For Nonprofits, the Time to Automate Is Now
How can we do more with less? That’s always a question for nonprofits, but in the midst of the COVID-19 pandemic, the question is even more relevant and pressing. How can you expand programs and services to those in need while at the same time reducing costs and strengthening donor loyalty—all while facing unprecedented challenges?
One simple answer is automation. If you have yet to automate your accounting systems, the good news is that you can act now to realize significant benefits that can help you through the pandemic and beyond.
Let’s look at a few examples of the benefits of automating your accounting processes with a product like Sage Intacct, the best-in-class cloud-based accounting software solution.
Advanced accounting solutions like Sage Intacct allow you to create a dashboard for auditors that shows them only the reports and documents they need, so they can drill right into source documents. For you, that means fewer delays and lower audit costs.
With automated purchasing workflows, you can be notified (on any device) about pending purchasing requisitions or POs that need approval. Simply point and click to make payments and move on to your next task.
Create custom reports
By automating billing, collections, sales, and other processes, you can record and report on key metrics in real time, giving executives and board members all the details they need to make smart decisions. To contain risk, access controls can be placed on financial and other data, ensuring the reports are only seen by approved audiences.
Manual accounting methods make it time-consuming to monitor, update, reconcile, and report on every internal process across the organization. When you automate billing, collections, and other processes, up-to-date records and reports on key metrics are always available to help teams work efficiently.
Automation alleviates common data entry errors, so you can be sure that every action is performed identically and that your donors, clients, and internal departments are receiving a consistently high level of service.
Automated solutions like Sage Intacct integrate with CRM and other systems you rely on every day. That way, you can easily track and drill down into donations, expenditures, and other important information without struggling to work across multiple systems.
Insero & Co. is a public accounting firm with decades of experience working with nonprofit organizations of all sizes. Our experienced experts are available to provide consulting and other remote services—whatever your organization needs to get through these difficult times and work toward your mission.