Challenge
Ranked as one of the top 50 private day schools in the U.S., Tower Hill School was known for its academic excellence, but not for its business office efficiency. Multiple outdated systems and processes delayed financial transaction processing and reporting and ultimately strained relationships with parents and trustees. Tower Hill’s CFO set out to improve service, increase efficiency and free up time for critical strategic activities.
Solution
In 12 months, Breakwater automated the business office with a new platform and suite of cloud-based solutions including accounting and accounts payable, HR, tuition management and employee expense control. Tower Hill also outsourced all transactional functions to Breakwater such as payables/receivables and reporting, while keeping high-touch areas like HR and budget management in-house.
Result
Significant efficiencies and streamlining have translated into improved financial operations and timely reporting. Stakeholders now have confidence in the business office, and there is time for both financial analysis and planning new initiatives. The move to the cloud prior to COVID-19 was good fortune, allowing Tower Hill to effectively manage remote workplace challenges, PPP applications/forgiveness, and credits for unused services such as dining and transportation.
