7 Reasons To Take Your Church Accounting To The Cloud
Whether you’re managing a multi-campus ministry or running missions around the country or around the world, as a faith-based organization, you have unique accounting, tracking, and financial reporting needs. You may be stuck trying to meet those needs with inflexible and outdated on-site accounting software and time-consuming manual processes. And as a nonprofit, you don’t have the luxury of a large accounting staff or IT budget.
A cloud-based church accounting solution can play a key role in reducing costs, increasing efficiency, and gaining critical financial and operational insights – allowing you to focus your time and resources on your core mission, not your accounting. Here are some of the key reasons to consider taking your church accounting to the cloud.
- You’ll gain real-time operational and financial visibility
The right cloud-based church accounting software can give you access to real-time data and the insights you need to spot both opportunities and potential trouble spots. You don’t have to wait for someone in your finance department to track down the right information and generate a manual report. Customized, role-based reports provide stakeholders a comprehensive view of their key metrics.
- You’ll say goodbye to manual reporting
One of the biggest disadvantages of legacy accounting solutions is inefficient, time-consuming manual reporting. Your finance personnel are stuck trying to find the relevant data from multiple sources, and then manually importing or rekeying the information into spreadsheets to generate reports. The right automated solution gives you the tools you need for timely and accurate reporting and allows you to generate real-time, customized reports across functions such as finance, operations, and compliance.
- You’ll automate your revenue management
Revenue management can be complex for faith-based organizations. You may be billing members on multiple time schedules, complicating your budgeting and planning. And no two funding sources are alike, creating challenges in tracking and reporting. Taking your accounting to the cloud allows you to efficiently manage revenue streams with automated workflows and integration with other key systems.
- You’ll accelerate billing and collections
With a cloud accounting solution you can more efficiently manage the billing process for dues, orders, subscriptions, and other sources, as well as online giving. And the more quickly you get paid, the more quickly you can dedicate those resources to your mission.
- You’ll be able to easily manage finances across multiple entities
Whether you’re dealing with church campuses, foundations, missions, schools, or outreach programs, you can access the data and reports you need for financial management across multiple entities. And with a cloud-based infrastructure, key stakeholders have the information they need when they need it, no matter where they are.
- You’ll integrate your accounting platform with other critical business systems
Multiple business solutions that can’t talk to each other often result in information silos and reliance on cumbersome manual processes to consolidate information. Sage Intacct’s church accounting solution can integrate other disconnected systems you may be using for tasks such as member management, online giving, finance, and payroll.
- You’ll be free to focus on your mission, not on IT functions
There is little value for most faith-based organizations in investing in and managing a large IT infrastructure. A cloud-based accounting platform like Sage Intacct gives you access to superior technology without the high cost of purchasing and maintaining on-site financial software, allowing you to focus your time and resources on your organization’s mission.
Today’s robust cloud-based solutions offer the flexibility, cost savings, and integrated tools to meet the unique challenges of your faith-based organization. To find out more about MicroAccounting’s nonprofit solutions, including Sage Intacct church accounting software, call us today at 855-876-3773 or email us at [email protected].