A platform for enhanced financial visibility and growth at The British Psychological Society
As a membership organisation, BPS records its members’ details on a CRM system. This is linked to another bookkeeping system which manages the subscriptions.
With 65,000 members all subscribing to at least one or more different types of memberships annually, as well as taking up CPD opportunities and other services, the incumbent system was becoming sluggish. In addition to being slow, the legacy system’s software support was ending.
BPS wanted to invest in a new system that would effectively bring the main charity and its two subsidiaries up to date with the latest technology and future proof the Society going forward.
Phil Hodgett, Director of Finance and Resources at BPS explains, “It was the right time to invest in a new system that could run our memberships and finances with speed and efficiency, as well as support our needs going forward as we continue to diversify our product offerings.”
Xpedition was selected to implement Microsoft Dynamics 365 Business Central to streamline financial processes and to create a platform for future growth. This will work alongside the Microsoft membership management system that runs the membership details.
The finance team at BPS use Business Central for all financial management and reporting requirements. All sales invoices, income and purchase orders for the three organisations are run in the system, with membership and subscription data pulled directly from the membership management system. The solution was quickly implemented successfully, and is enabling BPS to consolidate its financial data and track business progress through the generation of accurate reporting. Phil says, “All our financial data is now all under one roof which makes performance analytics and reporting much easier. We can see how our memberships are going, solve issues and can make decisions quicker, in order to provide a better service to our members.” He highlights, “The fact that our 2023 income and expenditure came within 1% of our budget shows that Business Central is working well for us.”
Working with Xpedition
“The new system has given us and our trustees more confidence in our strategic decision making. We are now in a position to make accurate at the right time, rather than having to wait until the year end.”Phil Hodgett, Director of Finance and Resources, British Psychological Society