Top 7 problems solved by Infor SunSystems Cloud in Not for Profit.
Problem #1: Manual Reporting and Processes
This is the second in our series of blogs highlighting seven common problems addressed by Infor SunSystems Cloud in Not for Profit organisations. The first examined the need for detailed grant and fund tracking. In this blog, we highlight problems associated with manual and disjointed reports and processes.
The problem
The manual systems are something we all use at some point. We know it’s not ideal. But it works. Until it doesn’t.
Manual systems are time consuming and resource intensive. They are also prone to error, and errors erode confidence. Reports from these manual systems are also invariably out of date. And without the burden of additional controls and a strong audit trail, they also create compliance risks.
A couple of examples.
1. Grant misreporting
Scenario:
- An organisation managing expenditure across multiple grants and funds uses spreadsheets to allocate costs between them
- A misallocation of costs between restricted and unrestricted funds goes unnoticed
- The organisation submits inaccurate reports to management, trustees and funding partners
Consequence:
- Trust in financial information is eroded
- Future grants and donations are put at risk
2. Manual systems for purchasing
Scenario:
- Purchase orders raised at multiple locations without Finance having proper visibility of process
- Approval processes based on a chain of emails
Consequence:
- No real-time budget checking
- Lack of visibility of process
- Little or no audit trail
- Poor budgetary control
How SunSystems Cloud can help
In SunSystems Cloud, information relating to fund allocation is captured automatically. There is no need for spreadsheets. The solution allows you to define rules and forms to simplify data entry, thus ensuring that spend is always allocated to the correct fund. SunSystems Cloud also minimises the need for manual data entry with integrated solutions for purchasing and staff expenses that ensure all information is coded correctly.
The LAKE SunSystems Cloud solution automates the entire purchasing process, from requisition, approval, all the way through to payment. Designed for ease of use, the system guides you through the process, ensuring compliance with procedures laid down by your organisation.
The solution includes flexible workflow that can be configured to meet your needs. It automates the capture of data from inbound documents before validating and submitting them for payment. Dashboards provide real-time visibility of all documents processed in the system, their status, and (where appropriate) the POs they have been matched to.
Take the next step
In the next blog in this series, we highlight the problem of compliance and audit risk.
To find out how Infor SunSystems Cloud from LAKE could help your organisation, download a copy of our SunSystems Cloud Beginner’s Guide – Not for Profit.
By Paul Barns