Sage delivers insights and trusted visibility to help Vitamin Angels secure $14 million in new restricted funding
17 Februar 2022 - 3:00PM
Sage (FTSE: SGE), the leader in accounting, financial, HR and
payroll technology for small and mid-sized businesses, today
announced that international public health organization Vitamin
Angels recently migrated to Sage Intacct for a robust, cloud-based
financial foundation. This helped the nonprofit improve accounts
payables efficiency by 60 percent, eliminate accounts receivables
data entry, and gain the visibility and insights required to
increase its restricted revenue by $14 million over three years.
Vitamin Angels is a public health nonprofit working to improve
nutrition worldwide. They partner with local organizations,
including governments, to reach the most underserved, nutritionally
vulnerable populations – pregnant women, infants, and young
children – with evidence-based nutrition interventions. To bring
its services to more women and children and minimize the
administrative burden associated with accepting restricted funds
that must be used for specific purposes, Vitamin Angels needed to
replace its manual, paper-based accounting processes with a more
advanced financial system.
“Sage Intacct met our needs and is a game changer for us. It has
completely improved our trajectory,” said Bonnie Forssell, CFO,
Vitamin Angels. “Because we are more efficient now with our use of
technology, we’re emboldened to seek new opportunities for growth
through restricted funding – despite the fact these donations and
grants come with more rigorous reporting requirements.”
After moving to Sage Intacct, the nonprofit streamlined its
multi-currency, multi-entity accounting processes and adopted
financial best practices. This has directly impacted its mission,
with Vitamin Angels gaining several key benefits, including:
- Increased restricted revenue by $14 million over three
years: Not only did Sage Intacct help the finance team
keep pace with the organization’s rapid growth, it built greater
confidence amongst major donors—opening up new avenues of long-term
funding. This supports more innovative and influential projects
that will ultimately impact the health of millions around the
world.
- Freed up costs, helping serve more women and
children: By analyzing shipping expenses with Sage
Intacct, the nonprofit found savings it could use to broaden its
reach. “Using custom dimensions in Sage Intacct to track costs, we
immediately identified $200,000 in logistical savings, which
enabled us to provide essential vitamins and minerals to an
additional 800,000 underserved children,” said Forssell.
- Improved accounts payable efficiency by 60
percent: Sage Intacct’s fully automated AP processes and
workflows remove friction and enable more self-service for
employees and budget managers. This reduces errors and ensures that
approved ACH payments get to vendors promptly, while eliminating
hands-on filing and check-signing tasks that would have been
problematic during pandemic lockdowns.
- Saved 10 hours per month in revenue data
entry: Integration between Sage Intacct and Salesforce CRM
also streamlined all the organization’s revenue transactions.
Forssell said, “Before, whenever we got a donation, we’d manually
enter it into Salesforce and again into QuickBooks. It was a very
tedious process with a lot of room for error. Now, it’s a
completely automated flow from our website to Salesforce to Sage
Intacct – saving us a day and a half of work.”
For more information about how Sage Intacct’s powerful
automation and visibility gave Vitamin Angels’ leaders the
confidence to significantly expand their mission, read the full
case study.
Media contact:Peter
Olsonpeter.olson@sage.com408-878-0951
About SageSage exists to knock down barriers so
everyone can thrive, starting with the millions of Small and
Mid-Sized Businesses served by us, our partners and accountants.
Customers trust our finance, HR and payroll software to make work
and money flow. By digitising business processes and relationships
with customers, suppliers, employees, banks and governments, our
digital network connects SMBs, removing friction and delivering
insights. Knocking down barriers also means we use our time,
technology and experience to tackle digital inequality, economic
inequality and the climate crisis. To learn more please visit
www.sage.com/en-us/ and www.sageintacct.com.
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