How can NetSuite benefit not-for-profit organisations? Can nonprofits use NetSuite for fundraising? Which NetSuite features will be most useful for your not-for-profit? Why NetSuite for not-for-profits? How can a not-for-profit get started with NetSuite?
In this post, we’ll explore all of these questions so that you can determine if NetSuite is the right solution for your not-for-profit organisation.
What is NetSuite?
NetSuite is a cloud-based enterprise resource planning (ERP) software suite that offers businesses a complete set of applications to run their organisations.
This includes financials, CRM, eCommerce, and more. NetSuite has been designed to help organisations automate and streamline all aspects of their operations so that they can focus on their core mission.
Why Not-for-Profit Choose NetSuite?
There are many reasons why a not-for-profit would choose to use NetSuite. One of the primary reasons is that NetSuite can help nonprofits save time and money by streamlining and automating many of their back-office processes.
Nonprofit organisations confront a myriad of complexities and operational difficulties, regardless of whether your mission is helping the local community or providing international outreach to empower and educate for global causes.
To tackle this, they often run a plethora of disparate applications and spreadsheets and lack tools that are affordable, effective and purpose-built to meet their unique needs.
NetSuite solves these problems in a unique way. This innovative ERP software helps nonprofits, not only to better manage their finances, track their donors, and raise more money but to break down silos and boost resources.
Another reason why not-for-profits choose NetSuite is that it offers a comprehensive set of features that can be tailored to the unique needs of each organisation.
For example, NetSuite includes built-in fundraising tools that can help nonprofits streamline their fundraising efforts. Additionally, NetSuite’s constituent relationship management (CRM) capabilities can help nonprofits keep track of their donors and better engage with their supporters.
Finally, not-for-profits choose NetSuite because it is a cloud-based solution that can be accessed from anywhere at any time. This is key for international nonprofits who need to be able to access their data from anywhere in the world while keeping operating costs down.
What Can Not-for-Profits Do with NetSuite?
Not-for-profits can use NetSuite to manage all aspects of their operations, including:
Financial planning
NetSuite’s financial planning tools can help nonprofits to better manage their finances and budget for the future.
Organise your finances and simplify your accounting with a robust nonprofit financial management and accounting system that is designed to meet the unique demands of not-for-profit organisations.
NetSuite’s financial ERP applications will help you track your organisation’s income and expenses, manage donor funds, and produce financial reports.
Global management
Expand your mission internationally and concentrate your resources on achieving social change rather than managing IT complexity.
This comes with multi-currency support which can help not-for-profits track their finances in multiple currencies. For example, an organisation that receives donations in multiple local currencies will be able to consolidate its financials into a single currency.
Additionally, NetSuite’s powerful tax compliance capabilities can help international not-for-profits to comply with tax regulations in multiple jurisdictions.
Reporting and analytics
NetSuite’s reporting and analytics tools can help nonprofits to better understand their data and make informed decisions about their operations.
With a built-in business intelligence platform that gives users the ability to create custom reports and dashboards, you can rest assured that both management and staff will gain a more complete picture of the organisation on-demand and in real-time.
Whether it is to generate financial reports, donor reports, and other types of data-driven insights to help inform your organisation’s decision-making, NetSuite’s reporting and analytics tools can help.
E-commerce
Not-for-profits can use NetSuite to power their online donation platforms and other eCommerce initiatives.
Whether you sell publications, items or fundraising premiums, NetSuite’s eCommerce solutions can help you manage your inventory, take donations and payments, and track your sales.
You can accept donations online, process payments, manage donor data, and track their giving history.
Spend management
With NetSuite, not-for-profits can gain complete control of their spending, ensure full accountability and stewardship of funds, track their vendor contracts, manage invoices, and generate spending reports.
The spend management solution automates and simplifies the entire expense cycle, including reporting, submission and approval, maximising the accuracy and timeliness of your expense processes.
It integrates with project accounting and invoicing and comes loaded with features such as purchase order approvals, requisition approvals, and expense management.
Not-for-profits can use these features to streamline their purchasing processes and save money on costs such as office supplies and travel expenses.
By managing your not-for-profit’s entire expense process in a single solution, it becomes easy to seamlessly track and submit expenses for rapid reimbursement and client billing.
Fundraising
With NetSuite, organisations are able to easily manage their entire revenue lifecycle, from pledge to payment and grow the support they need for long-term success.
By automating their fundraising processes, not-for-profits can focus on their mission, not on manual tasks.
NetSuite’s fundraising solution includes features such as donor management and donation processing.
Constituent relationship management
Break down silos and empower your organisation with a 360-view of your donors, volunteers, supporters, and clients—all in a single place.
NetSuite’s constituent relationship management solution gives you the insights you need to cultivate relationships, manage programs, and drive fundraising success.
It includes features such as contact management, donation tracking, and volunteer management.
Get Started with NetSuite for Not-for-Profit Organisations
If you’d like to learn more about how NetSuite can help your not-for-profit organisation, please contact us.
We would be happy to answer any questions you have and provide you with a customised demo of the software.