Breaking Down Global Financial Barriers

About Forage

Forage looks to tear down the barriers between potential and opportunity. They give every student an equal chance of discovering and landing their dream job. In a world where companies are seeking to democratize access to information, education, and financial wellness, Forage is at the forefront of this movement.

The team has been focused on creating an even playing field for students to thrive all the while finding ways to keep their business efficient and in tune with growing demand in multiple markets.

The Challenge

Consolidating Global Financial Insights

Forage is a global business with offices in the United States, UK, and Australia. Their reach and scale required them to maintain multiple versions of the accounting software Xero – creating two separate sets of books and records. Operating in different countries also added a layer of complexity due to foreign currency conversions forcing the finance team to spend lengthy cycles downloading, translating, and converting numbers into standard reporting packages.

As the team continued to perform deeper analysis into customer revenue, company spend, and profit margins to get a more complete picture of their global business, it was clear they needed a more automated and streamlined reporting structure that would allow them to centralize their global financial data and accelerate P&L creation.

The ultimate goal, connect the dots between key financial datasets to obtain a more holistic view of their business, quickly.

The Solution

Connected Financial Systems

Leveraging the power of Mosaic’s multi-subsidiary consolidation with built-in currency conversion and eliminations, the Forage team was able to connect two separate instances of their Xero ERP software to easily analyze global revenue and expenses in one place, automatically.

The time savings enabled them to focus on strategizing for growth instead of hours of data collection, manipulation, and conversion.

Forage also partnered with Mosaic’s Customer Success team to implement best practice reporting structures. This enabled the team to view P&L by departments and by subsidiary, saving the team hours of manual work and increasing visibility across the organization.

The Impact

Faster, More Streamlined Global Operations

Today, Forage is able to scale their business to meet customer needs all while keeping their financials organized and transparent. Mosaic has enabled them to integrate multiple ERP systems to analyze, report, and forecast both financial and non-financial metrics at a consolidated level.

As Forage seeks to change the lives of students all over the world, Mosaic will help streamline financial analysis and understanding across borders, giving the team more time to spend on forecasting insights, and building strong partnerships with stakeholders across the business.