As more organizations move toward digitalization, outdated on-premises software is rapidly being replaced by a new breed of modern cloud solutions.
You don’t need to switch accounting systems very often; it may happen once or twice in your career. Yet as your nonprofit grows in both size and complexity, you will reach a point where manual processes drain productivity, and limited visibility into key metrics begin to stifle growth. This is when replacing or upgrading your financial system becomes necessary.
In a recent survey conducted by Sage Intacct (2022 Nonprofit Technology Trends Report), nonprofit finance leaders said they spend too much time on manual accounting processes and not enough time on strategic work. They bemoaned a lack of automation, and they find themselves hamstrung by disparate business and financial systems that do not share data and can’t provide the metrics needed for mission-critical decision-making.
To gain efficiency and insight, nonprofit finance leaders need better automation, better integration, and better visibility. At a minimum, a modern accounting system should automate and streamline core financial management functions such as accounts receivable, accounts payable, and financial close.
Download this E-book to explore the benefits of cloud-based nonprofit accounting software. You'll learn why replacing your old accounting solution with a modern cloud solution built for nonprofit organizations can cost less than you think – while saving you time and resources.