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.

Reporting

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.

Are you tired of the manual process associated with managing your accounts receivable process? Would you like better visibility into the collections process across departments, so you can better predict cash flow? Modern accounts receivable solutions have these top 7 features that can help you improve your collection process and metrics:

Today's nonprofit world is characterized by greater competition for funding and increased scrutiny of your impact. This is sometimes due to fraud or poor performance of just a few nonprofits, which affect the whole.

Whatever the case, this represents an opportunity for your nonprofit to be transparent, to demonstrate accountability and to strengthen your reputation with funders and the community. And one way to do so is for your financials to be "audit ready" so that you can prove financial health and how you are investing funds in your mission, even if you are not audited.

How can you be audit-ready in a way that enables your nonprofit but doesn't hurt your Return on Mission? Investing in the right nonprofit accounting software is central to the answer.

By Marty Schillaci, CEO of The Resource Group

As the CEO of The Resource Group, I’ve done a lot of research on the future of enterprise resource planning (ERP). Needless to say, I’ve learned some interesting things.

By Marty Schillaci, CEO of The Resource Group

Since I started The Resource Group in 1988, I have seen four major changes in enterprise resource planning (ERP) software, which has caused clients to change their solutions.