Introduction
Achieving the perfect fit feels lovely, whether in the clothes you adorn or the cup holder in your vehicle. But have you considered the ideal software fit for your nonprofit? The ERP system can significantly boost growth, efficiency, and mission fulfillment. However, determining the right fit necessitates a thorough assessment of all alternatives.
The evaluation can seem daunting, but when you view the broader scope, a few critical aspects stand out for assessing a cloud ERP/financial management system.
Many organizations find their software has yet to evolve with the digital age, falling short of their expanding needs. NetSuite empowers entities by consolidating core tasks within a unified system encompassing ERP/financials, grants, inventory, restrictions, and more. Adopting NetSuite allows nonprofits to automate functions, refine processes, and tap into real-time data from any location.
Whether you're a compact unit aiming for efficiency, an expanding nonprofit aiming to widen your influence, or a vast entity handling numerous transactions, NetSuite is tailored to propel you forward.
Discover the top eight reasons nonprofits choose NetSuite.
1- Ease of Use
For nonprofits juggling numerous responsibilities, the last thing they need is an obstructive accounting system. That is why NetSuite offers streamlined workflows to effortlessly automate routine activities such as bill payments, journal entries, and book closures. The era of manually inputting bills or transferring data between platforms is over. NetSuite is designed to simplify your daily operations.
With its predefined roles, team members can seamlessly integrate from their first day. Regardless of their role, NetSuite is equipped with pre-set KPIs, reminders, alerts, reports, and data-driven dashboards catering to daily tasks and strategic objectives. This results in user-friendly interfaces, straightforward data input, and a smooth onboarding experience. In essence, NetSuite prioritizes simplicity.
NetSuite's SuiteSuccess is leveraging industry best practices, and we offer a ready-to-use system immediately. This ensures you have a system that mirrors what's been demonstrated.
SuiteSuccess is plug-and-play, with most functionalities set up from day one. System implementation thus focuses on refining the unique elements you require, such as specific modifications or approval procedures tailored for your success. This methodology guarantees a highly streamlined setup process with minimal adjustments
2- Commitment to the Nonprofit Sector
Evan Goldberg, the founder of NetSuite, staunchly believed that nonprofits, like their for-profit counterparts, should have access to top-notch technology to thrive. This conviction led to the establishment of Oracle NetSuite Social Impact over ten years ago. This initiative taps into the company's most valuable resources—its personnel and products—to assist nonprofits worldwide, irrespective of their size.
The initiative rests on three foundational pillars:
- - A complimentary software donation.
- - Pro bono services.
- - Sustained capacity enhancement to guarantee enduring success.
Under the "Suite Donation" component, every nonprofit qualifies for a foundational donation of the nonprofit software, This primary offering is designed to manage the financial operations of smaller entities. It encompasses licenses for three users to handle General Ledger, Accounts Receivable, and Accounts Payable, along with basic financial reporting. Additionally, it provides one Learning Cloud Support training license.
3- Suite Capacity
At its essence, NetSuite functions as a unified entity spanning software, sales, and support. Suite Capacity guarantees that you're backed by a NetSuite team, complete with a dedicated Account Manager, focused on ensuring your organization's success with NetSuite.
This team assists customers during the onboarding process, ensures they maximize the potential of NetSuite for enhanced outcomes, and offers a continuum of community engagement and learning prospects for its users. NetSuite commits to providing genuine individuals genuinely invested in your success.
4- Ready Today for Growth Tomorrow
Experience is paramount, especially in the realm of cloud software. All NetSuite customers operate on the same code base, granting you the reliability and robustness of top-tier software but at a reduced cost. Given its vast operation, NetSuite can allocate substantial resources specifically for nonprofits. NetSuite & Haya Solutions boasts a specialized team of engineers, software developers, and support personnel, all honed in on catering to nonprofit needs.
5- Clarity of Organizational Performance
NetSuite's advanced cloud platform offers nonprofits the clarity, foresight, and automation essential for securing funding, complying with FASB reporting, and meeting Board transparency demands. Through an integrated data framework, NetSuite ensures business intelligence (BI) is accessible to users across various business roles. In a relevant context, role-specific dashboards in NetSuite display pivotal data, like KPIs and emerging trends. Reporting in NetSuite is primarily "set and ready," featuring built-in FASB-aligned reporting founded on custom GL Segments. A pre-designed UCOA-approved Chart of Accounts is also closely aligned to Form 990 items, which can be customized to your needs.
By having fewer systems that are more interconnected, resources that previously consumed hours in designing spreadsheets and consolidating reports can now be channelled toward programs more aligned with organizational missions. With a holistic view of every volunteer, donor, and client, nonprofits can foster a unified approach across their operations, enhancing their engagement with each stakeholder. Promotes enduring relationships and bolsters the support vital for sustained achievement.
Manually extracting crucial metrics can be resource-intensive. However, with NetSuite, this process is simplified. All necessary data and metrics are housed within NetSuite's cohesive data model, ensuring effortless access anytime, anywhere, on any device.
NetSuite's omnipresence means you can access it from any location. Need to input or approve expenses on the go? NetSuite's mobile app offers straightforward expense management, call logs, and time monitoring within a user-friendly mobile interface with dashboard insights and KPIs. NetSuite offers specialized apps for both iOS and Android platforms.
6- Cloud-Based Organizational Management Platform
NetSuite recognizes that the responsibilities of nonprofits extend beyond mere bookkeeping. The nonprofit sector is among the most diverse and demanding industries. While food banks manage accounts and monitor food inventory, churches handle finances and track donations, and associations juggle accounts while organizing conferences. It's common for nonprofits to rely on several different systems simultaneously.
Enter NetSuite ERP: a solution that streamlines and integrates operations. This ensures that all team members access a singular, accurate source of information. Program managers can view their available funds, both restricted and unrestricted, while senior officials can monitor crucial metrics.
NetSuite, Employee Center and General Access.
- - Employee Center Users cater to staff who don't require daily financial access but need the system for individual tasks such as expense claims, timekeeping, procurement, and scheduling.
- - General Access offers a flexible license, allowing you to define role-specific access in alignment with your organization's needs and security protocols. Each user can have individual permissions or standardized permissions can be granted to a group. Notably, through the Social Impact initiative, General Access Users are available at half the cost typically charged to commercial entities.
NetSuite's warehousing, e-commerce, and CRM expertise can also benefit stakeholders. You can begin with user-friendly and intuitive accounting software, and as your needs change, you can smoothly incorporate additional features
7- Secure and Compliant for Nonprofits
Nonprofits require compliance without the hassle of manual oversight. Imagine if your system could shoulder that responsibility. Right from its initial setup, NetSuite provides features such as FASB statement of financial position, functional expense, cash flow, activities, detailed reports on activities by the fund, and grant statement of activity, among others. NetSuite is dedicated to ensuring customers have financial solutions that are always audit-ready, paired with strong IT controls, all with minimal manual intervention.
8- Proven Best In Class
Numerous independent research entities have acknowledged NetSuite as a frontrunner in cloud-based ERP, catering to a diverse range of organizations.
NetSuite boasts an inherently cloud-native comprehensive suite encompassing complete finance and accounting, billing, over 250 FASB-compliant standard and tailored reports, governance, risk management, compliance (GRC), and consolidation features. With biannual software updates, users continually benefit from the most recent version, gaining immediate access to new features and enhancements.
However, a solution's actual value is gauged by the support accompanying it. This is why every nonprofit using NetSuite receives a complimentary pass to Learning Cloud Support (LCS). Think of LCS as an ever-ready expert, providing resources, reference content, and email connectivity to expert instructors. It elucidates vital ideas, offers step-by-step guidance, presents real-world examples, and allows hands-on practice. NetSuite strives to be as user-friendly as it is robust.
NetSuite takes pride in backing nonprofits of all sizes and scopes, from neighbourhood charities to expansive global entities.
Conclusion
• Reduced Risk Established and consistent business procedures ensure your organization launches securely and efficiently.
• Growth Potential NetSuite caters to a diverse clientele, from volunteer-driven entities to leading NGOs, ensuring a system that adapts to your growth without constraints.
• True Worth With the SuiteSuccess approach, your team can swiftly adopt best practices, and the integrated reporting tools offer instant value visualization.
• Making a Difference: A dedicated pledge to assist nonprofits via product donations, complimentary services, and capability enhancement.
What do non-profit customers say?
“We’re in the business of changing lives, and NetSuite has helped us do that.”
Boys & Girls Club of Lawrence
“Our visibility is much better. NetSuite makes it easier to make better decisions, and you can see the outcome of decisions faster.”
SEMI
“With NetSuite, we can share data across our organization with an ease we’ve never experienced before. We now have the ability to act based on our financial data.”
Solutions Journalism Network
“NetSuite allows our finance managers to engage more with our products and systems versus simply dealing with manual data entry, processing and reporting.”
Kiva
Contact us today to discuss your nonprofit
+1 (905) 678-6962
