Benefits of Cloud Accounting for Nonprofits

Cloud accounting is a tool for nonprofits to take advantage of as you pursue the vision and mission of your organization. Cloud accounting can help by streamlining processes and making information readily available to your users.

Nonprofit businesses are finding new ways to engage their clients in a digital economy and new ways to engage their employees to increase productivity and employee satisfaction. Employees today expect a mobile enabled work environment to connect with their digital savvy customers. Take a look at some of the many benefits of cloud computing for nonprofits. 

  • Utilizing cloud storage saves time and money enabling you to grow as fast as your business without leaving you with the expense of equipment and staff in a downturn season.
  • Centralized access to data and reports means more efficient processes, easier telecommuting and less time wasted waiting for information stored on an individual’s hard drive
  • Ever changing technology mandates a sizable budget towards upgrades and repairs which can be avoided with cloud computing services
  • No more concerns about storage space or capacity with almost unlimited amounts available on the cloud
  • Rest assured that your data is backed on the cloud.
  • Additionally your service provider will be skilled enough to handle recovery of information
  • Handpick the services that you need and don’t worry about software integration as this generally occurs automatically on the cloud.
  • No waiting! Cloud Accounting offers quick deployment once you decide to move in this direction.

Benefits aside there are still rainy day risks involved with cloud driven solutions. Confidentiality and security among the top two. In order to mitigate the risks be sure to do your due diligence when selecting a service provider. Confirm they use security software including virus and hacker protection. In addition hesitation may come from fear of change to well-known processes. Remember vision leaks. Communicate the benefits of the transition to the team – specifically time saving benefits such as fewer hours spent commuting to the office to obtain files that will be made available at the touch of a button. As you adopt cloud accounting technology it is important to be sure that you look at how your business processes and technologies work together to ensure optimal results for your nonprofit. Contact us to learn more.