Nonprofits set out to change lives, so their financial management tools should fuel that mission. That’s why Goodwill Industries of Denver turned to Adaptive Planning. Moving away from Excel-based financial models transformed the organization’s financial processes, which involved 237 financial budgets and forecasts for individual programs and store locations. The cloud-based software made it easier for budget owners to manage and access financial performance, and insights from the bottom up led to a more enriched view of the organization.
- Difficulty in Excel rolling up 237 financial budgets and forecasts into a high-level, corporate view
- Needed a more granular view of the financial management process
- Budget owners only created a single, yearly budget
- Time-savings, data integrity, and widespread adoption elevated the finance team to a more strategic position
- Increased organization-wide collaboration and involvement in the FP&A process reduced administrative workload by 50%
- Monthly reporting provided clear insight into performance against plans and budgets by department