Today’s nonprofit finance and accounting leaders face an increasing amount of responsibility.
Trust that every dollar will be used responsibly.
But you also face scrutiny from watchdogs, charity rating organizations, and/or regulators. Any financial irregularity damages your reputation and fundraising efforts. They have the potential to put you out of business.
And accounts payable remains one of the most vulnerable areas in nonprofit finance and accounting. Vulnerable to mistakes, overpayments, underpayments, double payments, and – worst of all – fraud. As a nonprofit financial leader, it is your responsibility to prevent fraud on accounts payable processes and expenses incurred.
The best and easiest way to do this is by adding automated approval workflows across different team leaderships using AP automation.
AP automation will also help you control vendor expenses, steward vendor cycle management, and ensure AP workflow internal controls are in place.
To help solve this, CoreIntegrator has developed nonprofit accounting software that automates the entire process of procure to pay.
AP automation will make your job as a nonprofit accounting and finance leader easier. And you will save your organization money - something every nonprofit board loves to see!
Plus, by implementing an ePayment solution in addition to AP automation you can even earn cashback on every bill you pay!
Of course, every organization could use help with compliance and fraud prevention. And everyone wants to save time and money!
But nonprofit finance and accounting leaders also have unique needs.
The Unique Needs of Nonprofit Finance and Accounting Leaders
Nonprofit development and financial leadership are often tasked with creating impact-based reporting on expenses spent. The idea is to tell their unique problem-solving and/or philanthropic story to donors, members, and partners.
This affects current AP processes by increasing the need for better insight into how each dollar is spent – and the ability to integrate that insight into your dimensional accounting strategies.
Again, we can help you not only automate your nonprofit accounts payable, but we can also provide you with the tools you need to automate impact and outcome-based accounting.
And we know that nonprofits often don’t get to operate a full-blown ERP. So we specialize in integrations with any accounting system including GP, QuickBooks, Zoom, and other accounting systems used by nonprofit organizations.
Unique Challenges by Types of Nonprofits
Within the world of nonprofits, specific types of nonprofits have even more unique AP needs. We get that. And we can automate those too!
Developmental nonprofits work on communities and infrastructure.
Developmental nonprofits work to eliminate poverty through sponsorships and can be local, national, or global in nature. So developmental nonprofits need tightly integrated AP automation that can speak many languages and operate in any currency.
And it’s critical that invoice approvals can be made on any device from anywhere in the world. Our solutions do just that.
Health nonprofits operate or support health care, senior care, retirement centers, and/or global immunization and clinics. Health nonprofits also sometimes require AP automation in many languages and currencies.
They also tend to deal with a high number of both PO as well as non-PO invoices, meaning both automated data capture as well as PO matching are critical to health nonprofits. Both A/P One and CoreIntegrator Enterprise were built to do just that.
Disaster Relief Nonprofits
Disaster relief nonprofits mobilize when disasters strike.
As with developmental and health nonprofits, disaster relief nonprofits need AP automation that operates around the globe and in real time.
And since a disaster can strike anytime, anywhere, they also need automated payments that are global. OnPay from CoreIntegrator automated e-payments can do that.
Religious nonprofits operate churches, mission-based agencies, religious camps, charities, and other faith-based organizations.
Religious nonprofits often rely on volunteerism and tend to be run on very tight budgets. So, every penny counts. Religious nonprofits need AP automation that can not only save the organization money but can earn rebates for the nonprofit.
Our solutions do that and so much more!
See how the CoreIntegrator Data Capture Service can make your AP staff 500 times more efficient!
Let us show you how efficient your nonprofit organization's AP can be.
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At CoreIntegrator, we make people more productive.
Let us show you how we have saved our nonprofit customers time and money. How centralization and insight into AP data can turn your company into a data-driven organization.
Contact us to request a demo today.