Statistics show that one in four children living in low-income countries is unable to read. Understanding how to overcome these challenges is a top priority for Room to Read, a non-profit organization created in 2000. One of the group’s main goals is to reach a minimum of 40 million children in less than five years. They hope to make a significant impact on the lives of children in low-income areas by focusing on improving literacy and gender equality. With hopes to reach children in other countries, Room to Read found a cloud technology solution to help them meet their goals.
Business Challenge – Improving Literacy and Gender Equality in Low-Income Countries
To increase their outreach to children in other countries, Room to Read needed to invest in new technology and restructure its internal teams further. The organization worked with Armanino LLP to implement Sage Intacct, a cloud-based financial system which replaces Microsoft Excel spreadsheets. Meanwhile, they would also be using Workday Adaptive Planning as an analytics solution. Choosing to modernize their technology stack laid the foundation for making significant changes to its accounting team.
Room to Read felt the impact of the pandemic in early 2020 due to it being a global organization. For example, they were forced to cancel 20th-anniversary galas across the world. Canceling these events significantly impacted the bottom line, as these events were designed to be major fundraisers.
By with this new system, the organization gained control and visibility during the transition process to a modern organizational structure. It helped them respond quickly to the COVID-19 pandemic. They could investigate the right technology for them. They were also able to put the best staff members in place.
Software Solution – Workday Adaptive Planning
Due to the pandemic, team members immediately began to work on a solution to forecast the revenue and expenses for 2020. Workday Adaptive Planning made it possible for Room to Read to quickly create a new budget. They were able to cut back on expenses to limit risks for the second half of last year. The organization did another round of modifying its budget. They did this to decrease costs further and maintain financial stability.
The Results of Implementing Cloud Technology
By creating a new budget, Room to Read was able to redesign its existing programs. In redesigning, they could fit their programs to their new cost structure. At the same time, they could find other ways to provide educational resources and additional support to children during the pandemic.
For example, the organization created a new initiative to work with local radio stations. This initiative enabled them to broadcast various literacy activities in locations where schools were closed. This was particularly for students in countries like Tanzania, India, Nepal, Sri Lanka, Rwanda, and South Africa.
With Adaptive Planning and cloud technology implementation, according to their Associate Director of Finance, the organization could analyze its plans and test any assumptions to improve efficiency. Access to cloud technology provided much-needed support. It was a lot easier to adapt to the pandemic rather than using Excel spreadsheets. The organization spent nearly two and a half years building this technology and its process. This helped the entire process run smoothly.
A Look Towards the Future
Now, the finance team at Room to Read is planning other projects to automate and streamline global processes. The organization is also focused on other initiatives to help plan for the future. Room to Read remains committed to helping educate children in low-income communities while overcoming the various challenges of COVID-19.
