Nonprofits – Become Resilient with Sage Intacct Accounting
The Covid-19 pandemic has been an eye-opening experience for countless reasons. For organizations, it has forced them to rethink everything they do and, in many cases, rewrite expectations for the short and long term. These sudden and sizable shifts have been especially extreme in the nonprofit sector.
Why? Because in times of uncertainty, giving becomes less of a priority for individuals and institutions alike. Yet at the same time, demand for the support services that nonprofits provide spikes when people are dealing with economic hardships and unexpected setbacks. Over the past two years, many nonprofits have had to do more with less – all while adapting to unprecedented circumstances.
Despite the challenges, nonprofits of all kinds have achieved incredible things throughout the pandemic, both in terms of their impact and their performance.
Taking the Pulse of Nonprofits
A recent survey of 900 nonprofit leaders confirms as much. Some of the standout statistics include:
- 44% of nonprofits saw increasing revenue in 2021, and 34% of those gained 25% or more.
- Only 13% of nonprofits forecast decreasing revenues in 2022.
- Over 30% of nonprofits say personal and corporate giving have both bounced back.
But the numbers are not entirely optimistic, either:
- 70% remain uncertain about in-person events.
- The majority (51%) continue to experience program disruptions.
- As many as 34% are struggling with increased demand for services.
What’s clear is that things have yet to return to normal for nonprofits. Rather than waiting for that day to come, however, mission-driven organizations should learn the lessons of the recent past and make themselves more resilient for the future. That will be a major and ongoing effort, but there’s an obvious place to start: accounting.
Resiliency Through Financial Fitness and Accounting Agility
Nonprofits need to manage money effectively both to fulfill their mission and to keep their doors open. The pandemic underscored the need for careful (sometimes creative) accounting, along with keen financial insights and planning. It also amplified the need for accounting tools and data that can travel outside the office to wherever financial decision makers are working from.
Sage Intacct helped numerous nonprofits make it through the pandemic, and it’s helping many more adapt to whatever the post-pandemic world looks like. As a financial management platform, Sage Intacct offers a comprehensive toolkit to handle everything accountants need and want to do, often requiring significantly less time, input, and frustration than it did before.
Unlike other mature accounting solutions, however, Sage Intacct has features, reports, and visualizations built specifically for nonprofits. Replacing the current (often underwhelming) accounting solution with one that makes world-class financial tools accessible and affordable to nonprofits keeps their financial foundation secure in the midst of anything. Moreso, smart money management helps those same nonprofits make whatever changes their clients or funders expect in coming years. Any nonprofit can adapt, survive, and thrive – provided they have the tools to keep accounting on course.
Sage Intacct provides those tools like no other offering on the market. See what they look like in action by joining our upcoming webinar about Sage Intacct and nonprofits on April 5th. Reserve your free spot here.
