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In a time of rapidly advancing technology and growing reliance on digital solutions, non-profit organizations are using technology solutions to maximize impact and efficiency more quickly.
Sage Intacct’s fifth annual Non-Profit Technology Trends survey asked non-profit finance leaders what trends they see in the sector and how they’re responding to the changing non-profit technology landscape.
This year, nearly 300 non-profit leaders responded to the survey. The majority represented small to midsized non-profit organizations in the United States with less than $24 million in annual revenues.
Survey respondents represented a variety of non-profit causes, including human services, education, community improvement, arts and culture, and healthcare.
Here are three key takeaways from the survey.
Non-profits face several challenges that are out of their control.
Economic uncertainty, inflation, and competition for funding weighed equally in the survey, followed by staffing shortages and increased demand for services.
When comparing non-profit finance leaders’ internal challenges over the last few years, the top five have remained consistent.
When asked about the technology solutions non-profit finance leaders use to support operations
and growth, respondents indicated the most used technology solutions were financial management and accounting software, a donor or customer relationship management (CRM) solution, and a budgeting and planning tool.
When asked specifically about financial management and accounting systems, 48% of respondents said they use QuickBooks.
When discussing internal challenges in the survey, one respondent from a public benefit organization noted their biggest challenge was the “increasing concern of whether QuickBooks can keep up with our needs.”
While entry-level accounting software like QuickBooks can be a good fit for small organizations with simple structures, it wasn’t built for a complex non-profit’s needs—especially in a challenging economic climate.
Non-profit organizations require specialized functionality for accounting, tracking, and reporting. To focus on their missions and fuel growth, they need the right technology.
Sage Intacct is the modern, cloud-native financial management solution that streamlines grant, fund, project, and donor accounting while delivering real-time visibility into the metrics that matter—transforming reporting roadblocks into reporting insights.
It’s also the only solution backed by the American Institute of Certified Public Accountants (AICPA).
When non-profits manage their financials in the cloud with Sage Intacct, they increase efficiencies from day one, enjoy a multi-dimensional, multi-ledger system, and automate processes like multi-entity consolidations.
Sage Intacct provides:
Vision33, a trusted Sage Intacct partner and Sage Platinum Club winner, loves helping non-profit organizations embrace the power of cloud financials.
With hundreds of successful Sage Intacct implementations, Vision33 transforms non-profit accounting frustrations into mission success and strategic growth.
To read more 2024 Non-Profit Technology Trends insights, download your complimentary survey whitepaper below.
