Written by Britiany Tompkins
As a nonprofit leader, you how important it is to make every spend count — no matter how small or large your budget. Thankfully, modern technology is a game-changer, and it is enabling nonprofit growth without adding more people or blowing budgets.
Cloud-based financial management systems provide you and your team added control and insight, mobility and affordability. How? Keep reading for quick insights or take a deeper dive in our downloadable eBook, The Nonprofit’s Guide to Greater Mission Impact Through Modern Financial Management.
Inadequate Technology Costs MORE Time and Money
Nonprofits have unique needs from technology. While most standard business software does not fit the bill, nonprofit leaders often feel they just have to make do. Making do forces employees to resort to spreadsheets, paper forms and other manual processes. All of these administrative tasks, from entering expenses or updating a project status, take valuable time away from mission-critical tasks. Being distracted from more important activities, like managing community and membership needs, can cost you more than the systems that actually work the way you do.
Simply put, inadequate technology costs time and money, both of which are a hot commodity for nearly every nonprofit.
Replace Outdated Systems with Cloud-Based Financial Management Solution
Tailored technology for nonprofit organizations like yours not only exists, it is more affordable than ever thanks to the cloud. Subscription pricing models make it easy to justify a predictable monthly cost with no upfront capital needed for hardware or hefty maintenance fees. The time you will save pays for the solution and frees up budget for mission initiatives.
Here are a few big advantages you may see immediately by replacing outdated systems with a modern, cloud-based financial management solution.
- Do more with less: A centralized, integrated financial management system will streamline data entry throughout the organization. You can automate daily tasks, tracking and reporting—to name a few. Your team will be able to handle more work, more efficiently and accurately, without more staff.
- Identify and monitor metrics: Role-tailored dashboards make it very easy to identify and monitor key performance metrics. You can keep an eye on actual spending against forecasted, the outcomes of programs or educational services, membership changes and other metrics that show progress toward achieving mission initiatives.
- Improve collaboration: In this digital era, many people are working in many places outside of the office. Cloud-based financial managment systems are securely supported through mobile devices. As a result, your team can enter and access data while at a conference, in a meeting with a member or donor, or while working from home. No matter where your employees or volunteers are located, they can collaborate efficiently and contribute to your mission 24/7/365.
Let Technology Give You the Advantage
Inefficient software and manual process are stagnating growth and can put your nonprofit at risk. Modern financial management paired with a trusted industry partner like BPM can help give you the advantage you have been looking for. Download the eBook and contact us to learn how today’s technology can provide greater control and insight, streamline operations, boost productivity, increase visibility and support the mobility your team wants.
About BPM’s Sage Intacct Team
BPM’s Sage Intacct team works strategically with a wide range of clients to implement innovative technology within their existing accounting systems. Learn more about how we help provide maximum insights and enable real-time results on BPM’s Sage Intacct blog.