Street Child, an international charity dedicated to getting children into education across 15 countries, has transformed its financial operations using cloud accounting software from Aqilla. The move has enabled the organisation to manage multi-currency funds more effectively, meet complex donor reporting requirements, and gain real-time visibility over its global finances.
Headquartered in the UK with 15 offices worldwide, Street Child operates in some of the world’s lowest-income and most disaster-affected countries, including Afghanistan, Ukraine, and Somalia. Following several mergers in 2018, the charity faced challenges with fragmented financial processes and a lack of visibility over local operations, often relying on spreadsheets.
A tailored cloud solution for complex needs
As the charity expanded, off-the-shelf accounting tools proved insufficient for its specific project and fund accounting needs. Street Child implemented Aqilla to create a unified, cloud-native platform tailored to its requirements.
“Aqilla gives us the detail and flexibility we need to track every pound raised and show donors exactly where their money goes,” said Dave Smeath, senior manager, programmes finance & operations at Street Child.
A key feature of the new system is flexible, donor-specific reporting. Every transaction is tagged with donor, project, and budget-line codes, allowing for granular tracking of expenditure. This capability is crucial for the charity to manage both restricted funds (donations for specific purposes) and unrestricted funds, ensuring compliance and transparency.
Multi-currency clarity and faster month-end
Operating primarily in Africa and Asia, Street Child’s local finance teams can now post transactions in local currencies, such as Ugandan Shillings. Aqilla automatically converts these to GBP using approved monthly exchange rates, simplifying variance analysis and audit trails.
The cloud-based nature of the platform allows the HQ team in London to monitor progress daily rather than waiting for month-end reports.
“We can slice reporting any way we need, from project-based reports to management information,” explained Smeath. “Because Aqilla is in the cloud, we can track the purchase of a box of pens in South Sudan from anywhere in the world.”
This real-time visibility also enables faster problem-solving. “I can check Cameroon’s data in the morning and coach the team through any changes we need to make on the same day,” Smeath added. “Aqilla allows us to spot issues before they become problems.”
A partnership for sector-wide improvement
The relationship between Street Child and Aqilla has evolved into a partnership that benefits the wider charity sector. The two organisations collaborate on software developments, such as refining how high-denomination currencies are handled and enhancing controls to prevent miscoding.
Future plans include exploring AI-driven business rules to further automate processes.
“Street Child is the best kind of customer,” said Hugh Scantlebury, CEO of Aqilla. “They’re proactive and ready to work with us on developing new features for the benefit of the sector as a whole. We are in the privileged position of being able to tap into Street Child’s expertise in charity finance and make life easier for other charities.”
In a climate of shrinking grants and tougher donor scrutiny, the efficiency and transparency provided by Aqilla are vital for Street Child’s sustainability and its mission to keep children safe and in school.
The post Global Charity Street Child Achieves Real-Time Financial Visibility with Aqilla appeared first on The Fintech Times.
