B2B Payments

A Cloud Accounting Tool Built For Nonprofits

Nonprofit businesses have unique challenges compared to other corporations, especially when it comes to their accounting processes. A new tool from Blackbaud, a firm that specializes in creating solutions and providing SaaS for the global nonprofit and philanthropic community, aims to help these companies meet their specialized needs.

Blackbaud said yesterday (Sept. 22) that it is making its new cloud accounting software Financial Edge NXT available to its nonprofit corporate clients. The product is going live after successful testing, the company said, which saw more than 100 nonprofits use the service.

[bctt tweet=”Nonprofit businesses have unique challenges when it comes to their accounting processes.”]

Financial Edge NXT offers AP and AR management, corporate banking solutions, true fund accounting with general ledger and other financial tools for nonprofit organizations. The solution also includes real-time financial reporting and data insight, as well as services made especially for nonprofits, like grant and project accounting tools.

According to Blackbaud, a key to the new service is automated data entry to ensure efficiency and data accuracy,and to allow nonprofits to make their financial decisions based on clear financial information.

“The general availability of Financial Edge NXT marks another important release in a wave of continued innovation Blackbaud has brought to the industry over the last 12 months,” said the company’s president and CEO, Mike Gianoni, in a statement. “With Financial Edge NXT, nonprofits now have access to the most innovative, intelligent accounting solution in the cloud.”

The release of Financial Edge NXT marks the second in a line of nonprofit software releases for Blackbaud.

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