Top 7 problems solved by Infor SunSystems Cloud in Not for Profit.
Problem #1: Lack of Grant and Fund Tracking
In this blog, the first of seven, we focus on the need for detailed grant and fund tracking. Many in the Not for Profit sector will be familiar with this problem. Some of the most popular finance systems have trouble keeping up. They often need spreadsheets and manual processes to fill gaps in the main application.
The grant and fund tracking problem
Grant making bodies and donors require feedback on how their funds are being spent. Transparency is more than simply a matter of compliance; it builds trust, and trust is important in maintaining the flow of funds. Some grants come with restrictions; organisations must spend restricted funds on specific programmes or activities. In some cases, there may also be restrictions on when the money can be spent.
Fund tracking requires a granular level of reporting that is a struggle for many finance systems. There may be restrictions in the number of analysis codes. Standard reports may lack essential information such as social impact KPI’s. In cases such as these, users may need to spend valuable time building inefficient and error-prone workarounds that often involve manually keying information into spreadsheets.
How SunSystems Cloud can help
SunSystems is renowned for its reporting flexibility. Its system of analysis is powerful and flexible enough to cope with any challenge a not-for-profit is likely to throw at it.
Analysis is user definable and can include non-financial data for the tracking of social impact KPI’s. Reports and dashboards can be whatever you need and can present information in real-time. There are no periodic updates or reconciliations. Data is always up to date.
With SunSystems Cloud, every manager can get real-time and personalised access to important metrics. These include income and expenditure by fund, project, cost centre, property etc, with quick and simple drill down to transaction detail and document images.
Take the next step
In the next blog in this series, we highlight the problem of manual reporting and processes.
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 Jon Isherwood