In 2012, MedicAlert, a charity which holds a medical record for its members and enables them to carry their critical information on pieces of jewelry, decided to outsource its financial management instead of handling it in-house.
Insight Associates took over managing day-to-day processes such as payroll and processing invoices, and started producing regular management accounts to help the organisation make better financial decisions.
For Tony Gadsby, who was a trustee at the time, and later became Chairman and acting CEO, it was a big relief.
“Financial management had been taking up too much of my time,” he says. “I could finally stop worrying about it. We had an external set of eyes that would warn us if things started to go wrong, and I could be confident the information I was receiving was accurate. It allowed us to concentrate on the charity itself, rather than the number-crunching.”
When the new CEO, Kirsten Giles, came on board in 2017, Insight Associates was invaluable in helping her understand the business.
“Insight has not only helped me understand the history – why we were doing certain things and use certain financial vehicles - but suggested a lot of improvements. “
“They also worked hard to give me the financial information I needed to make the changes I was considering, tailoring the management accounts to my needs. They were a terrific sounding board.