Cloud Fund Accounting: Popularity and Benefits

Cloud Fund AccountingThere’s no denying that the Cloud is getting lots of attention and focus these days. If you are still not sure what the Cloud even is, visit here to learn more. You’ve likely heard all of the buzz about it, but it is important to really understand why the Cloud is becoming so popular and how it is actually beneficial for your organization in terms of fund accounting for your nonprofit. With no hardware and virtually no maintenance, Cloud computing is an ideal solution. This is even more so the case for small organizations who cannot afford to have an IT department as a part of their staff. Let’s take a closer look at how Cloud-based solutions can help you manage your nonprofit accounting tasks and needs.

Why is the Cloud becoming a Popular Choice for Organizations?

Our fast-paced world means it is likely you don’t spend every minute in your office. At the same time, this pace means that no matter where you are, you likely have times when you have a need to instantly access information about operations and finances that pertain to your organization. Technological advancements have meant that it is now possible for nonprofit leaders like you to send emails, check account balances, and view reports anywhere, anytime, and on virtually any device. With a mobile framework quickly becoming the norm, there is also an increasing need to have instant access to fund accounting information and other vital statistics at any time. The Cloud allows organizations to have this flexibility of instant access of data from any device for any constituent that is needed today.

If you’ve ever been the only one in a meeting without access to this, you know how it feels. If this has happened to someone you know, they are likely to confirm that easy and instant access to data is essential. Recent study findings confirm this explosion of recognition that the Cloud is necessary, and many organizations are already in the midst of or already have implemented Cloud solutions. It is believed that approximately 13% of organizations already successfully use this technology, 21% are in the process of implementation, and over 90% say they plan to use the Cloud in some capacity within the next couple years.

What are the Benefits of Cloud Nonprofit Accounting Software?

Unlike many trends that don’t stick around, Cloud computing has proved itself and is a reliable solution. This is good news because accounting records MUST be reliable. With this in mind, here are some of the benefits of pairing the Cloud with accounting software:

  • Instant access to and full visibility of information (reports, data, statements, etc.)
  • Anywhere access to the information you need- all you need is an internet connection
  • Improved and real-time performance that may not be possible with on-premise solutions- these help you keep up with changing demands in financial strategy
  • Customization is easy so your organizations can build a solution strategically to meet your unique needs
  • Reduced cost- pay for only what you need which can be scaled up or down depending on your use of the Cloud
  • No extras needed- Cloud solutions do not require extra hardware or other costly technology items

Hopefully you are starting to see just how beneficial the Cloud could be for your nonprofit. If you are wondering about which reliable software can help you to transition to the Cloud to gain new capabilities while ensuring that you don’t compromise in having a robust nonprofit accounting solution, consider two great options that RBP Methods has to offer. AccuFund Software Online is a nonprofit accounting Cloud solution that provides easy functioning capabilities while supporting your organization’s financial management requirements. Abila Nonprofit Online Suite is a complete Cloud-based nonprofit solution that helps you manage financials, grants, fundraising, and CRM in one solution.

Reminder: It’s your last chance! Don’t forget to join us for our nonprofit outcome measures and metrics webinar on Wednesday, November 12, 2014. You can register and find out more here.