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Founded by Andrew Colin and a group of close colleagues, INTO University Partnerships Limited(INTO) is a global education partnering organization headquartered in Brighton, United Kingdom. They form long-term joint ventures with globally ranked, ambitious universities in the United States, United Kingdom and Asia. Working with their partners, each year INTO transforms the lives of thousands of students by delivering remarkable academic and cultural experiences. These partnerships enable universities to achieve their internationalization ambitions and deliver sector-leading performance, exceptional student outcomes and remarkable student experiences.

Products in Use: FinancialForce AccountingFinancialForce Billing;  FinancialForce Revenue Recognition

Company size: Large

Previous system: Legacy

Location: Brighton, UK

Industry: Education

We can make faster decisions, and we can get a consolidated picture of the organization in ways which just weren’t possible before FinancialForce.

 
Shaun de Lacy, Assistant Director of Enterprise Systems

Business Issues

  • No central coordination for the financials of the business due to rapid growth and numerous partners that each had their own accounting system and processes
  • Most of the accounting systems lacked integration with Salesforce CRM, the system of record for INTO which managed the processing of thousands of student applications from all over the world
  • Too much time and resources were focused on pulling together disparate information from multiple places to provide a global view from which to make business decisions
  • Staff at university drop-in centers were unable to help with student queries on site as they couldn’t access their data in the system
  • Fragmented infrastructure meant each department prioritized different areas of the business causing anomalies in data
  • Complicated revenue recognition processes were carried out using spreadsheets which was complex and difficult, confusing, error-prone and not ‘audit friendly’

By adopting a single, cloud solution, we’re able to eliminate the costs and risks of synchronizing data across different systems and platforms.

Shaun de Lacy, Assistant Director of Enterprise Systems

Benefits & Results

  • Adopted a Single cloud accounting solution integrated with Salesforce CRM which now provides an instant, global view of the business financials. Financial decisions are made faster and smarter
  • Time is not wasted gathering data from multiple accounting systems
  • Real-time information and reporting is achieved with a few point and clicks. Drop-in center staff now have access to student data to better answer students’ financial questions and resolve problems on the spot, e.g. they can review an invoice straight through to the student’s application from anywhere
  • Time and money saved now that the university no longer has to manage IT infrastructures at each university site
  • Team no longer managing numerous charts of accounts - now managing just one which has streamlined consolidation and eliminated the uncertainty in interpretation of data at local sites
  • Rolling out new partnerships is significantly easier by having one central system in place
  • New revenue recognition process bypasses spreadsheets and feeds straight into invoice data
  • Financial group is now empowered with the tools to better understand and analyze data, instead of wasting time gathering data