Epilepsy Action, a UK, member-led epilepsy charity, has selected AccountsIQ, an accountancy SaaS provider, to improve management reporting and enable access to real-time data for better decision-making and resource allocation.
Alongside the commitment to supporting a better life for everyone affected by epilepsy, the national charity contends with complex financial management challenges, including multiple sources of income, stringent controls over spending and restricted fund requirements. With the added challenge of the cost-of-living crisis and an increasingly difficult fundraising environment, Epilepsy Action needed complete visibility of income and expenditure to continue supporting the estimated 633,000 people living with Epilepsy in the UK.
To unlock that visibility, the charity has chosen to partner with AccountsIQ who are already trusted by over 100 non-profit organisations worldwide, many of whose operations span multiple global legal entities.
“We need to be absolutely on top of our financial position. We need complete visibility of what income and expenditure we have coming down the line to make the best decisions for the people who rely on our services,” said Tony Spinks, Director of Corporate Services with Epilepsy Action.
The non-profit organisation had previously relied on Sage50 Accounts software, however, as the charity outgrew its start-up status and expanded to 70 staff, it needed a mid-market cloud accounting solution, like the one from AccountsIQ, to cater to the specific needs of the charity sector and deliver a much more granular level of reporting.
Utilising business intelligence and market-leading reach, AccountsIQ charity software has unlocked end-to-end visibility into all of Epilepsy Action’s financial data, from donors, trustees and management, to operations, trading entities and regulators, offering a superior, up-to-the-minute reporting experience with extended analytical dimensions. The AIQ software has been proven to meet the most complex accounting and consolidation requirements for the sector, enabling charity finance managers to automate and streamline workflows for modern, transparent reporting.
“AccountsIQ is easy to use. Automating processes is already saving us a huge chunk of time but there’s lots more time saving to come. It’s this combination of time saving and financial visibility that will allow us to do more data analysis and really add value to our organisation. Everything we wanted is starting to happen,” added Spinks.
Ever since implementing AccountsIQ software, the Epilepsy Action team has noticed significant time saving, particularly around the purchasing processes which used to be very manual. The charity benefits from all the transactional processes running smoothly and is looking further at where it can make even more efficiency gains.
Tony Connolly, CEO at AccountsIQ commented: “Charities typically have more complex accounting needs, which means they often struggle to find key functionalities and real-time, multi-dimensional consolidated reporting software without compromising on the cost-saving aspect. We’re delighted to have ticked all the boxes for Epilepsy Action and taken the pressure off their finance team, and look forward to continuing to build upon our partnership.”