Many First Nations organizations we talk to are moving to a strategy based on outcome metrics that drive their organization toward greatness. The traditional focus of service delivery is changing to include significant business operations. Indigenous leaders must not only think about making a difference in their communities, but being competitive in business with the world.
With this shift, First Nations financial officers realize they need to consider financial management solutions and how they can simplify their processes. World class modern accounting solutions will automatically tag and track data by key dimensions to provide instant management visibility and insights. These systems can proactively manage business operations as well as community programs, members, funds, and events. If you don't have a good financial management accounting solution, how can you keep up with the complexity of your operations?
A recent case study with Seattle Indian Health Board (SIHB) states that, through the implementation of Sage Intacct (a cloud-based accounting and project management solution) "Finance team productivity has soared 50% and weeks of manual work have been eliminated".
The right system can provide access to statistical data automation to calculate key metrics such as financial (revenue), statistical (membership), or a combination (revenue per member). It can offer management access to individual business operations with full purchasing control. It can offer the visibility, automation, access, and adaptability needed to hep your organization grow and succeed. New business entities or community programs can be easily added, allowing you to focus on what's important -- the business operations or programs -- instead of tedious, time-consuming administration.
SIHB utilized Sage Intacct to:
- increase finance team productivity by 50%
- improve month end close from two months to three weeks
- increase scalability as grants rose from 30 to 85
- provide better decision making to 45 users through dashboards/reporting
The right First Nations financial software solution matters.
Sage Intacct is a best-in-class, top-rated financial management solution that can do it all with an integrated transparent system. Take a look and see if you also feel that this solution could help you move from good to great.
Read the Seattle Indian Health Board case study here.
Learn more here.