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Feb. 17, 2022, 9:01 a.m. EST

Sage delivers insights and trusted visibility to help Vitamin Angels secure $14 million in new restricted funding

Sage Intacct cloud financial management system helps public health nonprofit lay the foundation to scale its mission

ATLANTA, Feb 17, 2022 (GLOBE NEWSWIRE via COMTEX) -- ATLANTA, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Sage /zigman2/quotes/204528931/delayed UK:SGE +0.59% , 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 Olson
peter.olson@sage.com
408-878-0951

About Sage
Sage 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 .

COMTEX_402587110/2471/2022-02-17T09:01:02

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/zigman2/quotes/204528931/delayed
UK : U.K.: London
745.80 p
+4.40 +0.59%
Volume: 234,393
Aug. 11, 2022 12:21p
P/E Ratio
27.01
Dividend Yield
2.40%
Market Cap
£7.40 billion
Rev. per Employee
£155,245
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