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Budget

How Nonprofits Can Succeed with Cloud-Based Budgeting

Even in the best of times, non-profit organizations are under immense pressure to achieve more with less. However, during times of uncertainty—such as a looming recession—this stress is only amplified, with all departments feeling the strain. A labor-intensive budget process full of spreadsheets and folders hinders progress and efficiency, overwhelms staff, reduces transparency, and prevents effective forecasting and planning.

Now more than ever, nonprofit organizations need to create clear, collaborative budgets to provide all departments with full ownership over data and reporting.  

So where do you start? In our latest webinar, our very own Brian Walker, Director of Not-For-Profit, and Andrew Lewin, Customer Success Associate, discuss how Euna Budget, powered by Questica, can ensure your nonprofit organization is agile and adaptable to any environment while supercharging your entire budgeting process. 

In case you missed it, here are the major highlights: 

Manual budgeting processes can mean major headaches for your nonprofit  

Traditional budgeting methods are often tedious and inefficient, requiring a significant amount of manual labor and resources – neither of which can be afforded by nonprofit organizations. 

Here are 4 significant reasons why traditional budgeting may not be suitable for your nonprofit: 

Inefficient processes – Traditional budgeting processes, such as spreadsheets, are extremely time-consuming, error-prone, and severely lacking in data security. Such processes also limit data forecasting and analysis, making it difficult for nonprofits to adapt to changing circumstances.  

Minimal collaboration – For many nonprofits, budgeting is a collaborative effort involving various stakeholders. Spreadsheet budgeting often requires manual sharing of files stored in various folders and locations, making it difficult to communicate between teams and departments effectively. 

Lack of transparency and accountability – Spreadsheets don’t provide a clear audit trail of decision-making processes nor the reasoning behind resource and budget allocations. This makes it difficult to determine who made those decisions and whether they were in your community’s best interest.  

Limited reporting – Although spreadsheets can generate basic reports, they don’t provide detailed reporting, such as budget forecasting and what-if scenarios, that is needed to achieve financial transparency. 

For your nonprofit to avoid these budgeting challenges, you’ll need the right solution.  

Alleviate budgeting headaches with cloud-based software 

Eliminating your nonprofit’s finance woes doesn’t need to be a big leap. Implementing cloud-based budgeting software—like Euna Budget, powered by Questica—allows your organization to streamline its processes for maximized efficiency.   

Users can create multiple forecasts and scenario-based plans, generate detailed financial reports for in-depth data insights, and share information across your organization and with the public for increased transparency and accountability.  

Are you ready to supercharge your nonprofit’s budget? Schedule a demo with our Solutions team today. 

Interested in watching the full webinar? You can access the recording on-demand here. 

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Learn how to find the right solutions partner to enhance your ERP, save time and resources, and ultimately deliver a greater impact on the communities you serve.

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DOWNLOAD OUR LATEST EBOOK.

Learn how to find the right solutions partner to enhance your ERP, save time and resources, and ultimately deliver a greater impact on the communities you serve.

Download eBook