Finance transformation boosts financial operations at Peabody Essex Museum
Key takeaways
As the oldest continuously operating museum in the U.S., Peabody Essex Museum (PEM) has a rich history and a complex operating environment. Located in Salem, Massachusetts, PEM is dedicated to collecting, preserving and showcasing compelling artwork—ranging from nature and science to witch trials history—for more than 220 years.
The challenge: Disconnected systems and manual, fragmented processes
Over time, the nonprofit organization accumulated multiple technology systems to support financial management, payroll, accounts payable, budgeting and forecasting.
While those tools generated significant volumes of data, the museum struggled to turn that information into meaningful insights because these systems operated in silos. PEM needed more than a system upgrade—they needed a full finance transformation to improve visibility, streamline processes and strengthen decision making, creating a stronger operational foundation to support the museum’s mission and future growth.
“RSM, from the beginning, really wanted to get to know us as a client, as an individual entity, and understand and listen to our issues before making any recommendations,” says Peabody Essex Museum Controller and Director of Finance Daniel Draper. “Everything was deeply evaluated and nothing was simply an out-of-the-box process with them.”
The solution: An integrated ERP and EPM platform built for nonprofits
RSM worked closely with PEM to deliver an end-to-end modernization of their finance environment, anchored by a unified NetSuite enterprise resource planning (ERP) and enterprise performance management (EPM) platform. The engagement brought together cross-functional experience across technology, operations and change management, grounded in a deep understanding of how nonprofits operate, report and steward funds.
Key elements included:
- ERP modernization to replace legacy systems and unify core financial operations
- EPM implementation to strengthen budgeting, planning and forecasting
- Integrated reporting capabilities to improve visibility into financial data
- Change management to help finance teams adopt new tools with confidence
- Strategic guidance throughout system selection and implementation
“We wanted to make sure they got the right software that met their needs and was the right solution,” says RSM Principal Heidi Megna. “By coming on-site for two days of discovery and going through demonstrations, we knew right away that NetSuite was going to be the right fit for them.”
RSM did make it feel like a trusted collaboration. It's really been a conversation and not a one-way street.
Daniel Draper, Controller and Director of Finance, Peabody Essex Museum
Key results: Transforming legacy systems to support long-term success
The transformation moved PEM from manual, disconnected workflows to a future-ready finance platform. With a unified NetSuite ERP and EPM foundation serving as a single source of truth, the finance team can plan, report and respond faster, supporting both day-to-day decisions and long-term mission priorities.
Outcomes included:
- Real-time financial insight across the organization
- Stronger financial control and streamlined operations
- Greater confidence in data for leadership and stakeholders
- A scalable foundation to support nonprofit compliance, transparency and growth
“Some of the aha moments throughout the implementation came when users at PEM were able to see their data in the system and realize how they could use it in an integrated way to generate financial reports and gain more real-time visibility into nuanced needs such as fund accounting,” says RSM Director Laura Miller. “It was really great to see the excitement around what a new system would bring to the museum.”
“RSM did make it feel like a trusted collaboration. It's really been a conversation and not a one-way street,” says Draper.
A stronger foundation for the nonprofit mission
Nonprofits face a unique balancing act: To deliver on their purpose while building the resilience needed for scalability and long-term success. By working with RSM to modernize their ERP and EPM environment within NetSuite, PEM positioned their finance function as a strategic partner, equipped to support stewardship, transparency and informed decision making for years to come.
Ready to transform your nonprofit's finance function? Contact our team to learn how we help organizations build a stronger foundation for visibility, accountability and sustainable growth.