In the mission-driven nonprofit world, accounting and financial management can sometimes slip down the priority list. It’s not always easy to allocate budget dollars to back office infrastructure that doesn’t directly support the nonprofit agenda, and it’s even harder to find the time and expertise to make it all work.
Consider some of the obstacles:
- Capital investment for software and hardware
- Facilities and expert personnel to implement and maintain the system
- Lengthy deployment cycles
- Capacity / scalability
- Reliability / availability
These issues aren’t part of most nonprofit organization’s core competencies. That’s why many nonprofits are increasingly turning to new-generation cloud-based solutions to automate financial management. Cloud-based financials enable the application vendor to deliver shared, scalable services that ne nonprofit agency can access over the Internet using a web browser or mobile device. There’s no need to buy, own, license, understand, manage, or control the underlying hardware, software, or data / networking infrastructure that supports the financial infrastructure. Cloud services are typically delivered on a term-based subscription basis, eliminating the need for upfront software licensing fees or major purchases of hardware. The result is cost-effective, anytime, anywhere managed access.
While the urge might be to invest in programs rather than technology, it may be wise to calculate how a modest investment in technology can transform operations and ultimately help better manage programs. Cloud technology is much easier to implement than legacy systems of the past, and quickly delivers return on investment.
Want to learn more about the cloud-based financials we recommend? Watch this short video!