Accounting System Inefficiencies Can Hurt Focus On Leadership

In two days, Intacct Corporation and The NonProfit Times will be holding a free webinar on accounting systems for nonprofits. We'd like to take this time to give readers a sneak peek at some of the content in the presentation.

The right accounting system for your nonprofit should work smoothly so that the organization's focus remains on the important issue of business leadership. Unfortunately, too many accounting programs are inefficient, which means more time is spent on them. In the upcoming webinar, the top issues CFO organizations are facing:

• Managing cash and budget: 24 percent.
• Improving information provided to managers in the organization: 23 percent.
• Improving operational business processes: 23 percent.
• Improving finance and accounting business processes: 15 percent.
• Improving controls and compliance: 8 percent.
• Managing investments: 3 percent.
• Implementing a new ERP system: 2 percent.

The top bottlenecks these same organizations face in the monthly close process are also discussed. They are:

• Manual processes rather than automated: 26 percent.
• Systems not integrated: 24 percent.
• Staff shortage: 12 percent.
• Inadequate data: 10 percent.
• Processes not followed: 9 percent.
• Staff lack of skills: 8 percent.
• Processes undefined: 7 percent.

As you can see, organizations are facing a host of problems with their accounting systems. If you want to find out how to better tackle these issues, we encourage you to attend our free webinar on July 19th at 2:00 PM EDT.

Stay tuned tomorrow for another preview of the webinar!