Finance software helps charity to maintain year-on-year growth
22 February 2016 – Street League, a charity that helps young people facing socio-economic barriers find employment through the power of sport, has implemented financial management software from Advanced Exchequer (Advanced) to efficiently process over 400,000 transactions annually and maintain its rapid growth levels.
The Exchequer solution is enabling the charity to achieve annual cost savings of up to £18,000 by avoiding the need for further recruitment and maximising the productivity of its lean finance team. Moreover, replacing its previous system has enabled Street League to enhance reporting and reduce its monthly management accounts process by one week.
Street League has grown at 30-40% year-on-year for the past five years, expanding from three regional teams in 2010 to 13 in 2015 and now have 32 academy teams in place across those regions. Turnover has also increased from £1.8m to £5.3m during the same period. The charity employs 120 staff throughout England and Scotland, targeting urban areas of cities with high rates of deprivation and youth unemployment. In the last financial year alone, Street League worked with over 2000 16-24 year-olds and will achieve over 1500 positive outcomes (work, training, education) during 2015/16.
Lesley Caron, Finance Director at Street League, said: “Our previous system was creaking under the strain of having to cope with a huge increase in transaction volumes. We therefore needed to put the right accounting software in place to enable our small finance team of three to continue to produce accurate and timely information.”
“Advanced’s solution best met our requirements and has enabled us to undergo a complete finance transformation, providing us with powerful analysis in the format that we need it.”
Exchequer was implemented in time for the start of the 2015/2016 financial year after the charity moved its headquarters from London to Manchester. Previously it took the finance team over half a day to manually upload complex payroll data; now they can upload the file into a bespoke journal which is then imported into Exchequer, taking less than an hour. Exchequer has also significantly reduced the amount of time it takes to complete the monthly management accounts process.
Furthermore, the software provides Street League with enhanced reporting capabilities, allowing them to produce detailed reports for each of the 13 regions which can in turn be broken down to team level. Operations managers can then access insightful data about how their region is performing and how their income is being used.
Caron comments, “The greater reporting functionality gives our regional operations managers the autonomy to understand and control their spending and financial performance, whilst providing us with more in-depth reports that we can use to make more informed and targeted decisions regarding funding.
“Moreover, the time savings that we have achieved with Exchequer will enable the charity to continue to grow without us having to incur costs from hiring additional finance staff, which enables us to help even more young people to develop the skills that they need to progress in life.”
Street League was the 2015 winner of the ‘Outstanding Team of the Year’ category in Advanced’s customer awards, the Advanced Halo Awards.
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Notes to Editors
About Advanced Exchequer
Advanced Exchequer’s multi-award-winning, fully integrated accounting and business software helps organisations improve the way they manage and operate their business, delivering significant time and cost savings by automating everyday tasks.
Flexible and easy to use, with powerful functionality built-in throughout, Exchequer supports all aspects of an organisation providing unrivalled analysis, exceptional management reporting and productivity enhancing tools. Exchequer improves customers’ productivity by 47%.
Award successes include ‘Financial Software Provider of the Year’ in the Real Finance/CBI FDs’ Excellence Awards, winning more times than any other software provider and 100% user recommendation by Charity Finance for three years running.
Exchequer is part of Advanced Computer Software Group Limited, a leading supplier of software and IT services to the health, care and business services sectors and is the 3rd largest provider of software and services to the UK market. In 2014, the Group won Tech Company of the Year in PwC’s UK Tech Awards. Advanced was also ranked in the Deloitte UK Fast 50, which recognises the 50 fastest growing technology companies in the UK and ranked in the top 300 technology companies in Deloitte’s EMEA ranking.
Angela Mycock and Joseph Rutter, Advanced Computer Software Group
E: firstname.lastname@example.org T: 01625 856513
About Street League
Our vision is to help bring an end to structural youth unemployment in the UK; with over 600,000 young people out of work, youth unemployment is the single biggest threat to the future prosperity of our country. Street League is one of the most exciting, dynamic and fastest-growing charities in the UK. We specialise in delivering combined sport and employability programmes across the UK to support unemployed young people, aged 16-24, who face socio-economic barriers to sustained employment, education and training.
Street League engages with these young people in a structured football and education 'Academy' programme, with two hours in the classroom and two hours on the pitch each day. This intensive 10-week programme develops vital employability skills such as communication, teamwork and goal-setting as well as nationally-recognised qualifications.
Street Step, a new social enterprise that’s part of the Street League family and was launched in 2015, uses dance fitness to attract a higher number of young women and tackle youth unemployment on a larger scale. Up and running in Birmingham, Glasgow and London, Street Step’s employability programme is already proving to be a success and looking to expand further in 2016.
At Street League and Street Step we're incredibly proud of our proven impact – more than 70% of Street League graduates move into work and training which equalled over 1,000 young people in 2015.
“I'm pleased to be a part of something so positive, which is really helping young people get jobs. I grew up in a similar situation to some of these young people. Yes, they are disadvantaged, but at the same time they can achieve something. They just need the confidence and support to actually go and achieve it." Daniel Sturridge, Liverpool and England Footballer.
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