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A unified business management cloud application like NetSuite is essential to uphold vital missions like support for social communities, facilitating awareness programs for global causes and international outreach programs for educational offerings. However, in reality, nonprofits lack innovative products that provide operational efficiency and those that are budget-friendly to fulfill their unique requirements. They are also often found to use countless disjointed external systems, spreadsheets and other manual processes.
Give your nonprofit with planning, budgeting, and forecasting tools it needs to meet its goals while maintaining and growing its finances. With NetSuite, built-in FASB-defined reporting based on unique GL Segments and a template UCOA-approved Chart of Accounts matched to Form 990 line items that you may modify.
ERP programmes offer both real and intangible cost savings, allowing every dollar to go forward towards furthering the purpose of a not-for-profit entity. Funds should be conveniently monitored to ensure that the company follows reporting protocols when managing several funds for various programmes or contracts, as well as to minimise human error and interference in data collection.
With a grant management function, efficiency and time savings will rise to the point that the non-profit will be able to afford to employ a full-time grants manager or grant writer, increasing the likelihood of receiving more grant funds in the future.
In the long run, continuing such practices would impair nonprofit organizations’ fundraising effectiveness and social impact on their local community.
Thriving nonprofit organizations comprehend the effective use of business management solution that increases their ability to focus on their core mission which controls costs and strengthens resources simultaneously. Since they believe bridges between systems improve their efforts, they have progressively invested in new technologies and cloud solutions.
Let’s unfurl the modules present in this unified solution of NetSuite to have complete control over the organization and amplifies your community impact.
Streamline your nonprofit’s finances with a robust business application that supports a nonprofit fiscal management system.
You can accurately manage fund restrictions and grant requirements with NetSuite’s innovator and GAAP-compliant fund accounting framework that lets you manage diverse revenue streams and matches revenue sources to expense transactions. Its powerful business application makes project management efficient.
NetSuite, for nonprofit organizations, offers a framework for auditable and comprehensive fund accounting that allows you to track various income sources and expenses, correlate funds to tagged costs, inventory management, constituent relationship management, and efficiently manage restrictions and grant requirements for your nonprofit. With a simplified Chart of Accounts and embedded GL custom segments, NetSuite’s innovative solution automates FASB compliance. It provides exceptional transparency in cash flow, resource balances, the customer lifecycle, controlled revenue, performance metrics, functional expenses, and grant activity.
NetSuite improvises your productivity and the visibility of the Grant lifecycle. Manage spending across several years, automate time and expense tracking, and track numerous projects and funding with NetSuite’s suite of cloud software.
Automating time and expense tracking among billable and non-billable transactions through many years gives you the upper hand in capturing relevant milestones. This way, the critical information is also present in a single centralized system.
Configurable compliance reporting is available on FASB reports, so those board members, external auditors and Nonprofit accounting teams experience a simplified process.
You no longer have to guess, do manual exports or manipulate data by
Eliminate lengthy, error-prone account code strings by using pre-defined GL custom segments. This allows you to see where funds come from and what they are being used for. Financial segmentation may increase reporting capabilities and analytics while reducing complexity, coordinating fundraising and finance, and clearing clutter from a standard chart of accounts.
A NetSuite account comes with 12 segments to code revenue and expense transactions. With custom segments, funds can be restricted depending on time availability or donors’ intentions; revenue streams can be categorized, functional expense categories can be tracked, funds can be allocated to a particular programme, and more. Ultimately, staff, management, and leadership teams can customize FASB-compliant reporting, dashboards, and role-based KPIs to maximize their investments.
Getting a comprehensive picture of your nonprofit’s performance, on-demand and real-time is a breeze with NetSuite Oracle Cloud. You’ll have deeper insight and better decision-making from FASB compliance reporting to role-based metrics and analytics
NetSuite cloud ERP recommends scorecards that help create a culture of data-driven decision-making.
You may get total visibility and control over every dollar spent by assuring responsibility and protection control
The goal of your charity organization should be to have a worldwide social impact, and managing IT complexity should not take up too much of your resources. To achieve this, NetSuite Cloud: OneWorld comes in handy to expand all your goals at a global level by working anywhere at any time on a unified platform, even with limited resources.
NetSuite is a single solution that can integrate and provide a 360-degree view of every operation within a nonprofit organization.
Learn how ERP Buddies helped a Non-profit organization to transcend ahead in the modern era.
ERP Buddies is a North American NetSuite Cloud ERP Solution Provider (Software Vendor) with diverse experience in implementing ERP systems for multiple companies across wide industry verticals with a true cloud solution.
With offices in the U.S, Canada (North America), Philippines, India (Asia) and UK, Spain (Europe), our experts are accessible globally and make it their priority to create a smooth and positive experience for clients. Our experts assist clients throughout the entire implementation process, with on-site support and consultation, along with additional assistance in customizing your system functionality to guarantee it meets your business needs.