iplicit's award-winning finance solution has been tailored for the MAT market, in order to provide a compelling alternative to the legacy systems that many MATs currently use.
Instead of having restricted interconnectivity with other systems, issues around remote access and punitive pricing to add every new school, iplicit provides an education-focused, true cloud option with a very simple and cost-effective way to add schools to your MAT as you grow.
Automatically consolidate and improve transparency with an instant, 360-degree view across all of your schools and academies financial data.
iplicit's unlimited accounting dimensions, multiple cost centres and nominal codes make it quick and simple to monitor and compare spend across departments, schools and academies.
Drill down to gain an in depth view of your budgets and forecasts, helping to identify cost savings and control spend.
iplicit's powerful reporting functionality provides real-time information at a moments notice, helping your academy to make better, more informed, data driven decisions.
Our mission is to help finance teams move seamlessly to a modern cloud finance operation, and we have successfully supported many organisations such as nonprofits - who typically have extremely complex reporting requirements - through this transition for many years.
iplicit is quite unusual in that it offers no limitation upon the number of elements that can be reported on within the system. Any attribute in any field, within an unlimited number of possible reports, is available to present as management information in real-time.
iplicit has an expert team of implementation consultants who will work with you to get your school or academy onboarded quickly. It takes 16 days on average to set up so there’s no need to wait for a long-winded implementation. Multi academy trusts can start realising the benefits straightaway.
We can also help you add and setup new schools at the touch of button, saving trusts literally thousands of pounds in traditional setup services.
iplicit offers powerful reporting capabilities allowing schools and multi academy trusts to get real-time insights into key metrics and KPIs. Consolidate multiple academies in seconds.
Reducing manual workload is at the heart of what we do. iplicit will help multi academy trusts automate highly manual tasks like consolidation, approvals, and bank reconciliation .
iplicit is available anywhere, on any device connected to the internet through any modern browser or through our mobile app. We are also API first, making integrations easy.
iplicit offers unlimited analysis attributes and custom data which enables powerful management reporting and slice and dice analysis for school and MATs.
Automatically report on individual academies, groups of academies or at a consolidated trust level in real-time for easy reporting.
We can add and setup new schools at the touch of button, saving trusts literally thousands of pounds in traditional setup services.
Built-in suite of management and statutory reporting, including SOFA and academy accounts return.
Apply data access control to ensure users can only work with and report on schools and academies assigned to them.
Create single purchase orders and invoices across multiple academies and automatically allocate the expense .
Pay creditors across the trust and academies from a centralised bank account in a single bulk payment run.
Receive funding into a single centralised bank account and allocate to individual academies in the trust.
Easily automate routine tasks such as accounts payable, inter-trust transactions, group VAT liabilities, manual journals, cost allocation, and month-end journals such as prepayments and deferred income.
Manage and submit VAT returns via MTD for individual registrations or VAT groups. And, automatically calculate and apply partial VAT exemptions.
Submit and manage requests with approval workflows. iplicit's built in workflows include: expense claims, purchase order / invoice approval, journal and payment run approvals, forecast and budget approvals and more!
Auto bank feeds come as standard, speeding up bank reconciliation and payment processes and removing the chance of manual error during uploads.
“iplicit has cut the amount of time we spend on bank and other general ledger reconciliations. Not only is there a time saving from previously manually keying transactions into the system, but also a higher level of accuracy as bank and other transactions are automatically entered via the feeds. This enables transactions to be identified earlier which in turn leads to a more satisfied customer as they are quickly enrolled.”
“The big difference is that when we want a report produced, we can produce it, rather than having to go to our IT team as we used to – and that saves a lot of time.”
"The timesaving we experience with iplicit is enormous! We are currently preparing our year-end process, and already we are saving six weeks consolidating the various project balance sheets from various QuickBooks versions.
Just take Donor Reports as an example – it’s essential that we have transparency and can report back to Donors on how and where their funds have been spent. With our old system, each Donor report would take three weeks to produce, with iplicit a report can be done in less than 2 days!"
"We now use the workflow authorisation functionality, so everything can be done electronically now. Previously we used to have to get people to physically sign things off and then email their approvals. With the new iplicit system, all the documents are accessible digitally, at the point of approval, so the process is remarkably faster."
"One of the reasons why I chose iplicit was because it was clear to see how the system can scale with us.
An interview series with multi academy trust leaders on the issues MATs face, and their thoughts on the best way forward
Mark Wilson, Chief Executive
"There is quite a philosophical divide emerging around the crucial question of how to evaluate education. I think society is nuanced, which means education has to be nuanced, and some of the measures the sector sets its stall by are incredibly blunt and can never truly tell the story."
Janet Sheriff OBE, Chief Executive
"What is important is that a multi-academy trust can provide a depth and range of central services, which a stand-alone school or trust wouldn’t be able to facilitate; a mixture of secondary and primary schools brings more additional resource than primary schools alone."
Mark Greatrex, Chief Executive
“To deliver real improvement, multi-academy trusts need critical mass - a single school academy by itself couldn’t really replicate the services previously provided by a local education authority, so there was arguably always a need for academies to come together."
MATs now control millions in budgets and can set their own curriculum and term dates. However, trusts are facing rising costs and unfunded wage increases, with no corresponding changes in performance tasks.
In this 30 minute webinar we explore the top five challenges that school and multi academy trust leads are facing right now, and in the next 3-5 years
The latest edition of the Academy Trust Handbook, just published by the government. Here are the key changes in the Academy Trust Handbook – also known as the Academies Financial Handbook – when it comes to finance.