NetSuite Helps March of Dimes Support Its Mission to Improve Health of Moms and Babies

Rhea-AI Summary

Oracle NetSuite announced that March of Dimes is leveraging its cloud-based ERP system to streamline financial processes and enhance operational efficiency. The nonprofit has reduced its monthly financial close from 14 to 5 days by utilizing NetSuite's integrated business system. This improvement enables March of Dimes to allocate resources more effectively, driving a more significant impact on its mission to improve the health of mothers and babies. The transition to NetSuite has allowed for automation in payables and receivables, providing real-time financial insights critical for strategic decision-making.

Positive

• March of Dimes reduced financial close time from 14 to 5 days.
• NetSuite's ERP system automates financial processes, leading to improved efficiency.
• Real-time data insights enhance decision-making capabilities.

Negative

• None.

Streamlined processes ensure time and resources are focused on the most impactful programs and services

LAS VEGAS, Sept. 28, 2022 /PRNewswire/ -- SUITEWORLD 2022 -- Oracle NetSuite today announced that March of Dimes, a nonprofit leading the fight for the health of all moms and babies, is using NetSuite to help support its mission. In recent years, March of Dimes has been able to take advantage of an integrated business system to streamline its finance department, reallocate time and resources, and leverage data-driven insights. This has allowed the team to deliver more engaging programs and services.

Founded in 1938 to uncover the mysteries of polio and support Americans suffering from the disease, March of Dimes has evolved into an organization that is focused on improving the health of moms and babies through research, programs, education, and advocacy. As March of Dimes refocused its mission to support moms and babies, its finance department was spending too much time collecting, managing, and analyzing financial data across disconnected spreadsheets. To simplify processes, gain real-time insight into its data, and direct funds more efficiently, March of Dimes needed to upgrade to an enterprise resource planning (ERP) system. After careful evaluation of the organization's particular challenges and objectives, March of Dimes selected NetSuite for its ease of use, data analysis capabilities, and ability to automate its end-to-end financial processes. 

"During the past five years we've experienced incredible growth, but we didn't always have reliable data, which made it difficult to manage our cash. This ultimately impacted the efficiency of our entire organization," said Dave Damond, senior vice president and chief financial officer, March of Dimes. "We needed real-time insights into our financial data to help us allocate funds more wisely into major programs and initiatives and serve more people."

NetSuite has helped March of Dimes streamline and automate payables, receivables, and budgeting. NetSuite contributed to March of Dimes being able to shorten its monthly close from 14 to five days. NetSuite's ability to collect and integrate data in real time from multiple sources has provided March of Dimes with a central repository of financial data, which has been instrumental in helping the team make business-wide decisions. The data analysis capabilities in NetSuite have facilitated March of Dimes' decision-making by helping its financial team focus on planning and analysis rather than manual accounting transactions.

"Nonprofits need to strike a balance between investing in internal operations and funding external services that support communities," said Evan Goldberg, founder and EVP, Oracle NetSuite. "NetSuite has enabled March of Dimes to get the best of both worlds by helping it harness its financial data to drive business strategy. This has allowed March of Dimes to become more strategic in its most important area – the investments it makes in the communities it serves."

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About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation, and omnichannel commerce, used by more than 32,000 customers in 217 countries and dependent territories.

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SOURCE Oracle NetSuite

FAQ

How is Oracle NetSuite helping March of Dimes as of September 2022?

Oracle NetSuite is streamlining March of Dimes' financial processes, reducing their monthly financial close time from 14 to 5 days, and providing real-time data insights.

What financial improvements has March of Dimes achieved using NetSuite?

March of Dimes has automated its financial processes, which has significantly improved operational efficiency and data analysis.

What is the impact of NetSuite's ERP system on March of Dimes' mission?

NetSuite's ERP system allows March of Dimes to allocate resources more effectively, enhancing their ability to support mothers and babies.

When did March of Dimes start using Oracle NetSuite?

March of Dimes began using Oracle NetSuite as announced on September 28, 2022.

What features of NetSuite are beneficial for March of Dimes?

NetSuite offers integrated data management, automation of payables and receivables, and robust data analysis capabilities, which are crucial for March of Dimes' operations.