{"id":13837,"date":"2023-01-04T15:20:00","date_gmt":"2023-01-04T20:20:00","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=13837"},"modified":"2026-02-12T04:24:11","modified_gmt":"2026-02-12T09:24:11","slug":"collegesource-creates-1-5-million-in-operational-cash-flow-with-sage-intacct","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/collegesource-creates-1-5-million-in-operational-cash-flow-with-sage-intacct\/","title":{"rendered":"Collegesource creates $1.5 million in operational cash flow with Sage Intacct"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tCollegesource creates $1.5 million in operational cash flow with Sage Intacct\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2023-01-04T15:20:00-05:00\">January 4, 2023<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Collegesource creates $1.5 million in operational cash flow with Sage Intacct\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-us\/blog\/collegesource-creates-1-5-million-in-operational-cash-flow-with-sage-intacct\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-us\/blog\/author\/david-appel\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/07\/David-Appel-headshot-2023-1.jpg\" class=\"entry-author__image\" alt=\"David headshot\" \/>\t\t\t\t<span class=\"entry-author__name\">David Appel<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p>CollegeSource, which delivers tech solutions for higher education, is realizing impressive gains in efficiency and visibility by modernizing its finance tech stack.&nbsp;It\u2019s a big turnaround from the days when CollegeSource managed financials on two separate on-premises QuickBooks instances \u2013&nbsp;each from a merger of two companies, CollegeSource and redLantern.<\/p>\n\n\n\n<p>Sage Intacct provides a unified cloud platform for financial management across CollegeSource headquarters in San Diego and an office in Cincinnati, home of the former redLantern.<\/p>\n\n\n\n<p>\u201cI think the biggest success for us is being able to work as one unified company,\u201d says Nikki Hiciu, director of finance and administration. &#8220;It&#8217;s not us and them anymore, it\u2019s CollegeSource. Everyone has access to the same data on one set of books in the cloud.\u201d<\/p>\n\n\n\n<p>CollegeSource, which provides solutions for degree audit, academic planning, and credit transfers used by 2,000 colleges and universities, has achieved remarkable results with Sage Intacct, integrated with a Salesforce CRM application:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Reduced monthly close time 73%, from 14 to four days<\/li>\n\n\n\n<li>Scaled to a 100% increase in invoices without adding headcount<\/li>\n\n\n\n<li>By <a href=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/intacct\/product-capabilities\/platform\/salesforce-integration\/\n\" rel=\"noopener\">integrating with Salesforce.com<\/a>, gained the ability to auto-renew more than 2,000 customer contracts<\/li>\n\n\n\n<li>Cut days sales outstanding (DSO) by 30 days<\/li>\n\n\n\n<li>Accelerated $1.5 million in cash flow to reinvest in business growth<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-a-better-fit-than-oracle-netsuite\">\u2018A Better Fit\u2019 than Oracle NetSuite<\/h3>\n\n\n\n<p>CollegeSource made its move to Sage Intacct after trying FinancialForce, with mixed results. It <a href=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/intacct\/switch-to-sage\/netsuite-alternative\/\n\" rel=\"noopener\">evaluated Oracle NetSuite<\/a> before determining that Sage Intacct offered a better solution.<\/p>\n\n\n\n<p>\u201cSage Intacct just seemed like a better fit for us than NetSuite, especially with the Contracts module and revenue recognition capabilities,\u201d Hiciu says. \u201cSage Intacct worked with Salesforce, and provided an easier way to do what we were trying to do.\u201d<\/p>\n\n\n\n<p>Implementation by Armanino LLP, a top Sage Intacct partner, got CollegeSource on the fast track to success.<\/p>\n\n\n\n<p>\u201cThe Armanino team did an excellent job explaining everything we needed to export and import, and setting everything up the way we wanted to see it,\u201d Hiciu says.<\/p>\n\n\n\n<p>The move to Sage Intacct was ideally timed, as Covid-19 shutdowns started shortly after CollegeSource went live on March 1, 2020.<\/p>\n\n\n\n<p>\u201cIt was such a blessing to be online in the cloud instead of having to VPN into QuickBooks,\u201d Hiciu says. &#8220;It would have been possible, but it was very slow.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-saving-time-and-improving-forecasting\">Saving Time and Improving Forecasting<\/h3>\n\n\n\n<p>With Sage Intacct, CollegeSource is<a href=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/intacct\/product-capabilities\/extended-capabilities\/subscription-billing\/\n\" rel=\"noopener\"> saving time with contracts<\/a> that auto-renew without requiring manual data updates.<\/p>\n\n\n\n<p>\u201cContracts renewing themselves is really helpful because we were recording all the increases manually,\u201d Hiciu says. \u201cWe had to go into Salesforce and change the price on each of them, and we have thousands. Sage Intacct handles it much better.\u201d<\/p>\n\n\n\n<p>Now, the company can easily generate financial reports by locations, products, and other dimensions, and it has new visibility into its budget versus actuals to support forecasting.<\/p>\n\n\n\n<p>\u201cBeing able to see the renewals and the income in the pipeline, we never had that before,\u201d Hiciu says. &#8220;We&#8217;re able to anticipate next year\u2019s business and beyond based on those insights.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-better-customer-experiences-and-work-life-balance\">Better Customer Experiences and Work\/Life Balance<\/h3>\n\n\n\n<p>The move to cloud-based financial management is the latest in a long history of innovation and modernization at CollegeSource. Its roots date to 1971, when the company\u2019s founder and president, Harry G. Cooper, founded the National Microfilm Library to create a microfiche collection of U.S. college catalogs.<\/p>\n\n\n\n<p>Moving from microfiche to CD-ROM to relational database and cloud technology over the years, CollegeSource has continuously reinvented its methods to remain a critical resource for institutions of higher education worldwide.<\/p>\n\n\n\n<p>By modernizing from what were two on-premises accounting systems to a unified Sage Intacct platform, CollegeSource is also improving customer experiences and work\/life balance for its small accounting team.<\/p>\n\n\n\n<p>\u201cOur two offices have one process. California can invoice for Ohio, and vice versa,\u201d Hiciu says. \u201cA customer with an inquiry can call either office and get an answer, so it\u2019s improving customer experiences. And we can take vacations now.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-learn-more\">Learn More<\/h3>\n\n\n\n<p>CollegeSource is one of a growing number of software and services companies to adopt Sage Intacct, making us the #1 solution of choice for software companies outgrowing QuickBooks or migrating from a legacy system, according to <a href=\"https:\/\/www.thesaascfo.com\/surveys\/finance-accounting-tech-stack-survey\/\" target=\"_blank\" rel=\"noopener\">studies by The SaaS CFO<\/a>.<\/p>\n\n\n\n<p><a href=\"http:\/\/www.sageintacct.com\/easyclimb\">Find out what Sage Intacct can offer your company<\/a> packed with resources on topics such as reporting, revenue recognition, subscription billing, SaaS metrics, and more.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Take a coffee break with Sage<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p class=\"\">Interactive Demo<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/intacct\/coffee-break-demo\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-14172\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Learn more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/02\/character-illustration_support-training_coffee-break-demo_b-1440x810.png\" class=\"single-cta__image\" alt=\"animated-person-sitting-on-giant-coffee-cup\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/02\/character-illustration_support-training_coffee-break-demo_b-1440x810.png 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to our Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-ab515c6e-7e90-4c2f-a67e-113872516e8b\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working from home with tea in hand\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CollegeSource, which delivers tech solutions for higher education, is realizing impressive gains in efficiency and visibility by modernizing its finance tech stack.&nbsp;It\u2019s a big turnaround from the days when CollegeSource managed financials on two separate on-premises QuickBooks instances \u2013&nbsp;each from a merger of two companies, CollegeSource and redLantern. Sage Intacct provides a unified cloud platform [&hellip;]<\/p>\n","protected":false},"author":1433,"featured_media":9204,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"footnotes":""},"categories":[158,46,43],"tags":[2,110,299,420],"business_type":[40,312,41],"lilypad":[],"context":[418,449],"industry":[57,450,59],"persona":[150,96,97],"imagine_tag":[209,234,436,439],"coauthors":[599],"class_list":["post-13837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountants","category-growth-customers","category-money-matters","tag-accountants","tag-accounting-101","tag-cash-flow","tag-cloud-financial-management","business_type-small-business","business_type-accountants","business_type-growing-business","industry-financial-services","industry-software-saas","industry-travel-hospitality"],"sage_meta":{"region":"en-us","author_name":"David Appel","featured_image":"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-939019528.jpg","imagine_tags":{"209":"Accounting","234":"Enterprise Management","436":"Intacct Accounting","439":"Intacct Enterprise Management"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice US","distributor_original_site_url":"https:\/\/www.sage.com\/en-us\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/13837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/users\/1433"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/comments?post=13837"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/13837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media\/9204"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media?parent=13837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/categories?post=13837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/tags?post=13837"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/business_type?post=13837"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/lilypad?post=13837"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/context?post=13837"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/industry?post=13837"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/persona?post=13837"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/imagine_tag?post=13837"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/coauthors?post=13837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}