PRESS RELEASE
Charity to Cut Budgeting Process by One Month Each Year with COA Solutions System
8th March 2010 - The Treloar Trust, a leading charity which provides education, care and medical support to young people with physical disabilities, is implementing a budgeting and planning system from COA Solutions. This system, which will be tightly integrated into Treloar’s existing COA Solutions financial management system, will provide the charity with significant time-savings, increased financial transparency and tighter control over costs. The planned go live is March 2010.
Gail Pussard, Financial Director at The Treloar Trust, says, “We currently use spreadsheets for budgeting and forecasting but at least 70% of the data contains errors due to corrupted formulae. This means that we have to manually check the data across 75 different cost centres, which is extremely time-consuming.”
The Treloar Trust evaluated a number of software providers. COA Solutions’ budgeting and planning system was selected due to its ease-of-use and ability to tightly integrate into COA Solutions’ finance system. As it operates in real-time and provides budget holders with accurate, incorruptible information, this also influenced Treloar’s decision to go with COA Solutions’ system.
COA Solutions’ budgeting and planning system enables the creation and real-time monitoring of financial plans, budgets and forecasts and as the data is held in a centralised database, this ensures only one version of the truth. With the system making it quick and easy to input and analyse financial information and produce reports, unwieldy spreadsheets are eliminated, significantly improving efficiency.
Pussard adds, “We will eradicate the time-consuming production and consolidation of spreadsheets and eliminate data errors whilst shortening our budgeting process by up to a month each year. Budget holders will also be provided with an accurate and real-time view of their budgets, delivering greater financial transparency and control whilst reducing the risk of overspending.”