Is Your Accounting Software Doing Enough for Your Nonprofit

ARTICLE | November 15, 2023

Some nonprofits think of their accounting software as a tool that simply needs to be good enough to complete the tasks required of it. In reality, your organization’s accounting software can, and should, play a critical role in everything from donor relations to mission planning.

To understand the difference that a best-in-class software platform like Sage Intacct can make for your nonprofit, let’s look at how it impacts program metrics, donor impact, cash flow, and budgeting.

Deepen your insight into program metrics

Sage Intacct provides tools to delve into your organization’s program metrics and outcomes and gain a comprehensive view of your initiatives’ success. With customizable dashboards and reports, you can quickly and easily analyze key performance indicators (KPIs) that align with your mission.

Compared to other accounting platforms, you’re likely to find that Sage Intacct makes it easier to identify trends, areas for improvement, and areas of success. That, in turn, can help you allocate resources wisely, ensure program effectiveness, and confidently communicate your organization’s progress to stakeholders.

Demonstrate impact to donors

With Sage Intacct, you can transparently showcase your nonprofit’s impact to donors. The platform provides accurate and up-to-date financial data, so you can provide donors with a detailed breakdown of how their contributions are being used, right down to specific program expenditures.

This level of transparency builds trust and confidence in your organization, fostering stronger relationships with donors who appreciate seeing their support making a tangible difference.

Gain a handle on cash flow

Fluctuating revenue streams, grant disbursements, and shifting expenses can make it difficult for nonprofits to maintain stability. Sage Intacct’s robust cash flow management capabilities offer a real-time view of your financial position. You can accurately forecast cash inflows and outflows, ensuring that you always have a handle on your organization’s liquidity.

By avoiding cash flow surprises, you can confidently plan for growth, respond to unforeseen challenges, and make strategic decisions that align with your mission.

Understand real-time budget vs. actuals

Monitoring how your actual expenses align with your budget is crucial to maintaining financial health. Sage Intacct’s real-time budget versus actuals feature provides instant visibility into how well you’re adhering to your financial plans.

This real-time insight empowers you to make informed adjustments, ensuring that your organization stays on track to achieve its financial goals. Plus, the ability to quickly address budget discrepancies enhances your overall financial accountability.

Get the support you need

Sage Intacct is more than just software—it’s a powerful tool that can help nonprofits unlock insights, improve transparency, and enhance financial management. Insero & Co. can help you make the transition to the right ERP solution to meet your needs. Contact us to talk about how we can help you improve your processes to be more efficient and productive.