Empowering Central Scholarship for Success: Nonprofit Reporting and Analytics
Overview
Through a partnership with Lescault & Walderman, Central Scholarship gains the insight they need to improve board confidence and make long term decisions.
Before Lescault & Walderman, Central Scholarship’s accounting system consistently made it more difficult to make decisions; inaccurate reporting, manual errors, and lack of relevant information for key decision-makers. Lescault & Walderman, a renowned Sage Intacct Accounting Partner (SIAP), joined forces with Central Scholarship to find a solution.
Lescault & Walderman created and deployed a customized Sage Intacct software solution. The result was automated data entry, detailed financial reports, and long-term forecasting models. With the prompt delivery of financial data, Central Scholarship cultivated lasting trust with its board members and projects positive financial health in the future.
Challenge
Central Scholarship faced a critical challenge in obtaining timely and accurate financial data.
Reporting to their board became frustrating as they struggled to provide the necessary information promptly, leading to delays and inefficiencies in decision-making.
The key challenges they encountered were:
- Timeliness and Accuracy: Central Scholarship struggled to obtain financial data in a timely and accurate manner. This hindered their ability to meet the board’s expectations and provide real-time insights for effective decision-making.
- Reporting Delays: Their existing financial reporting processes caused delays and inefficiencies, creating obstructions in the flow of information. This affected the organization’s agility and responsiveness in addressing financial concerns and planning for the future.
- Data Analysis: The lack of streamlined processes made it difficult for Central Scholarship to perform comprehensive data analysis. This limited their ability to gain meaningful insights and make informed financial decisions aligned with their mission.
Recognizing the urgency of these challenges, Central Scholarship partnered with Lescault & Walderman to implement a solution that would transform their financial reporting.
Solution
By leveraging Lescault & Walderman’s expertise, Central Scholarship – despite being a smaller organization – now has the detailed reporting capabilities they were seeking. With accurate and timely financial information, they can focus on their mission of helping young people access quality education.
We understood their unique needs and provided guidance on presenting financial information effectively. As Sage Intacct Accounting Partners (SIAP) and implementation experts, we collaborated closely with Central Scholarship to rectify errors in their system and optimize their financial reporting capabilities.
Results
See the tangible outcomes of our collaborative efforts and commitment to achieving excellence for our clients.
Timely and Accurate Data
Central Scholarship now receives their reports on time, ensuring they can meet board expectations and make informed decisions based on accurate financial data.
Enhanced Board Confidence
By consistently delivering reliable financial information, Central Scholarship regained the respect and trust of their board members, strengthening their relationship and enabling more productive discussions.
Reliable Partnership
Central Scholarship found in Lescault & Walderman a dedicated team that cares about their success. With Lescault & Walderman’s support, they have been able to meet every board member’s request promptly, gaining confidence in their ability to deliver.
“I’m getting my reports on time. And because I’m receiving this information on time, I’m gaining the respect of my board.
I’m working with a team that cares. Having representatives that stood behind their work, it was the icing on the cake.”
Tierra A. Dorsey
Central Scholarship President
