Educational Nonprofit Uses Intacct's Cloud Financial Software to Manage Continued Growth

IslandWood Moved from Blackbaud to Intacct to Minimize Data Entry and Gain Greater Financial and Operational Visibility

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Sep 18, 2014, 08:45 ET

SAN JOSE, Calif., Sept. 18, 2014 /PRNewswire/ -- Intacct, a leader in cloud financial management and accounting software, today announced that IslandWood switched from Blackbaud Financial Edge to Intacct in order to streamline financial processes and gain real-time visibility into financial metrics. As a result of implementing Intacct, IslandWood achieved increased productivity across invoicing, accounts receivables, credit card reconciliation, accounts payables and reporting, as well as improved financial and operational insight across multiple dimensions of the organization.

In a new case study published today, Intacct highlights the results IslandWood achieved by switching to Intacct's cloud financial applications. The full case study is available for download at http://www.intacct.com/customer-success-stories/islandwood. Here is a quick overview of the profile:

Previous Business Challenges Faced by IslandWood:

Growing nonprofit wanted a modern, financial management solution to streamline complex accounting for 23 departments
Lacked transparency and accurate grant reporting as a result of consolidating data in Excel
Needed to integrate financial management with existing Salesforce CRM system
Looking to track and analyze income streams, expenses, or cash balances in real-time

Results with Intacct:

Managed organization's rapid expansion without adding finance headcount, saving $15,000 in annual salary costs
Eliminated spreadsheets and duplicate data entry, saving over 360 person-hours annually and shortened monthly close by two days
Streamlined processes and increased visibility for sales and finance teams through integration with Salesforce
Gained visibility to monitor and report on programs, donors, funds, fund types, and grants across the organization

Highlighted Comments from Jennifer Sharp, IslandWood's senior accounting manager:

"With Intacct, we have a true cloud system that streamlines our financial processes and gives a wide variety of people in our organization real-time visibility into key financial metrics from anywhere."

"The efficiencies we've achieved by moving to Intacct have been better than we could have imagined and are extremely valuable to our organization. If we didn't have Intacct, we would have needed at least another half-time resource at around $15,000 per year – not an insignificant cost for a nonprofit like us."

"The dimensions in Intacct have been a huge timesaver. We can easily track and report on all financial metrics, not just for our operating fund, but by each of our half-dozen restricted funds and individual grants. This is so much easier and more accurate than managing separate spreadsheets and will be critical for us as we expand."

Additional Resources:

Visit the Intacct website
Learn more about how Intacct helps nonprofit organizations
Follow Intacct on social media: Facebook, Google+, LinkedIn, Twitter, and YouTube
Follow the Intacct blog

About Intacct

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.

Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765. Connect with Intacct on LinkedIn, Facebook, Twitter, Google+, and YouTube.

Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned herein may be trademarks of their respective owners.

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