8 Cloud Accounting Benefits for Today’s Faith-Based Organizations

Are you a dynamic faith-based organization? Are you exploring cloud accounting benefits for more comprehensive, data-driven financial management?

The reality is, today’s not-for-profit organizations do not have the luxury of a large IT budget. Yet, they require a financial management system that provides depth of functionality, support for fund accounting and overall flexibility and automation. Faith-based organizations realize there is no budget, and even less time, in growing, managing and maintaining a robust IT hardware infrastructure on which to run advanced accounting software.

  • Are you ready to answer financial questions across all entities – schools, funds, charities?

  • Do you struggle to consolidate information?

  • Do you have difficulty performing real-time analysis on financial and operational data?

  • Are you GAAP compliant and audit ready?

  • Are you looking for greater transparency and visibility into financial data?

  • Do you need to integrate financial management with existing business applications?

  • Are you limited by the functionality of QuickBooks?

Better stewardship results in greater impact.

Whether you’re running mission trips around the world or supporting a multi-campus ministry, churches and faith-based organizations are constantly striving to ensure the best support for their members and community while strengthening accountability and stewardship.

  1. Gaining real-time operational and financial visibility.

  2. Breaking through financial and regulatory reporting.

  3. Appropriately stewarding funds – grants, endowments and donations.

  4. Accelerating billing and collections.

  5. Automating revenue management.

  6. Connecting multiple entities – even globally.

  7. Integrating financial management with other critical operational applications.

  8. Focusing on the core mission – not IT.

Very few CFOs of faith-based organizations place a great deal of value in growing and managing a large information technology organization and in purchasing, operating and maintaining financial software and the hardware and infrastructure required to run it. Cloud accounting promises a far lower total cost of ownership, freeing precious cash and allowing teams to focus on critical missions and the care of members, not on running software.

Cloud accounting today provides a multidimensional, multi-ledger system that allows faith-based organizations to easily capture granular financial and operational data.

Remember, the more quickly and accurately you generate invoices from dues, orders, subscriptions, events or other revenue sources, the faster you get paid. Revenue management can be complex for faith-based organizations that bill members on a different time schedule. From church management to donor management to payroll, integration with key systems will save time and money.

This content was originally posted here.

[ Published: September 14, 2017 ]