Most nonprofit organizations need an accounting solution of some kind. However, what you may not realize about nonprofit accounting software is that it is now available in the cloud!
Not only can this help you stay organized, but it also allows you to create detailed reports and budget more accurately for the coming years.
Reasons to Invest in Cloud-Based Fund Accounting Software
Cloud computing is one software trend that isn’t going anywhere. It allows organizations to store, manage, and process data without a local server/personal computer, making it incredibly useful and adaptable.
Here are 5 reasons your nonprofit needs cloud-based accounting software and how it can benefit your overall goals and mission.
1. Environmentally Friendly
Cloud-based software is healthy for the environment. No more wasting energy hosting servers and computers as it’s all done virtually. According to a 2013 article on Forbes, a Google-funded study found that if common software programs were moved to the cloud, enough electricity would be saved to power Los Angeles for 12 months – equaling an energy cut of 87%. Not only is electricity saved, but cloud computing also cuts down on wasteful space and curbs carbon emissions.
2. On-The-Go Access
Nowadays, it’s important to be able to access information on the go through mobile and tablet devices, and laptops. Because cloud-based software is virtually hosted, it can be taken with you and accessed wherever you are. You can spend more time fundraising and preparing reports knowing that you have access to your financial data at your fingertips.
3. Save Money
Nonprofit accounting software is an investment and can be a pricey one at that. Cloud-based accounting software provides a less expensive option to nonprofits that need something more budget-friendly. And not only are you saving on the software, but you’re also saving on resources as you’ll no longer need an entire IT team or the energy to support an in-house software database.
Cloud security, despite what you may think, is actually pretty safe. Most cloud-based systems use secure encrypted connections or Virtual Private Network (VPN) connections to protect data online. The databases are also monitored and stored in hardened and secure environments, similar to what banks use, preventing hacking and corruption.
5. User Friendly Experience
Lastly, your nonprofit accounting software should work for you – and make it easy for you to update, create reports and share with other users. Cloud-based software is user-friendly, with quick and easy training to help you increase your fundraising and grant management needs.
Learn More About Cloud-Based Fund Accounting Software for Nonprofits
Capital Business Solutions offers cloud-based fund accounting software solutions to nonprofit organizations, both public and private. Speak with a consultant today at (888) 249-6008 or fill out the contact form below to learn more.