The challenge
Managing multiple revenue streams—ticket sales, bar and events, and public funding—was time-consuming and prone to human error. Financial reporting was manual, slow, and disconnected, making it difficult to provide real-time insights to budget holders.
The solution
Sage Intacct centralised financial management, automating processes, improving reporting accuracy, and enabling real-time financial insights across departments.
Results with Sage Intacct
Bristol Old Vic cut reporting time in half, reduced audit processing by two months, and gave every department instant access to financial data, driving efficiency and accountability.
- Month-end accounts completed 50% faster.
- Audit time cut from four months to two.
- Real-time budget visibility for every department.
- Intercompany transactions streamlined with one-click processing.
Balancing the books while treading the boards
Bristol Old Vic is more than a theatre. It’s a complex organisation with multiple revenue streams; from ticket sales and bar takings to public funding and private donations. Managing these diverse income sources required meticulous financial oversight, yet the theatre’s outdated systems struggled to keep up.
Previously, finance processes were manual, slow, and error-prone. Year-end accounts relied on spreadsheets, making reconciliations and audits time-consuming. Budget holders had little visibility over real-time financial data, forcing them to wait weeks for reports from finance.
“Before Sage Intacct, everything was processed manually,” explains Sam, Finance Manager. “There was no automation, and that meant more time spent inputting data rather than analysing it.”
The lack of integration between revenue streams also created inefficiencies. Intercompany transactions required laborious reconciliation, while tracking grant funding across different projects was a major challenge. Without a single source of financial truth, decision-making was reactive rather than proactive.
No more drama with smarter accounting
Recognising the need for a more efficient system, Bristol Old Vic searched for a new platform. Enter stage left, Sage Intacct.
The finance team worked closely with Sage to configure the platform for their unique needs as implementation wasn’t just about upgrading software—it was about transforming how the whole theatre managed its finances.
“With Sage Intacct, we’ve been able to consolidate all financial data into one place,” says Louisa McCann, Finance Director. “That means we can generate reports instantly, rather than waiting weeks.”
The team immediately noticed the difference. Intercompany transactions, which previously required extensive manual work, could now be processed with a click.
Real-time access to financial data empowered every department to take control of their budgets. “Budget holders can now see exactly where they stand at any moment, rather than relying on monthly reports,” explains Lisa Ronson, Head of Finance. “That level of transparency has made a huge difference.”
Bringing financial clarity centre stage
For Bristol Old Vic, financial reporting was once a painstaking process. Management accounts took up to 20 days to compile, with finance teams manually inputting data into spreadsheets. Year-end audits stretched over four months, consuming valuable time and resources.
Sage Intacct changed everything. “Our management accounts turnaround has dropped from 15–20 days to just 10,” says Sam. “We’ve also cut our audit time in half because reports are now fully integrated.”
With automated processes and a direct link between transactions and reports, finance teams no longer waste time reconciling inconsistencies. Auditors can access the data themselves, streamlining compliance.
Giving every department a front-row seat to their finances
Before Sage Intacct, department heads had to wait weeks for financial updates, limiting their ability to track spending and adjust budgets in real time. Now, budget holders have instant access to live financial data.
“Every department can see its figures at a glance,” explains Lisa. “That means they can spot anomalies, adjust spending, and make informed decisions without having to request reports from finance.”
With the user permissions within Sage Intacct, access is tailored—budget holders see only what’s relevant to them, ensuring confidentiality while improving financial accountability.
Less admin, more artistry with effortless fund tracking
Managing multiple revenue streams—ticket sales, bar and events, production, and grants—previously required complex reconciliations between Bristol Old Vic’s four subsidiaries. Intercompany transactions were manually recorded and prone to errors.
Now, with Sage Intacct, intercompany transactions are processed with a single click. “We can now see all four companies at a top level, which has significantly improved accuracy,” says Lisa. “There’s no more doublehandling of data, and reconciliation is seamless.”
Grant funding, which must be reported separately for compliance, is also easier to track. “Restricted and unrestricted funds are now automatically designated within the system,” Lisa explains. “This means we can generate compliance reports instantly, ensuring we meet all regulatory requirements.”
