Accounting systems are not something you change often. However, as your nonprofit organization grows in size and complexity, you reach a point where manual, time-consuming processes drain your productivity, and flying blind without real-time visibility into key metrics and outcomes is stifling growth. As a good steward, you need a system that leverages the latest technology advancements.
At a minimum, a modern accounting system should automate and streamline core financial management functions such as Accounts Receivable, Accounts Payable, and Financial Close. But you can hardly fuel your growth and need for accountability and transparency by simply automating the minimum. Nonprofits, in particular, have accounting, tracking, and reporting needs that require specialized functionality in their financial management systems.
Today, inflexible, inefficient, and outdated on-premise accounting software is rapidly being replace by a new breed of modern cloud financial management solutions. Over 90 percent of businesses report using cloud solutions today, and nonprofit organizations are no exception.
Let’s explore why…
If you are like many nonprofit organizations, you have limited IT resources, extensive manual processes for accounting tasks, and a myriad of reporting and compliance requirements with various key stakeholders. You need a financial management and accounting system that is proven to overcome these challenges.
Nonprofits are striving to invest more in their core missions, decrease the cost of operations, and ultimately execute more successfully. For many, the dilemma is how to maximize effectiveness without breaking the budget. And although cost may be a driving force behind a move to the cloud, the reality is that cloud solutions are more robust and flexible than ever before and offer integrated solutions specific to the needs of your organization.
In other words, the cloud can provide both cost savings and innovative, integrated solutions that enable your nonprofit to be the best it can be.
To get the full story of Why nonprofits are moving to the cloud, download our eBook.
Considering moving your non-profit financial and accounting processing to the Cloud? JDR can help determine the best solution for you. Please complete the form below and an associate will contact you soon to schedule a brief discovery call.