Netsuite ERP for Non Profit Organizations - Provides Updated Mission Yields
Cloud will be the future deployment method of choice for non profits because of its many advantages. From reduced IT dependency and scalability to cost cuttings across the board the cloud has all the right answers. Many NGOs are already reaping the rewards by improving their mission effectiveness and reducing cost overheads drastically. Even those with significant investments in legacy systems are contemplating a move to cloud platforms in the future.
Problem NGOs experience with traditional systems
Traditional ERP systems are CAPEX and resources hungry. Beyond the upfront cost on hardware and software NGOs have to spend huge sums of money on maintenance, employee training and costly hardware and software upgrades.
NGOs are increasingly finding hard to justify substantial IT costs in an environment where funding to NGOs are squeezed because of slowing economy. NGOs must ask themselves – Does it make any sense for us to continue investing on an on premise ERP system when a move to cloud applications would bring cost and operations benefit as part of a package?
Some good reasons for switching over to Netsuite ERP
1) It helps corporate bodies in justifying their NGO funding
In today's it is hard to justify corporate funding without some tangible results. In this context, it is becomes important to find a proper metric for calculating NGO's performance. Mission yield is as good a metric as any when it comes to evaluating NGOs. It is defined as the ability to fulfill any given objective within a given time frame. Any NGO that has Netsuite ERP running in the background will be able to provide updated mission yield information like funding available, projects in the pipeline, project time and cost overruns etc. Netsuite implementation provides the tools for quantifying efficiencies and helps in justifying corporate donations.
2) Helps in meeting corporate and tax reporting compliance
Besides quantifying mission yield, Netsuite implementation will help NGOs fulfill evolving regulatory, donor and tax reporting requirements that are a constant source of headache for most NGOs.
3) Provides multi-country and multi-currency support
Netsuite implementation supports multinational operations. With multi-language and multi-currency support NGOs can extend their operations in foreign countries.
4) Helps in meeting terms and regulations of grant
Some grants come with terms and regulations of usage of grant money. Netsuite customers can create checks and balances to prevent misuse of grant money. Alerts can be created with grant money when grant money is about expire
5) Records stored in electronic format
Running NGOs involve a lot of paperwork. This is important because NGOs are audited necessitating a paper trail. However, with Netsuite ERP on can store all documents in an electronic format dispensing with the need for paper based documentation.
Inspirria cloudtech is a leading Netsuite partner with more than 250 successful implementations and 99% retention rate. Its success rate is proof of its ability to provide value for money solutions time after time. Inspirria cloudtech recommends NGOs to use Netsuite ERP for running their business.