iplicit Launches Pilot Scheme To Support Multi-Academy Trusts’ Accounting Needs

Following its launch into the education sector at the EdTech event Bett UK in March, accounting software provider, iplicit, is inviting multi-academy trusts (MATs) to become pilot sites with access to its award-winning accounting software.

MATs are being offered the chance to take part in an exclusive project, under which they have access to iplicit’s true cloud accounting software, on preferential terms, until October 2023.

Users will have opportunities to provide regular feedback to the iplicit team and contribute to the development of the software specifically for MATs, to enhance the product further.

Alex Middleton, Business Development Manager at iplicit, said, “Opportunities to become pilot sites will be offered to a limited number of MATs and those taking part will have roundtable sessions with the iplicit development team, so their feedback can help with the continued evolution of the product beyond the launch edition.”

iplicit already has more than 10,000 users in more than 850 organisations including sizeable charitable trusts and businesses.

iplicit’s charge into the schools and MATs market sees the accounting software provider offer its cloud software to MATs as the company seeks to disrupt a sector dominated by a single player using ‘on-premise’ software.

Research carried out for iplicit recently found that almost half (47%) of chief financial officers in MATs rate their software as “inadequate” or “requires improvement”. iplicit surveyed 200 CFOs working in existing MATs.

With the UK Government’s ambitious 2030 deadline for every school in England to become part of a MAT, iplicit’s entry into the market comes at an opportune time for MATs.

Middleton explains, “Given the average multi-academy trust is around three, to five schools, there will be a need for many to merge, or add additional schools – making it extremely important for education accounting professionals to have scalable finance software that is up to the job.

This requires a sharp move away from legacy software solutions, towards true cloud software that can connect to all aspects of the organisation – this is especially important with organisations such as MATs which have multiple legal entities.”

Middleton continues, “We can save MATs thousands of pounds, as our true cloud software can scale to support this growth and scaling – a common challenge for existing legacy, on-premise software.

Ultimately, the success of MATs will be intrinsically linked to having access to great technology which supports their processes including for their finance teams.”

“We are ready and raring to welcome MATs onto our pilot scheme and to help to support them with their bespoke accounting needs,” concludes Middleton.