Read Time: 5 mins
Non-Profits have a number of compliance requirements and need to produce various reports for various stakeholders. To deliver on these, non-profits have to respond using their limited IT resources and non profit accounting software that can require extensive manual works.
According to the Non Profit Innovation Report by Sage Intacct, of the total people interviewed, 64% said ‘More Time consuming’ is a concerning issue, whereas 57% of them said they are concerned about ‘Poor Visibility’ because of lack of real-time visibility, and another 57% are concerned about ‘inefficiency’ because of multiple, disconnected systems. These can be attributed to old accounting practices or out-dated on-premise accounting solutions.
Here cloud computing can play an important role and makes non-profits focus more on their mission. Just like online banking and online shopping, using cloud computing, non-profits can perform all their activities including accounting through cloud solutions without the hassle.
Sage Intacct is the Perfect Non- Profits Accounting Solution
Using Cloud computing or Cloud Solutions you can get the most out of your non profit accounting system by using these core features.
1. Maximize Efficiency with Flexibility and Custom Tailoring
Cloud Solution allows you to create dashboards and reports that are custom-tailored to your needs, allowing your accounting team to access information quickly as well as help them run more effectively. Cloud computing allows them to access as well as share information from any location as long as they are connected to the internet, allowing your company the mobility you need to run a successful business.
2. Real-time Operational and Financial Insights
With a multi-ledger and multi-dimensional software solution, your team can capture information down to the granular level, all in real-time. With this in-depth level of information, you and your team will have access to insights that will help you keep on top of the state of your business, as well as adjust accordingly in order to increase profitability.
3. Streamlining for Global Operations
Sage Intacct offers support for global non-profits by automating multi-entity, multi-site, multi-currency, and multi-country operations.
4. Flexible and Automated
This software solution will evolve with your company using flexible configurations that can be easily adjusted to the growing requirements of your operational structure, providing insights to help support your mission now and in the future.
5. Simplify Non Profit Financial Reporting
As a non-profit, you have a responsibility to provide financial transparency to your volunteers, donors, and grantors, as well as other interested parties. Sage Intacct makes it easy to create catered reports for each party in order to demonstrate your financial responsibility.
Update to Sage Intacct Today
As your Sage software consultations in Toronto and the GTA, IWI Consulting Group can help you upgrade your old non-profit accounting software into a more modern, reliable, and best-in-class solution like Sage Intacct. Contact us today to learn more about how Sage Intacct can lead your non-profit towards greater success.