Though it may not actually be written in your nonprofit’s mission statement, one of your organization’s primary goals is to get the absolute most out of every available resource. But when it comes to accounting, it’s easy to get bogged down in the day-to-day tasks needed to keep everything running smoothly, rather than focusing on efficiency, growth and mission fulfillment.
If your organization still depends on spreadsheet-based bookkeeping, it’s likely that both time and funds are being wasted. Sage Intacct, a cloud-based accounting solution, offers a way to streamline your organization’s financial management with features specifically developed for nonprofits.
About a third of Sage Intacct users are nonprofits, from trade associations, membership-based groups, and charities to schools, faith-based organizations and cultural institutions. No matter which sector your nonprofit is part of, using Sage Intacct can help your organization improve its financial health and increase its impact.
Here are 9 advantages that Sage Intacct offers nonprofits:
- Effortless consolidation. Sage Intacct allows your organization to manage multiple entities and locations, as well as all of your grants and donors, with ease.
- Efficient automated processes. Your organization can eliminate the need for time-consuming manual data entry and instead start saving time on tasks like month-end closes.
- Unlimited dimensions. When transactions are added to the system, they can be tagged in any way necessary, making it easy to pull related data together. You can add tags for programs, grants, donors and locations, to name a few.
- Uncomplicated reports and dashboards. You can use Sage Intacct to share data in clear and concise ways, illustrating key metrics to show to leadership, the board and funders. Your organization can also use reports to tell its story to donors, with clear supporting evidence that their dollars are making a difference. Graphics like pie charts and bar graphs help make information even easier to understand.
- Access to the Nonprofit Financial Board Book. This financial health assessment, developed by Sage Intacct and GuideStar, was created to help nonprofits improve their financial stewardship and reach greater mission accomplishments. With custom dashboards, organizations can compare their data to key metrics recommended by GuideStar. Groups can use the information to drive decision-making and planning and share actionable insights with interested stakeholders.
- Real-time data. Whether you’re working at your desk or using your laptop as you travel, you can access Sage Intacct’s cloud-based system to see up-to-date numbers. The Spend Management add-on can be used to track expenses related to grants, departments, and locations, and you can see spending as it occurs.
- Smooth integration with third-party solutions. Information from membership management, fundraising, and payroll systems can be imported into Sage Intacct and seen in the context of the overall financial view.
- Reliable support for changing reporting standards. With Sage Intacct, your organization is assured of staying current with regulatory updates and changes.
- Frequent updates. Sage Intacct introduces new features and improvements in its quarterly releases, which are rolled out automatically without the need for IT support.
Learn more about how using Sage Intacct can help your nonprofit organization improve its financial health and achieve greater mission fulfillment. Schedule a call with one of the experts at RSM today.