Nonprofit Social Enterprise Builds More Effective Budgeting Process with 9Gauge
AUSTIN, Texas, November 20, 2017 –In an ever-changing global economy, companies are challenged with an aging workforce, skilled talent shortages, and pressures to be diverse and inclusive. Millions of jobs go unfilled because businesses struggle to find qualified candidates. Yet, millions of young people are shut out of today’s workforce due to lack of relevant skills and work experience. How can we bridge this gap? Genesys Works offers a step towards closing it. For over 15 years, it has served as a nonprofit social enterprise that provides pathways to career success for high school students in underserved communities through skills training, meaningful work experiences and impactful relationships. Supporting aggressive year over year expansion requires enhanced financial expertise. The nonprofit turned to 9Gauge in support of optimizing its budgeting needs.
Hard to Excel: A Budgeting Problem
Reporting and budgeting for each of the six entities and a consolidated organization became a time-consuming challenge in recent years. “NetSuite alone could not solve our goals of real-time reporting and on-demand financial planning. Budgeting and reporting in Excel workbooks were not sustainable at our rapid growth rates.” said Genesys Works’ CFO, Amir Yunus.
In search of a single source of customizable, real-time reporting and planning, Yunus tapped experienced financial systems partner, 9Gauge to conduct a software search. Together they selected Adaptive Insights, the leading cloud corporate performance management (CPM) tool for businesses, to be the reporting, budgeting, and planning solution.
The 9Gauge Advantage
“9Gauge impressed me with their deep relationship with Adaptive Insights,” notes the Genesys Works’ CFO. “They tapped resources from Adaptive that other vendors could not.”
Through 9Gauge’s partnership, Genesys Works budgeting and planning process has become more fluid and user-friendly. Its leadership team can easily change assumptions that are shared throughout the organization with a click of a button. “In our current budget cycle, a substantive expense was higher than expected,” remarks Yunus.
“Prior to Adaptive, I’d go to six different people to change a cell in their Excel workbooks, but now, I change a single assumption in Adaptive. It cascades beautifully through every budget in the organization.”
Along with simplifying their planning, 9Gauge has helped the organization with:
- Data Integrity: By reducing the number of users editing data via workbooks, the Adaptive platform cuts down on manual calculation errors
- Budget visibility: Rather than working in silos, the organization’s finance teams can see what has been budgeted in real time
- Operational efficiency: The company now shares its budgeting data within Adaptive instead of communicating it via email
- Scenario Planning: Versioning within the platform allows users to build multiple scenarios instantly
Genesys Works Solutions: Where Tomorrow’s Workforce Begins
9Gauge continues its work with Genesys Works by streamlining financial processes within the nonprofit organization. By focusing the company’s finance organization squarely on growth, the organization is well-positioned to expand its reach. Genesys Works has grown from supporting 10 students in 2002 to a national organization serving over 3,000 annually in five metropolitan areas: Houston, Twin Cities, Chicago, the San Francisco Bay Area, and the National Capital Region. Client partners hiring their trained students include AT&T, Reliant Energy, Salesforce, and GE Oil and Gas.
For more information about Genesys Works, visit their website.