For nonprofit founders everywhere, running an organization focused on their heart’s calling may be one of the most gratifying things they can experience. But along the way, life’s hurdles could hinder their progress right as that endeavor starts to gain ground. Software company Sage is working to remove these barriers. With a new acquisition, the company is furthering its work helping nonprofits increase their donations.
Sage, a U.K.-based company with its U.S. headquarters in Atlanta, announced its acquisition of software from Maine-based MAS Integrated Solutions. Sage offers accounting, financial, HR and payroll solutions for small and mid-sized businesses (SMBs). With the addition of MAS’ Mateo cloud savings and loan software, the company is building out its Sage Intacct platform.
At its core, Sage Intacct is a cloud-based financial management system for SMBs that offers a general ledger and tools for accounts payable automation, grant tracking and billing, automated nonprofit revenue recognition, reporting and dashboards. The platform will be bolstered by the Mateo software, enabling Sage to better help nonprofit and faith-based organizations manage programs that involve a revolving loan fund.
“The nonprofit sector is one of the key vertical segments for Sage Intacct. Sage Intacct provides the core accounting functionality for businesses. In the nonprofit sector, it is particularly valuable in helping these organizations become more data-driven in their decision making,” Joan Benson, Sage’s senior director of nonprofit industry marketing, told Built In via email.
MAS Integrated Solutions is known for helping Roman Catholic diocesan organizations digitize their finances. Its Mateo solution automates workflows to manage savings, loans and investment pools for nonprofit organizations, according to Benson. Its integration into Sage Intacct will provide customers with a solution for diocesan asset management and quicker access to data to inform business decisions.
“From multi-campus churches and global mission trips to schools and seminaries, faith-based organizations and churches need strong financial management as they pursue their missions,” Benson said. “Faith-based ministries and organizations can have complex structures that need expanded flexibility and functionality to better manage and automate processes. As we move toward more digital transformation and usage of [AI] and machine learning technology, it becomes even more critical to integrate and sync all data and services in real-time.”
Sage Intacct provides organizations with real-time visibility into each aspect of their finances. Coupled with Mateo’s savings and loan functionality, the acquisition aims to help Sage Intacct better serve nonprofits. The software is already fully integrated with the Sage Intacct system, and the company will continue to build out the platform integration and provide support to Mateo’s customers.
“By automating processes and improving insights that faith-based nonprofits need around their savings and loan programs, we are knocking down the barriers to their growth and ensuring they can focus on the outcomes that further their missions,” Dan Miller, Sage’s EVP for Sage Intacct, said in a statement.
As the company continues to grow, Sage is currently hiring across dozens of Atlanta-based positions. Open roles span departments including customer operations, finance, marketing, digital and more.