Olmsted Falls updates finance division with buy of Twenty first-century software program

OLMSTED FALLS, Ohio — Finance Director Cory Swaisgood is promising new software program operations will deliver his division into the Twenty first century.

Olmsted Falls Metropolis Council lately accepted a cope with Software program Options to improve the finance division’s accounting software program for $37,950 together with $16,013 in annual software program upkeep updates.

“The accounting software program was final upgraded greater than 20 years in the past,” Swaisgood stated. “The software program we’re utilizing now could be antiquated and outdated. The rationale for the acquisition of the brand new software program is actually simply to modernize our accounting processes and assist save a whole lot of time on our finish.

“That is actually simply to automate a whole lot of our processes and improve efficiencies within the division of finance all through the town associated to accounting transactions and buying requisitions and buy orders.”

Other than eliminating paper use, the brand new software program improves monetary reporting by means of the division heads and council.

“A whole lot of the stories within the new software program we will generate electronically,” Swaisgood stated. “A whole lot of the stories we at the moment give to division heads and council now are accomplished manually.

“Clearly there may be room for error.”

The updating of the finance division’s operation may even yield an estimated $1,000 to $2,000 financial savings in annual paper prices.

“Whereas there’s a $16,000 annual upkeep price going ahead, proper now we pay about $13,000 to $14,000 a 12 months for our present software program,” Swaisgood stated. “So it’s actually solely a $2,000 to $3,000 new price to us.”

In a associated transfer and at a $5,000 price every, metropolis council additionally accepted a three-year settlement with GovInvest for labor price and monetary forecasting modules.

“I like to clarify GovInvest as being monetary projection modules that may assist tremendously through the budgeting season, which we’re beginning now,” Swaisgood stated. “It should assist us not solely to extra precisely undertaking out the labor and monetary prices of the town going ahead however it should additionally assist the presentation to council and to the general public quite than simply utilizing paper like we at the moment do and Excel spreadsheets.

“It will tremendously additionally assist as we undergo varied eventualities with the unions, so there’s a whole lot of upside for this.”

As a part of the three-year cope with GovInvest, the corporate is waiving its one-time $10,000 implementation charge. Nevertheless, there can be a mixed annual $10,000 subscription price.

“In my expertise, $10,000 may be very low cost for these kinds of modules for the following three years,” Swaisgood stated. “We took benefit of a superb fee early on. We’ll see the way it goes and hopefully it really works out and might preserve shifting ahead with this. The plan is to start out utilizing it for our 2023 price range preparations with union negotiations beginning subsequent 12 months.”

So far as the brand new accounting software program, Swaisgood stated that change is anticipated to go stay on Jan. 1.

“That is going to be an enormous profit for the administration, council and the group to permit the finance division to concentrate on areas which are extra vital to residents quite than should cope with antiquated programs and guide processes,” Swaisgood stated.

Olmsted Falls Mayor James Graven added, “My objective is to modernize our monetary applications. We’ll lower your expenses over the course of the following few years. It additionally helps with monetary transparency to the residents.”

Learn extra information from the Solar Submit Herald right here.

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