Many people are often surprised at the depth and breadth of the non profit sector's reach. The nonprofit industry is a $390 billion-dollar industry that employs 10% of all US workers. Nonprofits are often dealing with high levels of complexity and limited resources and software solutions.
Nonprofits are often found with a variety of solutions that are not integrated and are being supported by out of date accounting systems. Inefficiencies in closing the books and reporting on financials are often times masked by the fact that these solutions are inexpensive. This makes it difficult for nonprofits to get off those legacy systems and spreadsheets and move to a more efficient and streamlined solution.
Until recently, nonprofits were able to limp by on their outdated solutions. However, times have changed. Nonprofits today must be online in order to be successful. FASB rules have changed and there are much more stringent rules for tracking and reporting income and expenses. Nonprofits today handle numerous revenue streams and cannot get by on aging platforms designed for a different time.
