Traditional spreadsheets programs like Microsoft Excel and Google Sheets have been the go-to tools for associations to manage and analyze data. But, as your organization grows, certain high-level operations like budgeting become increasingly difficult for spreadsheets alone to handle. As a result, you may find that your whole set-up wears down your team’s productivity and delays goal achievement.
So how do you know when your membership association is at this point? Here are four signs your organization needs a new budgeting solution.
1. Spending Too Much Time Budgeting
Budgeting processes require intensive and collaborative efforts from all departments of any organization. A successful budgeting process requires that the operating costs and the projected spending of every department for a new fiscal year be captured.
Otherwise, you may run into inconveniences that threaten your productivity and ability to properly serve your members. Integrating automated budgeting solutions like Sage Intacct make projection updates and team collaboration and coordination a cakewalk.
2. Making Too Many Mistakes
As you punch in more numbers into Excel and attempt more advanced calculations, you may discover that errors become commonplace in your organization. Mistakes often arise from inputting digits into the spreadsheet and using the wrong formulas, making it even harder to trace errors.
You may mess up your critical metrics and KPIs if you’re not able to get these outdated practices under control. More advanced solutions make it easier to calculate vital metrics with built-in formulas that will help your team be successful. This eliminates the need for manual formula entry or maneuvering to achieve stellar results.
3. Poor Info Relay Systems
Excel and other spreadsheet software systems are not equipped to handle high-level collaborative work models, which can create the impression of organizational silos. Attempting to work around this channel hell can lead to loss or tampering of data, deliberately or not.
Creating multiple copies of spreadsheets results in a scenario where changes are hard to trace, costing your organization time and money. Controlling data changes, collaborating and relaying information is more straightforward with Sage Intacct.
4. Employing More Workers
Hiring more workers may be a response to poor employee retention because they are overworked, or there is more demand for a larger workforce to handle data entry. Both situations suggest that your association requires more staff for proper functioning and that your current system has outgrown spreadsheet budgeting.
However, the cost of hiring new employees — with the challenges of finding, onboarding and retaining staff — means it may be time to think twice about your older software solutions. Timely investment in accounting technology systems has shown to maximize human capital investment, one of many benefits of adopting Sage Intacct.
IBC Concepts Successfully Implements Sage Intacct for Membership Organizations
Taking charge of your association’s problems from the start makes things a lot easier for you and your employees to successfully serve your member audience. At Intuitive Business Concepts, we offer Sage Intacct as a modern financial management solution to ease budgeting processes, minimize accounting errors and maximize workers’ productivity. Contact us to get more info on how you can improve your budgeting experience.
About IBC: At IBC, we have a deep understanding of the critical business needs and processes specific to associations, non-profits, and unions. We ‘get’ your culture, your goals, and what drives you, too. Focused exclusively on and dedicated to delivering the most effective AMS, LMS, and Cloud Financial Software for our clients, we’re well-versed in identifying and applying the integration techniques that will save you time and money. Since 2001, our cutting-edge products, unparalleled responsiveness, and award-winning services have helped organizations like yours increase their operational and financial performance by leveraging best practices and proven solutions. For more information about IBC, please visit the website at www.ibconcepts.com or call 443.603.0215