Considering new fund accounting software? Some things to think about as you explore.

It’s sort of a mantra of ours that the decision you make regarding your accounting software is one of the most critical choices you can make for your nonprofit organization.  Look no further than the amount of time your accounting and finance team spend on creating monthly, quarterly, and program-specific reports, just to name a few.  Reporting is the key to effective use of the funds you’ve been awarded as well as additional funds you hope to gain.

The solution that works wonderfully for one nonprofit may not be a good fit for another nonprofit.   It’s part of the reason that we represent a number of different fund accounting solutions.  When counseling a nonprofit on software selection, we don’t walk in with a preconceived notion of selling a particular solution.  We want to learn about your organization first and understand the challenges that you face.

There is so much more than just software to consider.  While features and functions are important, there may be other factors that need to be weighed in your decision.  Are you staffed to support a system internally?  Do you have the necessary systems and infrastructure (or the means to invest in them) to host your systems?

Most of the time, there are human and technical resources available to support an in-house system.  But more and more, due to limited budgets and internal resources, we’re being asked about Software As A Service (SAAS) and Cloud Computing.  We believe that this is more than a fad and that it will continue to be a consideration on the list of choices available to nonprofits.  As a result, we’ve recently added Intacct to our product portfolio in order to better respond to the different requirements of nonprofits seeking our help.

If you have questions regarding the various fund accounting solutions on the market, we’d be happy to answer them.  Use the comments section here on the blog or give us a call.  Also, we routinely host free webinars on the various solutions in order for you to learn more about them.  You can see the webinar topics here.

With so many good solutions available to relieve you of tedious, time-consuming, cumbersome manual processes – you should look to a solution that can automate those routines and give you more time to analyze the data – and we’d be happy to help you explore the options in order to find the perfect fit for you.

 

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