Supporting Social Impact for Non-Profits with Best-in-Class Financial Software

Navigating change and satisfying multiple stakeholders are consistently two of the biggest challenges our non-profit clients tell us they are facing. These ongoing demands coupled with the uncertainty, increased demand for services and fluctuating resources that have accompanied the pandemic, have caused this past 18 months to be amongst the most demanding in recent memory for CFOs, Finance Directors and other finance leaders in not-for-profit organisations.

 

Whether your organisation’s mission is to support your local area in a very specific way or to empower a global cause, as this pace of change continues, if you are relying on outdated system infrastructure you may struggle to satisfy the many expectations from all directions.

 

Non-profits need a flexible business system that will enable them to continuously meet the evolving needs of their stakeholders. One of our non-profit clients – Derby County Community Trust – is a great example of an organisation where, as the demands on financial administration presented by operating in the not-for-profit sector became more complex, the challenges and limitations of the legacy Enterprise Resource Planning (ERP) software that the Trust used – Chorus ERP – needed to be addressed to allow the Trust to fulfil its ambitions. We spoke to their Finance Manager Debbie Hewkin recently, and she explained,

“We definitely needed something new that was more efficient and flexible to our requirements. The manual, paper-based processes were hindering our Finance Team in delivering the accuracy in reporting that is essential for a complex non-profit organisation like Derby County Community Trust. We were looking for a system that would give us proper visibility of the position of any and all of our programmes when we needed it.”

 

For customers where Eureka Solutions has implemented Oracle NetSuite – and these include The Challenge Network, Kiltwalk, GS1, Real Life Options, Cruse Bereavement, St Andrews Links Trust, Scottish Association for Marine Science and, of course, Derby County Community Trust – the wins are as diverse as the organisations themselves, but common ones are:

  • Greater visibility and accountability with automated, streamlined accounting and other processes.
  • A 360-degree view of clients, donors, volunteers and customers.
  • Real-time visibility into budgets vs. actuals for improved decision making.
  • Valuable resources freed up, thanks to elimination of manual processes.
  • Eliminated manual processes and free up valuable resources.
  • Reduced ongoing IT costs.
  • Automatic updates delivered to all users –no ‘versions’ or ‘upgrades’ to worry about.

 

Not only that, but during 2020, 2021 and (very likely) beyond, where remote working is an additional challenge, the true cloud-based nature of the platform has proven a massive advantage. At Derby County Community Trust, for example, the transition to remote working as and when required caused no disruption to the Finance Team. Everything is accessible online, including invoices, meaning that “nothing is impacted from a finance point of view.”

 

If you are considering a change in system for your charity, it’s well worth noting NetSuite’s ‘Social Impact’ initiative, designed to help non-profits accelerate their mission through technology. Non-profits of all sizes are eligible for a base donation of NetSuite’s non-profit solution with no-cost activation. Beyond the base donation, Social Impact organisations can access solutions for grant accounting, SORP reporting, non-profit budgeting and more. Every solution has special Social Impact pricing that is deeply discounted from standard pricing.

 

This program can make a huge difference when making the business case for a new system to your stakeholders and we’ll happily talk you through how it works if you get in touch.

 

For more information, it’s worth exploring the dedicated non-profit related area of our website, checking out our resources for further reading or contacting us to arrange an initial chat about your pain points and / or ambitions and how we might help transform your systems to address them.