14 April 2008 – Prospects for People with Learning Disabilities - a leading UK Christian organisation providing residential support and day services to people with learning disabilities – is implementing an OpenAccounts financial and reporting system from COA Solutions (formerly CedarOpenAccounts). The new OpenAccounts system will support the charity’s growth, improve financial reporting and enable its finance department to spend more time on value-adding activities. Prospects will go-live with the new system on 16 April 2008.
Prospects required a scalable financial management solution to replace its restrictive accounting system and to significantly reduce the time and money spent on invoice registration, reconciliation and authorisation. Following a competitive tender, Prospects chose COA Solutions’ OpenAccounts system due to its strength in reporting, advanced functionality and ability to closely meet all the charity’s business objectives. OpenAccounts was also the only system tailored to accounting with designated and restricted funds and COA Solutions demonstrated a clear understanding of the not-for-profit sector.
Helen Preece, Finance Director of Prospects, comments, “Our previous financial system was restrictive when we needed to extract financial information for reporting purposes. Carrying out basic day-to-day accounting processes also proved to be more and more time consuming as we continued to grow. COA Solutions has an excellent reputation within the not-for-profit sector and is the only company to completely understand all of our needs as a charity and meet our requirements.”
COA Solutions’ OpenAccounts software is a fully integrated suite of financial accounting modules that enable users to improve productivity in the finance department. The OpenAccounts software will allow Prospects to centralise financial operations at its head office in Reading, which services over 60 service centres in England, Northern Ireland and Wales. This new system will significantly improve efficiency and improve the type and amount of information available, helping to improve the charity’s performance whilst ensuring greater financial control.
Preece adds, “COA Solutions’ OpenAccounts system will save time and boost our efficiency by allowing the finance department to concentrate on value-adding activities. The new system will also bring us significant cost savings as by cutting manual processing, we won’t have to employ any additional accounts staff to support the charity going forward.”
About COA Solutions Ltd www.coasolutions.com
COA Solutions (formerly CedarOpenAccounts) is the UK’s leading supplier of integrated business management and information systems to public, private and not-for-profit organisations in the service sector. COA Solutions prides itself on getting close to its customers by understanding their businesses and responding to their business needs.
COA Solutions’ award-winning Smart Business Suite combines core financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions. These solutions extend the value and effectiveness of the finance, HR and payroll departments across the organisation and enable managers in the business to monitor, analyse and continually improve corporate performance.
COA Solutions has more than 450 experienced and professional staff supporting and servicing over 3,000 clients across the UK service sector including Companies House, Newcastle City Council, WHSmith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust.
About Prospects www.prospects.org.uk
Prospects is a Christian voluntary organisation which values and supports people with learning disabilities so that they live their lives to the full. Founded in 1976 by David and Madeleine Potter as "A Cause for Concern", Prospects has seen remarkable growth throughout the United Kingdom. Prospects’ policies and activities are based on the Principle of Personal Value and it operates within a distinctive Christian ethos.
Prospects works in partnership with local authorities, housing associations, trusts and local churches. It is committed to expressing Christian principles and values through high standards of professional practice, supporting and enabling adults with learning disabilities to live their lives to the full.
Liz Ebbrell, COA Solutions
+44 (0)1625 856505 or 07917 634 705
Ben Carey, COA Solutions
+44 (0)1625 856505
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