Open College Network London (OCN London), a registered charity and not-for-profit organisation, has replaced its existing Infor system with cloud management software from AccountsIQ.
OCN London was established in the 1970s and supports learning providers across the UK, registering over 40,000 learners each year. The organisation aims to deliver qualifications and training regardless of students’ educational background.
As OCN London grew, its small finance department found it difficult to work with the former on-premises finance system, which complicated remote working. The most significant difficulty was its complex requirements for invoicing, as learners often changed courses or added units.
The AccountsIQ system is now operational, and a new invoicing method has been implemented, running once a month for registrations created during the previous month. Each line on an invoice corresponds to a course run for which registrations were made in that month.
The invoicing system is integrated with the team’s Learning Management System (LMS), QuartzWeb, thus reducing the need for manual work. The invoicing platform has been made more efficient with templates that OCN London can tailor in the future, further lessening the manual effort required by the finance department.
OCN London has also integrated the new system with Microsoft Power BI, which allows the team to view current data, publish up-to-date financial figures, generate key performance indicator visuals for the board, and share information with more clarity across the organisation. The reduction in manual work has allowed the team to allocate more time to planning and financial strategy.
In the process of selecting a replacement for the legacy Infor system, OCN London considered various options including Sage, QuickBooks, and Xero.
Damien Devaney, Head of IT at OCN London, explained the decision to select AccountsIQ: “There didn’t seem to be anything between really basic and just wildly expensive. AccountsIQ just seemed to hit the sweet spot for a medium-sized enterprise like us.
“Setting up AccountsIQ was straightforward, and our onboarding specialist made the process very easy. There were no unexpected costs, and invoicing is now ten times easier than it used to be. From an IT point of view, I find I’m being asked to fix things less. Because it works, the team can focus on more strategic, forward-looking things like budgeting and forecasting. AccountsIQ actually costs us less than we used to pay for the licensing support and server costs – so we’re getting more for less.”
Darren Cran, CEO at AccountsIQ, concluded: “Through integration with its learner management system and provision of powerful reporting through Power BI, AccountsIQ is helping OCN London achieve greater efficiency and insight across the organisation, allowing its team to focus on driving real educational impact.”
The successful implementation demonstrates AccountsIQ’s capability to provide a flexible financial management solution with strong integration features for organisations with specific requirements.
Image source: LinkedIn
