CFO and decided to replace its server-based general ledger system (Epicor) with a more robust financial infrastructure to support increasing complexities and long-term growth. "At Room to Read, we are obsessed with measuring program outputs, such as the number of library books produced and checked out, the number of teachers and librarians we've trained, and the number of participants in our programs. However, our finan- cial information simply wasn't granular enough to add meaningful insights like cost per activity or investment per child," explained Shari Freedman, CFO at Room to Read. "We were excited by the prospect of obtaining financial data that was tied to operational information and could tell a more informative story about our progress over time." Room to Read went in search of a new cloud-based system that couldhandle its varied donor reporting requirements, provide multi-entity, multi-currency capabilities, and offer global support for accounting and finance staff around the world. The NGO chose Sage Intacct and worked with its implementation partner, Armanino, to plan and design an entirely new general ledger struc- ture, transfer its historical data, and automate financial processes. Solutions Improving Productivity with Faster Reporting and Consolidations By leveraging Sage Intacct's dimension capabilities, Room to Read dramatically streamlined its chart of accounts from 56,000 to just 100 accounts and can now tag transactions with details such as specific programs and locations. This enables the organization to easily filter, group, and organize financial and operational data for more efficient, detailed reporting. Room to Read also benefits from Sage Intacct's many best-in-class integrations, including seamless connections with Salesforce for operations data; Adaptive Insights for financial planning; and Nexonia for timekeeping and expense report automation. Executive Summary Previous Solution: • Epicor Results with Sage Intacct: • Streamlined consolidations across 25 entities and 19 currencies • Increased donor confidence through more specific and timely reporting • Scaled easily with rapid growth, improving productivity >25% for both worldwide field operations and global finance teams • So ware paid for itself in <6 months Building a Financial Infrastructure to Support Rapid Expansion Room to Read C A S E S T U D Y

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