About Benevity
Founded in 2008 and based in Calgary, Benevity is a leader in corporate purpose software, specializing in charitable donation-management, volunteer-management, and grant-management platforms. It is one of Western Canada’s largest startups, serving around 250 Fortune 1000 companies.
Situation
Benevity, a Calgary-based company specializing in charitable donation, volunteer, and grant management platforms, faced obstacles in automating its fund disbursement processes. Benevity needed to automate fund disbursement matching to keep up with rapid scaling. Additionally, they experienced bottlenecks in the month-end close process due to multiple donor sources and various payment methods as well as inefficiencies in customer onboarding caused by manual matching procedures.
Action
To address these challenges, Benevity partnered with Centroid, leveraging their expertise in Oracle Transaction Matching and collaborative project frameworks. The project, which spanned 3.5 months, focused on automating fund disbursement processes. Key actions included identifying match criteria within customer-facing invoices and outgoing fund disbursements, configuring automated matches across multiple credit card processors and ACH deposits, and implementing a collaborative project framework with shared workstreams involving Centroid and Benevity teams.
Impact
The collaboration with Centroid significantly improved Benevity’s fund disbursement operations, successfully executing the project across seven entities within a 12-week timeframe. Benevity achieved a credit card match rate exceeding 99% and an ACH disbursement match rate also exceeding 99%, enhancing accuracy and efficiency while reducing manual errors. This initiative streamlined Benevity’s fund disbursement processes and positioned them for continued growth and scalability, leveraging Oracle Transaction Matching to advance operational efficiency, accuracy, and customer service in charitable donation and grant management platforms.