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Sage Intacct: The #1 Cloud Financial System Helping Leading Nonprofits

Sage Intacct is a powerful, born-in-the-cloud financial management platform that integrates with other best-of-breed solutions and makes it easy to share data. With its modern user interface, Intacct is a flexible, customizable accounting software solution that empowers your mission fulfillment through advanced core financials and focused industry features.

Sage Intacct offers unmatched visibility and automation for nonprofits, even across multiple entities. Intacct powers thousands of nonprofit organizations, including:

  • Nonprofit member associations
  • Nonprofit healthcare and behavioral health organizations
  • International nonprofits and NGOs
  • Human services organizations
  • Foundations and philanthropic charities
  • Faith-based organizations and Catholic Dioceses
  • Environmental and animal-related nonprofits
  • Community improvement nonprofits
  • Arts, culture, and humanities nonprofits
  • Educational nonprofits

Businesses run over 1.5 million projects on Sage Intacct. With data integrated across your organization delivering improved reporting, insights, efficiency, and unparalleled nonprofit financial management, Intacct is ranked #1 in customer satisfaction by independent user reviews.

 

 

 

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When your organization depends on its ability to demonstrate the impact of donations and funding, your financial management tools significantly affect your mission success. Sage Intacct streamlines grant, fund, project, and donor accounting, delivers real-time visibility into critical metrics, and provides detailed insights that empower your team on your mission. Using its modern platform, nonprofits have the connectivity, visibility, and efficiency to maximize impact and enable strategic growth.

Nonprofits that adopt Intacct’s powerful financial management platform gain the visibility, automation, and agility to grow their impact in a complex and dynamic environment. Combining data from across the entire organization, Intacct ensures you know how you’re performing so you can stay ahead of the curve while delivering results for your stakeholders.

Sage Intacct offers seamless accounting for nonprofit organizations by integrating and automating critical functions, including:

  • Financial reporting and dashboards
  • Organizational and compliance reporting
  • Accounting processes
  • Procurement
  • Month-end close
  • Consolidations
  • Allocations
  • Grant management
  • Time and expenses
  • Project management
  • Data from third-party apps

sage-intacct-challenges-nonprofits

 

Four Critical Challenges for Nonprofit Organizations

Your accounting software should provide a complete picture of your business. However, getting that picture is difficult when you use multiple software tools, like a CRM or project management systems. You need the ability to choose the best-in-class solutions that fit your nonprofit and seamlessly integrate them with your ERP.

Your financial management system must offer real-time data, visibility, and insights so decision-makers can get fast answers to critical questions and make informed decisions. Your financial reporting needs are constantly evolving, and stakeholders want different metrics at different times. Grant and funding requirements shift with the competitive landscape. As your business changes, so will the metrics and insights that matter for growth.

Knowing what to improve and where to invest requires agile, flexible software that can quickly slice and dice details, dive deep with custom reports or dashboards, and seamlessly connect data from across your business.

Multiple systems and processes, changing requirements, and manual consolidations result in long timeframes for closes, financial reporting, and operational analysis. Manual compliance, grant, and contract reporting are time-consuming and delay results and billing. Without the right software, it’s difficult to automate and streamline accounting and financial processes, and by the time reports are completed, they’re already out of date. You don’t have access to real-time information, so your finance team is always in the weeds with Excel files and deadlines.

Time is a critical resource for nonprofit organizations, and a more efficient financial management platform means you can focus on accomplishing your mission, not endless spreadsheets.

With traditional accounting systems, access to organizational insights is determined by hard-coded individual accounts. To track new dimensional values (e.g., location, department, project, and service), you must create new accounts, which is time-consuming and inflexible. Your software should allow you to easily add and change dimensions to give your data context.

You need to analyze real-time performance from every angle without managing a complex chart of accounts. It’s a significant advantage for nonprofits to have a financial platform that facilitates budgeting by user-defined dimensions instead of general ledger (GL). Your accounting software should enable you to create reports in real-time, formatted exactly how you need them.

If you need to add dimensional information to your operational data, budgets, or transactions, your accounting solution must make it easy to add, change, or track performance drivers for fast answers to important questions.

Basic accounting software can’t manage finances for multiple entities. When you have separate software for each entity (e.g., regions, countries, project teams, and global currencies), consolidation becomes more manual, time-intensive, and error-prone as your organization gets more complex. It’s not effective or scalable, creating a ceiling on your growth.

Managing your finances with multiple QuickBooks or FreshBooks accounts, spreadsheets, and manual effort is unsustainable. Your financial platform should automate tasks like currency conversion, inter-entity transactions, and local tax reporting so your finance team can close the books faster every month. The right software delivers continuous consolidation, providing access to real-time organizational data and the power to drill down to a single entity or transaction, then seamlessly click back to your consolidated view.

Without a solution designed for multi-entity nonprofits, the challenges of multi-entity financial management and global consolidations will hamper your impact and growth. But with a platform that meets your needs, you can shrink your monthly close time by 40-80%.

The Benefits of Sage Intacct for Nonprofit Organizations

Sage Intacct specializes in cloud-based financial management with workflow automation and native third-party integrations designed to meet nonprofit organizations’ needs. Intacct’s born-in-the-cloud accounting software ensures mission success and maximum impact for savvy nonprofits, including:

  • Member associations
  • International nonprofits and NGOs
  • Foundations
  • Philanthropic charities
  • Faith-based organizations
  • Nonprofits specializing in healthcare, human services, environmental and animal-related causes, community improvement, education, arts, culture, and more

Combining smooth operational workflows with greater financial visibility, Sage Intacct connects your nonprofit’s operations on a single, efficient platform that scales with your growth.

With this true cloud platform, growing nonprofit organizations can:

Centralize data across organizational apps: Seamlessly connect your CRM system, industry tools, or other software applications to your Intacct platform for a single, integrated system.

Track project finances: Break budgets down by any metric (e.g., project, phase, task, and resource). Compare actual project budget to planned budget and monitor real-time project progress and financials.

Optimize resources: Get instant visibility into KPIs, revenue, and daily operations. Use improved insights and real-time dashboard reporting to make strategic decisions about allocating time and resources.

Adapt faster: Get fast answers to crucial performance questions and respond to changing environments with agility. Reports that took months to complete are now available in minutes.

Streamline operations: Eliminate manual accounting tasks with automated workflows, real-time dashboards, and focused nonprofit sector functionality.

Automate consolidations: Shave days or weeks off your monthly close time with multi-entity management. Never wait for month-end to get up-to-date, consolidated financial information.

Maximize impact: Use dimensional accounting to track and filter metrics. Slice and dice data to identify your impact by multiple dimensions (e.g., project, department, client, and service type). Operate more efficiently and stay focused on the value-add priorities that drive mission fulfillment.

Features of Sage Intacct for Nonprofit Organizations

Sage Intacct offers industry-leading core financials, user-friendly reporting and dashboards, and advanced functionality tailor-made for nonprofits. Intacct’s cloud-based platform revolves around a high-powered general ledger with dimension-level tracking for all your transactions, giving you expanded reporting powers while simultaneously shrinking your total number of GL accounts.


By automating tasks related to grant, fund, project, and donor accounting, Sage Intacct empowers your finance team to do more strategizing and less paperwork.

Sage Intacct’s features include:

Powerful core financials

Intacct is an industry-leading platform for streamlining and automating core financials, including accounts payable, accounts receivable, cash management, and general ledger.

Real-time dashboards & reporting

Sage Intacct's innovative general ledger includes 10 pre-defined dimensions to capture the context of your data. User-defined dimensions are easy to add, so you can quickly access or create reports analyzing real-time performance without managing a complex chart of accounts.

Fund accounting

Sage Intacct fund accounting creates separate closes for each revenue source, plus a regular series of specific reports – each with its own requirements – for every funder.

Revenue recognition

Save time, minimize errors, and simplify audits with automation, consistency, and centralization. Manage conditional contributions and grants based on milestones, event-based recognition, and installment-based transactions across year-end with automated revenue recognition schedules.

Multi-entity and global consolidations

Consolidate hundreds of entities in minutes. Close your books faster by automating financial consolidation accounting activities, including currency conversions, inter-entity transactions, and local tax reporting. View interim summary figures with financial statements that are ready whenever you are.

Dimensions

Dimensions creates a flexible foundation that offers a new way to track and report on financial and operational data while simplifying your chart of accounts. Integrated directly into Sage Intacct’s easy-to-use financial report writer, Dimensions improves your reporting and enables fast answers to critical questions.

Dynamic allocations

Use automated allocations to understand your organization’s true performance and gain more time for oversight, analysis, and strategy. Get a rock-solid audit trail with Intacct’s built-in transparency.

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Let's Discuss Your Business Challenges

Want to discuss your organizational growth challenges and which solutions will help you reach the next milestone in your mission? Vision33 provides the right balance of software and consulting to maximize nonprofit organizations’ investment in transformative enterprise technologies. Speak with a certified Vision33 consultant today about your financial management needs.

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