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Breaking down global barriers with Mosaic
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Education
- Software
Applicable Functions
- Business Operation
Services
- System Integration
- Training
The Challenge
Forage, a global business with offices in the United States, UK, and Australia, faced challenges in consolidating their global financial insights. They had to maintain multiple versions of the accounting software Xero, creating two separate sets of books and records. Operating in different countries added complexity due to foreign currency conversions, forcing the finance team to spend lengthy cycles downloading, translating, and converting numbers into standard reporting packages. As the team performed deeper analysis into customer revenue, company spend, and profit margins, it became clear they needed a more automated and streamlined reporting structure to centralize their global financial data and accelerate P&L creation. The ultimate goal was to connect the dots between key financial datasets to obtain a more holistic view of their business quickly.
About The Customer
Forage is a company dedicated to tearing down the barriers between potential and opportunity, giving every student an equal chance of discovering and landing their dream job. They are at the forefront of democratizing access to information, education, and financial wellness. The team focuses on creating an even playing field for students to thrive while finding ways to keep their business efficient and in tune with growing demand in multiple markets. Forage operates globally with offices in the United States, UK, and Australia, and their reach and scale require sophisticated financial management tools to maintain efficiency and transparency.
The Solution
Forage leveraged Mosaic’s multi-subsidiary consolidation with built-in currency conversion and eliminations to connect two separate instances of their Xero ERP software. This allowed them to easily analyze global revenue and expenses in one place, automatically. The time savings enabled them to focus on strategizing for growth instead of hours of data collection, manipulation, and conversion. Additionally, Forage partnered with Mosaic’s Customer Success team to implement best practice reporting structures. This enabled the team to view P&L by departments and by subsidiary, saving hours of manual work and increasing visibility across the organization.
Operational Impact
Quantitative Benefit
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