In Part I, we discussed more and more not-for-profit organizations are looking to upgrade their accounting software. We also discussed the accounting software solution that these organizations are increasingly turning to is Intacct. But, why is that? Why is Intacct the financial accounting software or ERP software solution of choice for most not-for-profits today?
The reasons why non-profits are increasingly turning to Intacct are many, but there are seven reasons in particular that stand out. We listed five of these in Part I of this Blog. These reasons, in reverse order, are as follows:
#7 – Ease of Use
#6 – Accounting Controls
#5 – Ease of Integration
#4 – Workflow
#3 – Dimensional Reporting
In this continuation, let’s delve into the top two reasons why Intacct is the solution of choice for not-for-profits.
Reason #2 – Real-time Reporting (Dashboards)
Most not-for-profit organizations painstakingly prepare financial reports on either a monthly or a quarterly basis for their boards. They may even provide their managers and directors with monthly reports comparing their actual revenues and expenses against their budgets. Historically, that has been more than sufficient for most not-for-profits. However, it isn’t necessarily the case anymore.
The fact of the matter is that, with today’s increasingly tight budgets, not-for-profits need to monitor expenses and manage against budgets much more closely than in the past. That’s where Intacct shines. Intacct’s reports and dashboards can easily be configured to provide you and your key stakeholders with real-time visibility into information they need to be more effective. Whether it’s key performance metrics or financial reports that show them where they stand against their budget, Intacct puts information literally at the fingertips of your managers and directors. All they need is an internet enabled device (e.g. tablet, smartphone or computer) and they can have instant access to the information they need. Better yet, they even have the ability to drill down to the originating transactions and source documents, if needed, to find out why they are over budget, for example.
Real-time reporting and dashboards changes the game for most not-for-profits. With Intacct, the ability to truly hold your managers and directors accountable to their budgets finally becomes a reality.
Reason #1 – True Cloud
The #1 reason why not-for-profit organizations are increasingly selecting Intacct is that, unlike most of their competitors who say they are in the cloud, Intacct is a true cloud application. What does that mean? It means the following:
- It works with pretty much any browser and any internet enabled device. Hence, your information is truly available to you from any place at any time on any device.
- It is a true multi-tenant application. This means that everyone is running on the same, most current version of the software. No longer do you need to worry about falling behind on your version. No longer do you need to worry about the cost of upgrades. When new versions are released, you immediately have them with no interruptions.
- Faster innovation. Because Intacct is a multi-tenant application and everyone is on the same version of the software, they can innovate and add new functionality much more quickly than their competitors. They do not need to worry, for example, about maintaining multiple versions of the software.
- More Focused Innovation. Many of Intacct’s competitors are spending most of their R&D dollars on moving their applications to the cloud. Intacct is already there. Hence, they spend most of their R&D dollars on new features and technology.
Cloud computing is a huge advantage for not-for-profits. It gets you out of the IT business and allows you to focus on your mission. In addition, it’s easier to budget for because you know exactly what it is going to cost you. There are no hidden costs for upgrades or new servers, etc. As a true cloud application, Intacct positions you to truly leverage unsurpassed and on-going innovation.
In this Blog, we talked about the seven key reasons why Not-for-Profits are increasing choosing Intacct when it comes time to replace their accounting and ERP systems. To learn more about Intacct or Maner Costerisan, please visit our website at www.manersolutions.com.
Maner Costerisan specializes in helping not-for-profit organizations move to the cloud with Office 365 and Intacct, the leading cloud-based financial accounting software solution for associations and other not-for-profits. Vision, speed and accuracy are the keys to organizational success. Maner Costerisan understands these principles and has provided them to clients for over 100 years. As a CPA firm, we understand the importance of customer service. We are a professional services firm first and foremost and our focus is on the well-being and business success of our clients. With a highly satisfied client base of over 175 software clients, Maner Costerisan is the premiere mid-Michigan provider of financial accounting and ERP software solutions.