Winning Back-Office Strategies to Boost Your Business Agility
VIEWpoint Issue 1 | 2023
2023 Compliance Trends: Staying Ahead in an Evolving Regulatory E...
In the mission-driven nonprofit world, accounting and financial management can sometimes slip down the priority list. It’s not always easy to allocate budget dollars to back-office infrastructure that doesn’t directly support the nonprofit agenda, and it’s even harder to find the time and expertise to make it all work. Consider some of the obstacles:
These issues aren’t part of most nonprofit organizations’ core competencies. That’s why many nonprofits are increasingly turning to new-generation cloud-based solutions to automate financial management. Cloud-based financials enable the application vendor to deliver shared, scalable services that nonprofit agencies can access over the Internet using a web browser or mobile device. There’s no need to buy, own, license, understand, manage or control the underlying hardware, software or data/networking infrastructure that supports the financial infrastructure. Cloud services are typically delivered on a term-based subscription basis, eliminating the need for upfront software licensing fees or major purchases of hardware. The result is cost-effective, anytime, anywhere managed access.
While the urge may be to invest in programs rather than technology, it may be wise to calculate how a modest investment in technology can transform operations and ultimately help better manage programs. Cloud technology is much easier to implement than legacy systems of the past, and quickly delivers a return on investment.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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