Get Maximum Value from Your Fund Accounting Software

Maximum-Value-from-Fund-Accounting-SoftwareNonprofit organizations must be careful when making investments. Capital is limited and should only be used to increase overall revenue if it isn’t going to be spent on program expenses to further the organization’s mission. Consequently, software solutions can seem like risky purchases, especially when a nonprofit isn’t certain how much value it would be getting from a vendor.

Fortunately, one of the upsides to dealing with a nonprofit accounting software vendor is that there are many advantages beyond the applications themselves. The long-term care and attention to detail that these vendors offer will put nonprofits’ minds at ease. Consider the following instances of value that this kind of software can offer.

Data analysis
If a nonprofit group had technological and computer experts on retainer, they would likely not need to contact a software vendor to help streamline financial operations. Understandably, nonprofits won’t always know what kinds of programs and systems they need to make their work easier and more efficient. Software vendors can help to perform data analyses of the requirements and responsibilities of an entire organization. This is crucial for making sure that any software solution is not only tailored to specific needs, but also won’t exceed a strict budget.

Hardware evaluations
Some software requires powerful machines on which to run, making the cost of implementing a nonprofit accounting system higher than the software itself. Fortunately, a software vendor and/or its business partners will be able to recommend certain devices and accessories to streamline their operations. In addition, some vendors offer cloud solutions which can significantly reduce hardware requirements on the organization’s end.

Employee training
Not every person in the accounting department is a technological wizard. Software vendors understand and even expect this. Training and education are integral components of business software and can be either given or recommended by vendors. This helps ensures that no value is lost between an implementation and the time when workers feel comfortable with a system.

Post-implementation support
Despite all of the planning that necessarily goes into a nonprofit accounting software implementation, there are sure to be a few minor problems. While they likely won’t set an organization back very much, it is nice to know that help is available when needed. Most vendors offer a 24×7 support knowledge base as well as direct assistance via phone, email and/or chat. Software updates, version upgrades and patches are made available on a regular basis to correct common software problems and to improve overall functionality.