Sage Intacct recently conducted a survey of nonprofit financial professionals, spanning small to large organizations with both single and multiple entities across a wide range of industries. Below is what your peers shared with us as their biggest pain points as part of the survey, as well as how to overcome them.
Biggest Nonprofit Pain Points
Below are the top 5.
Nonprofit survey respondents said the #1 biggest pain point is that reporting is manual and time consuming, which causes the following problems:
- Delayed reporting
- Error prone spreadsheets
- Lost time and inefficiency: especially for multi-entities that need to be rolled up
The survey also revealed that over 20% of respondents spend >40 hours per month consolidating data into Excel, and over 45% spend at least 25 hours.