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Erp for nonprofits
1. ERP for Nonprofits
With
March 20, 2013
4:30 PM ET
by Josh Bailey
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
2. Today’s Agenda
Challenges for nonprofits
How Intacct can help
Case Study
Who is e2b teknologies
Contact Info
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
4. Nonprofit Challenges
Less budget
Less IT resources
Operational issues such as cash
management
Providing team with financial visibility
Helping your organization stick to its
budget
Strict requirements
Managing expectations from donors
and board members
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
5. How Does Intacct Help?
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
6. Deep Financial Management
Deep project
accounting
Flexible
budgeting and
planning
Real-time
reporting and
dashboards
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
7. Workflow and Approval Processes
Flexible workflow
Simplifies approval processes
Approve electronically
No more delivering paper
checks
Big time saver
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
8. Reporting
Supports key regulatory reporting requirements
Makes it easy to comply with specific state and local reporting needs
Helps to improve cash flow management and expense forecasting
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
9. Case Study:
63 year old fee-for-service NFP
Accounting wise - book publisher/seller and
professional development provider
Transactions: 375+ titles, 1,000 professional
development sessions, 10,000 event participants
annually, 15,000 orders
11 year old legacy accounting
system
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
10. Why was Great Books Foundation attracted to
Cloud Computing?
Aligned with mission
Overhead
Virtual organization
Adaptable to GBF business model
Added to GBF business model
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
11. How has Great Books Foundation adopted
Cloud Computing?
Selected Intacct for financials
Allows seamless integration across systems and
business processes
2-way API to warehouses
API to e-store
Integrated with credit card processing
Integrated with CRM
Scanning & attaching documents
Added job cost code to AP
Email invoices to customers
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
12. Conclusion: Very pleased
Cloud computing and Intacct made their sixth system
conversion much easier than the previous five
More time analyzing and drilling down on operations and
less time gathering data and preparing financials
Management likes that they can see a real-time
connection between transactional
data and the financial statements
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
13. We also…
We also develop other business to business solutions for the cloud and resell
ERP software. Some of our applications include:
And More!
e2b teknologies | 521 fifth avenue | chardon, oh 44024 | 440.352.4700 | www.e2btek.com
So for today’s agenda, we’re going to begin with covering some of the challenges that nonprofit organizations face, that make them unique. Then were going to talk about the solutions that Intacct provides to nonprofits and cover some of Intacct’s capabilities and functionality. We’ll finish with a case study from a nonprofit who decided to choose Intacct for their financial software. And close with a little background on who we are, and I’ll give you my contact info.
So, let’s get into it. There are several types of nonprofit organizations, or NPOs. Some examples of NPOs might include, charities, foundations, trade organizations, arts and humanities, environmental groups, education organizations, religious organizations, and plenty more. Without the drive to generate extra profit, managing finances and budgeting becomes a huge challenge for these organizations.
Running finances for a nonprofit organization is a tremendous challenge. Your accounting needs are more challenging than for-profit businesses, but your resources are scarce. You have less budget. You have little to no IT resources. And, your first focus needs to be on your mission, not managing and maintaining software.You’ve got day to day operational issues, including managing cash, providing your management team with financial visibility, and helping your organization stick to its budget. But you’ve also got unique challenges — from dealing with strict requirements to ensure you account-for and report-on sources and uses of funds, to managing the expectations of major donors and your board.
Intacct helps leading nonprofits of all types – including charities, trade and membership associations, cultural institutions, charter schools, and faith based organizations. One of the biggest benefits of using Intacct for nonprofit financial management is its ability to automate fund, grant, member, and project accounting needs, which on average reduces the time required to manage fund accounting by more than 90% - increasing finance department productivity by 25% or more.
Intacct is a web-based cloud solution, but that doesn’t mean that it’s light-weight. Intacct’s award-winning solutions feature robust fund accounting, deep project accounting, flexible budgeting and planning, and real-time reporting and dashboards. Many nonprofits take advantage of Intacct’s built-in expense management, time, billing and purchasing applications to engage both employees and volunteers in their financial processes. For nonprofits with multiple locations or multiple operating entities, Intacct features multi-entity and financial consolidation capabilities. For nonprofits that rely on sales, events or dues to generate revenue, Intacct offers automated and accelerated billing and collections capabilities and strong revenue management and revenue recognition.
Nonprofits also benefit from Intacct’s flexible workflow and approval processes. You simply define levels of approvers for various sized transactions, and the system will automatically route any associated documents to the correct individuals for their approval, notifying them by email they need to log in to the system to take action. This is an enormous time saver for organizations that need to have outside directors approve payments — no more delivering paper checks for signature. With Intacct, your approvers simply log into the system, review the documents and approve electronically.
Now, let’s talk about reporting. Intacct includes a large library of built-in financial reports and it supports key regulatory reporting requirements, such as FASB 117. Also, Intacct’s flexible financial reporting tools make it easy to comply with very specific state and local reporting needs – such as the financial reporting challenges imposed upon charter schools by local municipalities. This deep visibility into your organization’s financial information will help you improve your cash flow management and expense forecasting by providing visibility into current and projected inflows, outflows and funding streams.Plus, since Intacct is available on the cloud, the anywhere, anytime access to the system means that any of your stakeholders can securely view real-time reports and dashboards at the time and location of their choosing.