When a company chooses a cloud service, they have certain expectations. First off, most companies plan to enjoy the cost savings in IT—not having to maintain a powerful, scalable server with guaranteed up time. Rather than paying for room to grow, they anticipate that the service will be able to expand during times of peak demand—referred to as elasticity. Second, they expect fresh software that they don’t have to update. The provider updates the software at frequent intervals for all subscribers. Third, flexible costs allow them to pay for just the features, number of users, and server space they need, when they need it. And lastly, they expect to access the service from anywhere, even mobile devices. These are the expectations of cloud, but do these expectations always align with reality?
Let’s face it -- accounting information is almost completely useless unless you have the reporting tools to help you measure what really matters to your non-profit organization. This applies to all non-profits; from educational institutions, faith-based and ministry organizations, to health and human services agencies. How can the executive directors or management possibly understand the complexity of their overall operations and make sound decisions without good reporting?
We are in an age of increasing demand for transparency/accountability and are looking for ways to generate and demonstrate successful outcomes. We must have simple, easy to understand metrics that can quickly take the pulse of an organization and assist with decision-making. We must have metrics reporting that never loses focus on what is important and what truly matters to management and stakeholders.
A modern, non-profit accounting solution will consistently track your data by key components and give you instant insight, empowering you to proactively manage funding, programs, students, members, and more. These systems can provide access to both financial and statistical data that allow you to automatically calculate key metrics to measure what matters. These metrics can report on critical information such as financial (revenue), statistical (students), or any number of combinations (donations per attendee). Sage Intacct is such a software solution that was designed to provide real-time visibility into all components of your organization.
As management of a non-profit organization, consider the potential immediate and long-term value to your organization of real-time & accurate reporting. Think about the benefits of being able to easily generate and clearly demonstrate successful outcomes to all stakeholders including funders, board members, or donors. How could you improve the health of your organization by having real-time visibility into funding, programs, donations, expenses and more?