Bridge the Gap Between CRM data and Accounting
CRM and subledger data integration with the General Ledger is fundamental
It’s been argued that the most essential integration that nonprofits need – all nonprofits – is application integration between their revenue tracking system(s) and their accounting system. Whether it’s manual or automated; whether it’s fundraising, membership, eCommerce, or program revenue; and whether it’s all managed in one main CRM or in different systems – all of that transactional data must get into the General Ledger without error and in a timely fashion.
And expenses? The more organizations we work with, the more we see that nonprofits are using separate systems to manage payroll, purchasing, and bill-paying – and to allocate program, management, overhead expenditures across various initiatives and projects. All of that transactional data also needs to be transmitted to the GL, accurately and in real time.
Omatic has deep experience integrating fundraising, other nonprofit revenue, payroll, and expense data with accounting. Not only do we know the nonprofit sector and its operational nuances better than anyone, but we’ve built intelligent integrations for the major finance systems that nonprofits use, so we know each one’s unique requirements. And, as technology has evolved, so have our tools: we’ve built our solutions on cloud-based technology to ensure accuracy, speed, and above all, security.
Intelligent integration between your CRM, other subledgers, and any finance system
It doesn’t matter what financial management system you use – Omatic works with any of them. As long as the system can import or upload summary or detail journal entries, Omatic can identify and gather the right transactions from your Blackbaud, Salesforce, payroll, or other transaction management system, pull all the correct information needed, and transform the data so that it meets all the requirements of your GL, and so that no human manipulation is ever required.
We leverage Salesforce and Blackbaud APIs so that downloading and uploading is a thing of the past, and we’re continually investigating new API connections for other finance systems so that posting from external subledgers can be as streamlined as possible.
Automated. Formatted. Trusted.
‘Double entry accounting’ was not meant to describe entering transactional data into a CRM, payroll, or subledger system and then entering it a second time into your finance system. Nobody wants business processes to take twice the necessary time, and certainly nobody wants to go digging through the entries when the two sides don’t tie out.
When the financial data workflow – posting from a CRM or external subledger to the finance system – is automated, posting is faster, more accurate, more efficient, and can be done according to a schedule, or on-demand to tie-out when volumes are high.
No more formatting headaches or manipulation
‘We’ve been working on automating our General Ledger integration’, says one nonprofit CRM admin, ‘but the standard exports don’t include all of the data that Accounting needs, and we struggle get it into the format that the accounting system requires. I end up having to manually add columns and populate fields each time we post.’ This takes time, is subject to errors, and then takes more time when the errors are detected and have to be corrected.
Omatic’s financial integrations for nonprofits validate all your accounting system requirements early on. We also make sure that all the required data can be pulled from the CRM or other source system to provide accounting information in the necessary format. And, we ensure that no data or file manipulation is required, saving time and preventing inaccuracies.
Increased trust and improved credibility
When fundraising or revenue reporting from the CRM does not correspond with financial reporting generated by the finance system, it creates a credibility gap with stakeholders that gets wider each time it happens. And when teams cannot reconcile their numbers internally, trust is eroded – both trust in the figures and trust in each other.
An automated, trusted cloud integration solution for your CRM and your nonprofit financial system helps ensure that you can reconcile on-demand and that fundraising or other revenue reporting from the CRM corresponds with compliant financial statements. And that breeds an increased level of trust between the teams and an improved level of accountability to donors and other stakeholders.