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Case Studies: MBS Non-Profit Client

  

As a growing non-profit organization, the client felt they were in danger of outgrowing their existing accounting firm, internal bookkeeper and overall finance platform. They were also concerned about the scalability of their financial processes. Their year-end tax information was usually delivered right before the filing deadline and often contained surprising data due to the lack of clean financial information and visibility into their overall finance function.

They realized that in order to successfully launch a new non-profit, in addition to managing their current operations, they needed access to real-time data. Because they were growing and expanding during an economic low point, they were particularly concerned about the risks associated with sustaining their organization and needed confidence in their financials.

Project

After building a relationship with the clients management team, we suggested a Client Assessment that would focus on evaluating their back-office functions. Our team proposed that the Client Assessment methodology could help identify more streamlined and automated financial reporting solutions.

The Client Assessment began with a quick-hit discovery evaluation of their current accounting processes and systems, as well as the financial reporting needs of the executive director and board of directors in order to manage daily operations and cash flow. After reviewing the data collected during the discovery phase, our team presented several different options and various recommendations that would allow the company to scale their processes and better support their growing operations.

One key recommendation was migrating their finance and back-office functions to our business process outsourcing platform. We worked closely with the client to determine the back-office needs that could be outsourced to the financial experts on our team. Because our platform is based on a Software-as-a-Service (SaaS) ecosystem, all systems are integrated on one platform.

As a result, our automated bill pay solution, allows the client to process bills electronically, and eliminates the need to re-key invoices. Invoices can be scanned into an electronic format, streamlining the accounts payable process. Bills can be approved by leadership from any location— whether they are on-site or in the main office. It also eliminates a large amount of unnecessary paper. Now our software ports information directly into their accounting system, eliminating the need to manually process payables.

Intacct, an SaaS based ERP system, allows for leadership to have real-time access to financial information. The entire solution, based on the Intacct platform, facilitates a much cleaner, efficient tax planning and preparation process. This is critical for the growing company, as it is easier to make effective business decisions. The new system provides management with detailed information about each programs operation and helps them determine a strategy for continued improvement.

Outcomes

In the time following the Client Assessment, the client, with more robust, accessible and credible financial information, the company has been able to continue their growth in a time when many businesses are scaling back operations. The assessment and subsequent engagement have provided additional functionality between their operations, as well as critical guidance and advance notice on accruing tax obligations. The company now has full confidence in the financial state of their business.

Our team has significantly enhanced the way that the client leverages technology. There are many firms that can help with back-office functions, but by delivering a technology-driven solution that integrates applications across all business functions, MBS Accountancy has helped the client save time and money while positioning the company for future growth. Other results of the engagement included:

  • Approving and paying bills remotely through a cloudbased application
  • Alleviating breakdowns and bottlenecks to critical business processes
  • Enhancing budgeting and planning capabilities
  • Producing reliable real-time financial information
  • Accessing better data to plan and project from a tax liability perspective
  • Allowing leadership to focus on their core business instead of back-office functions
  • Scaling of back-office resources as growth dictates
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