Is your Finance team getting exhausted from being the go-to source for all data needs in your organization?
If your nonprofit is like most, your finance team is routinely tapped to provide a range of statistics, cost analysis, and performance metrics that are not always easy to arrive at. The team can spend uncounted hours pulling numbers, assembling data, and developing reports for a wide audience of stakeholders, from executives and board members, to key funders and even the media.
It can be easy to overwhelm a finance team with these myriad requests, even as they try to balance these data demands with running day to day financial operations. This data hunting syndrome can often be a symptom of an organization that is using outdated or limited accounting software.
Today’s modern cloud fund accounting systems are designed to streamline day to day operations on a variety of fronts. But one of the best benefits of modern real fund accounting systems such as Blackbaud’s Financial Edge NXT is that its provides “view only” licenses for many users at a fraction of the cost of a full user license, that grants self serving reporting functionality to a wider variety of organizational users while maintaining transactional access control.
These reports only licenses can help finance directors focus on the most important tasks instead of fetching data for such a wide variety of stakeholders.
In addition, access to sophisticated integrated graphic views or Dashboard Technology, such as that available in Blackbaud’s Financial Edge NXT, can be configured to let a wide variety of audiences easily review the data that has been identified to matter most to the organization – the KPIs of its mission and goals— at a glance, leaving the finance team to focus on other priorities.
This distributed access to organizational data helps your finance team curtail the mere digging for data, and allows an array of organizational decision makers to more deeply understand where the program stands at a glance. Ultimately self serve reporting tools let more leaders take ownership of results and let your finance team focus on recommending stronger investments, projecting growth, performing risk analysis, and applying their expertise to impactful program decisions.