There are over 1 million nonprofit organizations in the United States, and that number is continuing to grow every year. With hundreds of new startups and existing organizations looking to improve their nonprofit management, it’s important to implement effective nonprofit management techniques and solutions. Effective nonprofit management requires maintaining accurate financial records, creating and maintaining the required financial reports, running up-to-date fund accounting software, and staying in touch with everyone in your network, including donors and grantors. Fund accounting software, such as AccuFund software, can make this a much easier process so you can focus on your organization’s mission-critical tasks.
AccuFund software is available in the Cloud or on-premise, giving nonprofit organizations a choice on their preferred deployment method. The software is intended for both nonprofit and government use and is scalable to fit the needs of any type of organization. AccuFund software provides the simplicity of off-the-shelf solutions; however, it also contains the functionality required to effectively manage the complex GASB and FASB reporting requirements of nonprofit and government organizations.
There is an on-going debate concerning the value of Cloud software versus on-premise software, particularly in the nonprofit industry. While many businesses have started to make the transition to the Cloud, nonprofit organizations have been slower to take hold of this new trend. We have presented numerous webcasts to address this very issue and have explored the differences between fund accounting in the Cloud versus fund accounting using on-premise solutions with many of our clients. We believe that Cloud solutions can certainly be of benefit to your organization; however, before you invest in Cloud fund accounting solutions, you need to take a thorough look at your current system and processes to ensure that the transition makes sense to your particular organization. If you’d like to determine whether or not your organization is ready for the Cloud, read our article “Is the Cloud the Right Fit for Your Nonprofit Accounting Software?”.
If you have done your research and are ready to implement Cloud fund accounting software, we suggest following the below guidelines to make your transition to the Cloud a success:
- Identify your organization’s current processes and communicate those processes with your Cloud software vendor.
- Keep your options open. You may need to change some of your organization’s current processes, especially if you have been operating on inefficient processes. Be open to change and encourage your staff to discuss any challenges your organization has been facing.
- Make a time investment in the project. Moving to the Cloud and implementing the software is going to take a little bit of time and effort. Make sure you have a realistic timetable and are committed to seeing the project through. Set money aside for occasional improvements.
- Sit down with key stakeholders in your organization and formulate a plan for your entire organization, not just your accounting and financial needs.
- Streamline your chart of accounts and automate any manual processes.
- Make sure you have the proper security measures in place. Discuss your security concerns with your software vendor and create an action plan should an unexpected disruption occur.
- Think about the bigger picture. If a certain process is not going to be effective a year from now, change it. Consider how each process will affect your organization in the future.
- Train your staff and volunteers on the new software. We cannot stress this enough. Your software is only as good as it’s users, so make sure your users’ know how to use it effectively.
If you have decided that your nonprofit organization is ready to make the move to the Cloud, AccuFund software’s newest solution, AccuFund Online, can help you make the transition to the Cloud a seamless one. Contact us today to discuss your organization’s Cloud fund accounting needs. We will be more than happy to guide you through the selection and implementation process.