Top 7 problems solved by Infor SunSystems Cloud in Not for Profit.
Problem #5: Siloed programme and finance data
This is the fifth in our series of blogs highlighting seven common problems addressed by Infor SunSystems Cloud in Not-for-Profit organisations. In this blog, we focus on problems associated with siloed programme and finance data.
The Problem
When talking about siloed data, we are referring to critical business information that is held in separate systems. By implication, those systems work in isolation, and the information they contain is not easily transferable from one system to the next. Grant tracking may be managed in one system, fundraising in another, and so on.
Hospices, for example, may have four or more systems to contend with:
- Donations tracked in CRM system
- Costs tracked in finance system
- Care delivered tracked in clinical systems
- Retail income managed via EPOS and eCommerce
Siloed programme and finance data directly affects decision-making as it makes it difficult to track outcomes and associated costs in a single report or dashboard. It also makes it difficult to calculate metrics such as cost per outcome and track fund usage.
To overcome these problems, organisations may end up manually duplicating data entry across systems. And we all know the problems that brings. Mistakes occur. Differences creep in due to errors, timing, or omission.
Organisations may also end up feeling the need to invest in additional software to unify reporting across all systems. This can be expensive; it can also require significant commitment of resources for setup and maintenance.
How SunSystems Cloud helps solve the problem of siloed programme and finance data in Not for Profit
SunSystems Cloud overcomes these problems by integrating with other line of business systems and unifying reporting. In the hospice example above, it acts as the financial hub that connects fundraising, retail, and care into a single, trusted view of the organisation. There is no more duplication of data entry.
SunSystems is built around a multi-dimensional ledger. Every transaction can be tagged with relevant dimensions, such as project, funding source, location, service, etc. Finance and programme data are inherently linked. This simplifies the tracking of costs at programme, activity, or even beneficiary level.
LAKE solutions based on SunSystems also come with powerful dashboard and reporting capabilities, delivering a more relevant and engaging experience for decision makers. And, unlike solutions that rely on periodic updates or reconciliations, SunSystems Cloud helps keep information up to date. There are no lags due to periodic updates or reconciliations.
Take the Next Step
These are just some of the ways in which SunSystems can help your organisation. To learn more, visit the not for profit sector page on this website. Alternatively, download a copy of our SunSystems Cloud Beginner’s Guide – Not for Profit.
In the next blog in this series, we shift focus to difficult multi-entity consolidation.
By Jon Isherwood