Unlock the Power of Modern Financial Management for Nonprofits
In the rapidly evolving nonprofit sector, finance leaders are tasked with juggling increasing regulatory demands, the need for real-time financial insights, and the pressure to make agile decisions. Traditional financial software systems that pre-date the Internet often fail to meet these challenges. Is your current accounting system helping you achieve your mission—or holding you back?
The Nonprofit Accounting Software Buyer’s Guide is your essential resource for understanding how to choose the right financial management solution for your organization. Whether you’re considering a cloud-based solution or modernizing your existing system, this guide will help you navigate the complexities and make the right decision for your nonprofit’s future.
What’s Inside the Guide?
1. Why Traditional Financial Management Systems Are Holding You Back
- Learn why outdated systems such as QuickBooks, Microsoft Dynamics, and Oracle fail to provide the flexibility and real-time visibility your nonprofit needs to thrive in today’s always-connected world.
2. The Six Key Questions to Ask When Considering a Cloud-Based Financial Solution
- Ensure you’re asking the right questions to evaluate cloud solutions and make the most informed decision for your nonprofit.
3. A Clear Overview of Software Delivery Models
- Understand the pros and cons of three key delivery models:
- On-Premises Solutions: Traditional, yet costly and inflexible.
- Hosted Solutions: A middle ground with limitations.
- Native Cloud Solutions (SaaS): The modern, scalable solution designed for today’s digital landscape.
Why Cloud-Based Solutions Are the Future
In an era where data is key to making informed, mission-critical decisions, the agility of cloud solutions is paramount. Discover how cloud-based financial solutions:
- Offer real-time access: Always-on, anywhere access to financial data, critical for making decisions at a moment’s notice.
- Simplify upgrades: Automatic updates and seamless customization, without the risk of “dead-end” customizations.
- Drive efficiency: Eliminate costly IT infrastructure and maintenance, freeing up resources for what really matters—your mission.
Key Benefits of the Right Financial Management System for Nonprofits
- Get the Financial Information You Need, When You Need It: Cloud systems provide real-time visibility into your financial and operational KPIs, enabling smarter decisions on programs, staffing, fundraising, and more.
- Cost-Effective & Scalable: With no large upfront fees, cloud systems scale with your nonprofit’s growth and evolving needs.
- Increase Return on Mission (ROM): Make every dollar work harder by unlocking efficiencies and ensuring accurate financial reporting across the organization
Which Software Delivery Model is Right for You?
Take a look at the comparison chart below to find the best fit for your nonprofit:
| Feature | On-Premises Software | Hosted Software | Native Cloud Computing (SaaS) |
|---|---|---|---|
| Application Development | 1980s technology | Hosted on 3rd-party servers | Built for online delivery |
| Deployment | Installed on own hardware | Runs on 3rd-party hardware | Delivered over the Internet |
| Customization | Expensive, time-consuming | Risk of outdated customizations | Easy-to-configure, seamless upgrades |
| Upgrades | 12+ months | Same as on-premises | Generally quarterly |
| Integration | Expensive | Same as on-premises | Easy via APIs |
| IT Support | Customer-supported | 3rd-party vendor support | Included in the package |
| Multi-tenancy | No | No | Yes |
| Hardware Requirements | Specific operating system | Requires Windows | Web browser-agnostic |
This article is posted at sage.com
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