eBooks
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3 Nonprofit Accounting in the Modern Era Accounting systems are not something you change often. However, as your nonprofit organization grows in size and complexity, you reach a point where manual, time-consuming processes drain your productivity, and flying blind without real-time visibility into key metrics and outcomes is stifling growth. As a good steward, you need a system that leverages the latest technology advancements. At a minimum, a modern accounting system should automate and streamline core financial management functions such as Accounts Receivable, Accounts Payable, and Financial Close. But you can hardly fuel your growth and need for accountability and transparency by simply automating the minimum. Nonprofits, in particular, have accounting, tracking, and reporting needs that require specialized functionality in their financial management systems. Today, inflexible, inefficient, and outdated on-premise accounting software is rapidly being replace by a new breed of modern cloud financial management solutions. Over 90 percent of businesses report using cloud solutions today, and nonprofit organizations are no exception. 1 Let's explore why… 1 2012 Global Cloud Computing Survey Results, TechSoup Global Introduction