GuideStar Enters into Partnership with Sage Intacct
You probably know about GuideStar – the world’s largest source of nonprofit information. I am out on GuideStar daily and I’m not the only one – each year, more than 8 million people including individual donors, nonprofit leaders, grant makers, government officials, academic researchers, and the media use GuideStar data to make intelligent decisions about the social sector.
GuideStar has entered into a partnership with Sage Intacct. Sage Intacct is the nonprofit accounting solution we prefer to use on behalf of our nonprofit clients. We prefer it because it provides great value to our nonprofit clients, it has powerful functionality, it is easy to use and it’s also preferred by the AICPA.
GuideStar Enters into Partnership with Sage Intacct – Here is information from the October 18, Sage Intacct press release:
Sage Intacct, the innovation and customer satisfaction leader in cloud financial management software, today announced a new, exclusive relationship with GuideStar, the world’s largest source of nonprofit information. During the opening keynote of Sage Intacct Advantage 2017 in Las Vegas, the two companies unveiled a new Sage Intacct Nonprofit Financial Board Book Powered by GuideStar.
The Nonprofit Financial Board book is built on the Sage Intacct platform and incorporates the best practice metrics and insight that GuideStar uses to demonstrate the financial health of nonprofit organizations, as well as ensure the organization is on track in accomplishing their missions. This new digital board book uses real-time transactional data from the system of record to automate the calculation of key financial and operational metrics important to nonprofit organizational health.
For nonprofit organizations, Sage Intacct and GuideStar share a common goal of enabling better financial stewardship and improved mission accomplishment based on a holistic view of each organization. Beyond program expenditures and efficiency metrics, nonprofits need to ensure they have the sustainability and capacity to deliver on their commitments. This comes from a number of factors, but one of the most important is understanding whether they have enough funding to carry out their missions should any of their funding sources be impacted.
The Sage Intacct Nonprofit Financial Board Book is a real-time strategy tool that meets the specific needs of nonprofit organizations. Key metrics such as revenue composition, liquidity, and unrestricted cash are displayed via pre-built dashboards to show financial health over time. The metrics are automatically calculated using balance sheet, revenue, and expense data from Sage Intacct, and through additional operational sources from within the organization including its Donor Management Systems, Budgeting and Planning software, Payroll, and more. The dashboards help to spur conversation and analysis, while real-time delivery eliminates delays in monitoring these metrics and improves the organization’s ability to respond to unplanned changes in funding.
“With critical revenue, funding, and expense data at their fingertips, nonprofit finance executives have real-time insights into the health of their organization and can make the important decisions that will shape their future,” said Dan Miller, VP of Product for Sage Intacct. “GuideStar is a natural partner to work with when developing the Nonprofit Financial Board Book,” added Miller. “With more than 7 million users, across 2.5 million nonprofit organizations, GuideStar has its finger on the pulse of the nonprofit sector and we share a goal of helping these organizations make better decisions through access to information.”
“Nonprofit sector leaders and practitioners know that better data can lead to better decisions and a better world. GuideStar is focused on helping organizations convert data to intelligence to strengthen mission accomplishment. These efforts were a driving factor in our decision to partner with Sage Intacct,” said Adrian Bordone, VP of Strategic Partnerships at GuideStar. “We envision a nonprofit sector strong enough to tackle the great challenges of our time. The first step in that process is to ensure nonprofit organizations have the information they need to make smart decisions, build connections, and learn from each other to achieve their missions. The Sage Intacct Nonprofit Financial Board Book delivers critical insights for nonprofits and meets a timely and significant market need for better access to information.”
The Nonprofit Financial Board Book is based on the framework developed by GuideStar to monitor the financial performance of nonprofit organizations. The board book also features a direct link to GuideStar right from the dashboard, enabling joint customers to leverage comparative information and peer organizations that may have encountered similar issues to identify best practices for improvement.
“GuideStar was a natural partner to work with when developing the Nonprofit Financial Board Book,” added Miller. “With more than 8 million users, across 2.6 million nonprofit organizations, GuideStar has its finger on the pulse of the nonprofit sector and we share a goal of helping these organizations make better decisions through access to information.”
The Sage Intacct Nonprofit Financial Board Book is expected to be generally available in early 2018.
GuideStar Enters into Partnership with Sage Intacct