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Charities Choose COA Solutions Software To Comply With SORP Reporting Regulations
COA Solutions (formerly CedarOpenAccounts) has signed two charity sector contracts, with Norwood and Nugent Care, for the provision of an integrated financial management system. Norwood is a leading UK children and family charity and Nugent Care is a major service provider and employer in the North West.
Both organisations have chosen to implement OpenAccounts6, a major new release within COA Solutions’ software platform for service sector organisations to ensure compliance with SORP reporting and connection of finance process across remote workers.
The integration of OpenAccounts6 is the first step in Norwood’s new IT strategy and will incorporate the charity’s accounting requirements alongside Norwood’s own corporate systems. OpenAccounts6 solution was selected due to its ease of use for financial and non-finance managers, its proven web-based capabilities and strong presence in the charity market place. Go–live for OpenAccounts6 and EDR Reporting systems is planned for March 2007.
Philip Bunt, director of finance at Norwood said, “COA Solutions is very strong in the charity sector and its depth of functionality and flexibility of use by both finance and non-finance users alike. Both the compliance with charity SORP reporting and the close integration with our corporate systems will ensure cost effective management of the charity’s resources.”
Nugent Care required a new financial management system to increase efficiency, improve reporting and ensure ease of access to information for authorised individuals across the organisation. The charity selected OpenAccounts6 due to its proven capabilities with other charity care providers and its ability to aid standardisation of processes at head office and its remote site establishments throughout the UK. Go-live is planned for April 2007.
Richard Woods, head of finance at Nugent Care said, “We chose the OpenAccounts solution because it is easy of use and will save on administrative costs by avoiding duplication of effort and the need for multiple systems across our organisation. Our finance administrators located at many remote establishments will benefit from easier access to information on a central system. COA Solutions team provided workshops on how the new system could be maximised to meet our specific requirements.”
About Norwood
Norwood is Anglo-Jewry’s leading children and family services charity based in Stanmore, Middlesex. Every year Norwood helps thousands of children and their families by providing vital, specialised care to the most vulnerable members of the community.
Formed in 1975, Norwood has evolved into the provider of a wide range of specialist services, delivered by over 1,100 staff and supported by around 700 volunteers. These services cover five main areas: residential homes, registered and supported accommodation, special education services, fostering and adoption services, children & family services. These services are delivered across locations in London and South East England such as Ravenswood Village, Crowthorne, Berkshire, which has three residential homes housing 22 children, and 17 registered homes for 146 adults and supported accommodation.
About Nugent Care
Nugent Care works extensively across Merseyside and the North West to support and improve the quality of life for children / young people, older / vulnerable adults and communities. Founded in 1881 to continue work done across Liverpool by Father James Nugent (1822–1905) to alleviate poverty and facilitate child welfare and social reform, Nugent Care today strives to address issues of social inclusion, welfare and justice across the North West. Its care homes, schools, volunteers and community teams provide support and care for hundreds of children and adults with a range of needs every week of the year. A service provider for statutory body-funded activities and projects, Nugent Care is also a charitable trust, relying on donations, legacies and other charitable gifts. http://www.nugentcare.org
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