Nonprofit organizations have long been moving away from their manual, labor-intensive processes toward new, efficient automated systems. The COVID-19 pandemic has only underscored the need for reliable and streamlined systems as nonprofits have been working from home and financials dipped in the wrong direction.
While outsourcing and automation are not new concepts, they are trends that are growing more relevant as of late.
When Joe Girardi, CFO of St. Andrew’s Resources for Seniors System in St. Louis, took the reins a year and a half ago, he wasn’t surprised to find a finance department in need of transformation. “Many established not-for-profits have struggled to innovate,” he explains. “We had to get away from manual data entry in multiple systems and slow reporting.”
“We needed to collapse the monthly accounting close, ensure reliability of data, develop a solid treasury function, and employ a more robust risk management process,” Girardi says. St. Andrews engaged with UHY’s Client Accounting Advisory Services (‘CAAS”) to outsource its accounts payable function, modernize its financial statement production, and optimize its cloud-based accounting software.
“Our software implementation was incomplete and lacked full integration with other applications, so we’re re-engineering it with implementation specialists who are helping us utilize the enhanced controls, integrate our systems and maximize our investment,” says Girardi.
The St. Andrews transformation project has been built in three phases, which Girardi expects to be achieved in early 2021. “I’m thrilled to see this through as I will soon be able to professionally elevate and begin providing strategic guidance on the larger business issues.”
St. Andrew’s Resources for Seniors System, in business 60 years, faith-based not-for-profit senior living organization. Hired UHY to develop and implement a complete transformation of the organization’s outdated on-premise finance organization. Software of choice: Sage Intacct. Evaluating an AP workflow solution.