ION, a leading provider of cloud-based financial management solutions, is delighted to announce its partnership with The Letta Trust, an ambitious Multi-Academy Trust (MAT) consisting of five schools with plans for continued growth.
The Letta Trust, known for its history of collaborative working between Bygrove and Stebon primary schools, sought a modern MAT-specific finance system to support their expansion and streamline operations. Previously using Sage 200, The Letta Trust faced several challenges that made their financial processes cumbersome and inefficient. As a relatively new Trust with ambitious plans for growth, Letta sought a more comprehensive system that would address the specific needs of Multi-Academy Trusts.
The primary issues with their existing system included the need to log in and out of different systems due to a consolidation database, and the time-consuming process of downloading individual nominal lists. Their current setup did not operate as a true MAT system, leading to significant manual effort in consolidation and reporting. The finance team spent numerous hours on reporting due to the lack of natural consolidation capabilities in Sage 200. Additionally, their Purchase to Pay (P2P) workflow relied heavily on paper-based requisitions, causing delays and inefficiencies.
The Letta Trust was also keen to adopt a system that would facilitate their alignment with the DfE Chart of Accounts and support their transition towards a GAG pooling approach, providing spend control and visibility at the requisition and budget holder stages.
After a thorough market review, The Letta Trust chose to partner with ION to implement Sage Intacct for Education, a leading-edge financial management solution designed specifically for the unique needs of educational institutions. Sage Intacct for Education will address the specific pain points faced by The Letta Trust by offering:
This strategic move will not only enhance the financial efficiency of The Letta Trust but also future-proof their operations, allowing them to focus on their core mission of providing excellent education and raising aspirations within their communities.
"We are thrilled to work with The Letta Trust to implement Sage Intacct for Education," said Rob Mathieson, CEO of ION. "Our solution is designed to meet the complex needs of Multi-Academy Trusts, and we are confident it will provide the flexibility, efficiency, and scalability The Letta Trust requires as they continue to grow."
As The Letta Trust embarks on this new partnership with ION, both organisations are committed to fostering a financial environment that supports growth and innovation. This collaboration marks a significant milestone in The Letta Trust's journey towards financial excellence and operational efficiency.
About The Letta Trust
The Letta Trust is a Multi-Academy Trust based in London, dedicated to working collaboratively with its five primary academies. The Trust strives to give children the best chance of happiness and success at school and beyond; and grow active citizens with a strong moral compass who want to make a positive difference in the world.
About ION
Founded in 2016, ION has become the CFOs’ choice for technology. Its team of specialists works with education, mid-market, and private equity-backed organisations to implement powerful financial technologies, enabling the vertical integration and automation of billing, payments, revenue recognition, and accounting.
