Why nonprofits are moving financial management to the cloud At a minimum, a modern accounting system should automate and streamline core financial management functions such as Accounts Receivable, Accounts Payable, and Financial Close. But you can hardly fuel your growth and need for accountability and transparency by simply automating the minimum. Nonprofits have accounting, tracking,…
When the COVID-19 pandemic hit, many nonprofit organizations experienced an urgent need to undergo rapid digital transformation. Cloud business systems helped staff stay productive while they worked from home under government stay-at-home orders. More than a year later, it is clear many of the pandemic’s effects on the way we work and utilize technology will…
The events of 2020 and 2021 have heightened awareness of the need for more and better risk management in the nonprofit sector. Enterprise risk management (ERM) is a long-term investment that improves an organization’s financial strength, operational efficiency, program effectiveness, and resilience during uncertain times. Sponsored by GRF CPAs & Advisors, Getting Started with Enterprise…
Closing the books for many organizations is an exercise in stamina and endurance. For nearly 60%, the close process takes over a week, delaying access to reliable information vital to business direction. To better understand the close process and help you find ways to accelerate your time to actionable insights, we at Sage Intacct run…
The challenge of integrating a growing stable of SaaS applications along with legacy on premises software will be daunting for the next several years. Choosing flexible core applications will be paramount as organizations cope with an unprecedented pace of business change that will stress legacy software. Consider choosing one application to be the integration point…
Corporate accounting has long been viewed as custodian and curator of financial data. However, whether it’s bringing the data together or distributing the financial results broadly, the financial consolidation process has long been an onerous drudgery of information assembly, validation, and reporting. The consolidation process for many corporate accounting groups is sometimes measured in months,…
Over the next 10 years, technology will do more to change the finance and accounting organization than it has over the past 50. A spate of advances in databases, data processing, analytics and tools addressing the user experience as well as the application of artificial intelligence will free up much of the time now required…
As a nonprofit finance leader, you must be a good steward of the public trust. You are responsible for ensuring the resources of your organization are well protected and used efficiently for the organization to fulfill its mission. Nonprofit digital finance transformation uses technologies like cloud computing, open API integration, analytics, and data visualizations to…
Today’s CFO needs to work closely with the controller to ensure that, one, the organization gets the full benefit of the controller’s talents and knowledge and, two, the controller’s office is operating at the highest levels of efficiency and accuracy. Learn about the five questions you should ask your controller to initiate a conversation around…
Digital transformation means that organizations must be proactive about their cybersecurity. Not only are there more ways to be attacked than ever before, but cybersecurity breaches are also constantly changing and hackers are becoming more sophisticated. Without proper cybersecurity, the organization’s critical activities are at risk and the potential for reputational damage is real. Successful…