Strategic Budgeting Ensures Success of Community Support Programs for Wood’s Homes
Company Size
250-500
Region
- America
Country
- Canada
Product
- Budget Maestro
Tech Stack
- Microsoft Dynamics GP
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Healthcare & Hospitals
Services
- Training
About The Customer
Wood’s Homes is a multi-service, non-profit children’s mental health center based in Calgary. With over 450 staff and 100 volunteers, Wood’s Homes provide 35 programs and services for 20,000 children and their families each year in Calgary, Lethbridge, Canmore, Strathmore, Fort McMurray and Fort Smith, N.W.T. Founded as an orphanage in 1914 by Reverend George Wood, Wood’s Homes is today recognized across Canada for its innovative services, some of which were the first in Canada, and is widely recognized as a knowledge and training center in the field of children’s mental health.
The Challenge
Wood’s Homes, a multi-service, non-profit children’s mental health center based in Calgary, was facing a significant challenge in managing its financial operations. As a large organization with over 450 staff and 100 volunteers, it provides 35 programs and services for 20,000 children and their families each year. The Finance Manager, Pat Keppler, was responsible for more than 122 financial statements, across 35 programs, many backed by 5-6 different funders. The organization was using a traditional spreadsheet-based approach to budgeting and forecasting which lacked the capabilities necessary to effectively manage the large volume of data. With over 7,000 account codes and associated individual budgets, the organization needed a more strategic financial tool to manage effective growth and continue to support the needs of its community.
The Solution
Wood’s Homes turned to Budget Maestro from Centage to better manage the budgeting & forecasting process, and lay the foundation for long term success. After just four days of in-person training, Pat had a working budget model and was up to speed and confident in the solution and her ability to leverage the technology to simplify and streamline daily responsibilities. The solution allowed Pat to manage various budgets based on a number of parameters – % of manager time/salary, number of staff, amount of funding allocations of support costs to all departments, etc. By automating the budget process, Pat could easily report on the funders requirements and, with the click of a button, prove the program budget is being allocated appropriately and/ or if there is a discrepancy or change needed, Pat could easily make that change which would cascade down and be reflected throughout the budget. The solution also allowed Pat to better manage balance sheets and cash flow fluctuations, something not possible with Excel, and develop accurate income forecasts.
Operational Impact
Quantitative Benefit
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