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 Insights. Moving away from Excel-based financial models that involved 237 financial budgets and forecasts for individual programs and store locations, the Adaptive Insights Business Planning Cloud enabled the nonprofit to transform their financial processes. The cloud-based business planning solution 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