Industry
Education
Challenge
Thayer Academy's finance team faced challenges in managing complex budgeting and forecasting tasks, with outdated systems that were both time-consuming and prone to errors. They needed a solution to enhance accuracy, speed up processes, and allow easier access and collaboration across departments.
Results
After implementing a streamlined budgeting platform, the academy saw substantial improvements. Decision-making speed doubled, annual savings reached $25,000, and the finance team experienced a 33% reduction in time spent on monthly budget compilations. With real-time data and advanced analytics, the team now makes well-informed decisions with greater efficiency, translating to clear operational and cost benefits for the academy.
We are very happy with Martus. We use the financial reports on a daily basis and trust them more than the reports that come out of our general ledger.
About Thayer Academy
Since 1877, Thayer Academy's coeducational day school has been an enabling and ennobling environment where each student is affirmed, supported, and challenged to take on responsibilities, ambitions, and achievements. Thayer continues to be a place where tradition and innovation meet and where students form lifelong relationships with one another and with inspiring teachers who care deeply about their students' personal growth and academic success.When Jackie Fellini, the Director of Finance at Thayer Academy, sought to refine the school's budgeting and forecasting methods, Martus Solutions emerged as a game-changer. The implementation of Martus's platform marked a new era in their financial management strategy, making cumbersome tasks seem like a breeze.
Jackie's team was no stranger to the trials of managing complex financial data. Before Martus stepped in, clunky systems were part of their everyday reality. But with features like real-time updates and highly accurate reports surpassing those pulled from their general ledger, operational efficiency saw a significant lift. These precise tools played an instrumental role in slashing error rates and saving valuable time—an outcome that truly impressed Jackie.
Results
One transformative benefit reported by Jackie is the tangible time savings—what took two days each month to compile monthly department budgets can now be rapidly accessed within Martus without any additional effort required from her team. This dramatic reduction in processing time directly translates into cost benefits for the academy.
The far-reaching organizational impact didn't stop there; with advanced analytics at her fingertips, Jackie has been able to guide Thayer Academy towards more informed decision-making based on reliable financial insights. From streamlining administrative burdens to enlightening cost-effective strategies—all roads led back to Martus's versatile solution.
In embracing Martus Solutions' innovative financial management tools, Thayer Academy has not only elevated its budget preparation and reporting standards but has also established itself as an educational institution firmly grounded in technological foresight—an embodiment of efficiency and strategic planning where finance meets innovation.
