Cloud Accounting -- Is It Right for your Nonprofit?

There is no doubt that whatever industry your organization is in, the daily (often hourly) unfolding of news from the COVID-19 pandemic is in some way impacting your daily lives. All across the board, we are seeing more and more people working remotely in an effort to isolate and/or follow governmental released recommendations to stay home. This can certainly produce new challenges in the workplace. Remote working has many great benefits too.

Cornsilk partners with Accufund so that our clients receive the best fund accounting software and have a straightforward, user-friendly experience when it comes to fulfilling their organization’s reporting requirements. As a user of this software, you may or may not be using a cloud-based subscription. As many workers are moving (even temporarily) into a remote working environment, organizations may want to consider moving from an on-premise solution to a cloud-based system.

So what is a cloud-based system?

As opposed to on-premise software that uses client servers to support its users, a cloud-based system can be made available to any workstation anywhere so long as there’s access to the internet. This allows for much wider flexibility when it comes to accessing necessary software and can certainly help organizations continue to run smoothly and uninterrupted during these unprecedented and uncertain times.

In the event that one of your team members is unable to come into work, having access to the cloud may not only allow them to work from home, but allow others to access their information in their absence. It’s a way to remain plugged in and connected from anywhere, anytime.

Are there risks to switching to the cloud?

One of the main considerations of switching to cloud-based software is that the access capability will depend on the users internet connectivity capability. Whereas on-premise software is always tied to the client/server architecture, the cloud’s functionality can vary based on individual service availability. Security can be another challenge as various devices unregulated by the organization’s standard procedures could be vulnerable to cyber-attacks. You can read more about cybersecurity threats and our tips on protecting your organization from them on our previous blog on Cyber Attack Tips.

What are the benefits of cloud computing?

There are many benefits to moving to the cloud including:

Accessing data anywhere and at any time
Specialized IT experts with cloud service providers, so your team can focus more time on your mission
Best-in-class security tools to protect you and your donors

And that’s just the start! Many organizations have reported spending up to 80 percent of an IT budget on maintaining legacy software. With cloud migration, you can increase performance and extend the life of the system by receiving the most up-to-date software. Maintenance will also take less effort because updates are automatic, and organizations always have the most up-to-date version.

Depending on the needs of your organization, the benefits can vary in priority and weight. As a starting point, nonprofit accounting professionals and executives alike need to rate and prioritize the benefits relative to the needs of the organization.

What’s the best strategy to move to the cloud?

There is not a one-size-fits-all philosophy with cloud computing migrations. Make sure your plan meets the needs and priorities of your nonprofit, including:

Cost analysis between the on-premises and cloud-hosted software
Road map on how the migration will support the bottom line and mission of your organization
Research and comparing services from at least three cloud providers

Migrations to the cloud can be overwhelming for many of today’s nonprofit professionals. By breaking down the process into three steps, a plan can be effectively crafted and shared with stakeholders across the organization.

Migrating your fund accounting solution to the cloud can be daunting and the good news is, we are offering a free cloud consultation outlining what it would look like if your organization decided to switch to cloud-based software. This includes what options would be available and how systems in the cloud may appear or function differently. This consultation can be very helpful in deciding what the best plan is for your organization right now or in the future for long-term planning.