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Learn why the University of Alabama uses Intacct: UAB Educational Foundation Streamlines Complex Fund Accounting with Intacct
For nearly fifty years, the University of Alabama at Birmingham’s (UAB) Educational Foundation has been enabling general operational flexibility for the university by administering discretionary support funds, acquiring real estate, managing vending contracts, and providing support for the development office.
The UAB Education Foundation:
- Wanted a flexible and full-featured financial management, accounting and purchasing system to streamline financial processes
- Needed to more effectively manage 50 different support funds
- Wanted a user-friendly solution that would automate manual processes and support data entry from anywhere
- Required flexible reporting and dashboard capabilities for greater visibility into financial data
The Foundation decided to streamline and automate this and other key financial process by switching to a modern, cloud-based accounting system.
- Cloud-based financial management solution provided anytime, anywhere access for 70+ users
- Modernized, streamlined purchasing processes cut invoice to- payment time in half, increasing vendor satisfaction
- Comprehensive automation saved 6 days each month in accounts payable time
- Gained ability to easily track, monitor, and report on 50 funds across the University
- Moved from only having an accurate financial picture once a year to continuous real-time budget visibility
“Our fund visibility has been drastically improved because of Intacct’s multi-entity, multi-dimensional architecture,” commented Mote. “With the many dimensions available within Intacct, we are able to easily keep track of each fund’s separate cash or accounts payable balance, or roll up all of our funds to look at the Foundation’s overall portfolio.”