According to our 2022 Nonprofit Research Study, pandemic-related changes have encouraged 75% of nonprofit professionals to adopt cloud-based solutions as the nonprofit sector has moved towards a web-based workforce. Cloud-based software enables employees to access information from wherever they are.
Yet, even if your organization isn’t shifting toward remote work, the cloud still provides notable benefits for nonprofits and K12 schools. When you adopt cloud-based software, you take advantage of increased information security, more efficient scalability, and customizable modules. MIP Cloud offers all these benefits and so much more.
If you’re wondering if MIP Cloud is right for you, consider that MIP Fund Accounting customers who move their solution to the cloud have:
- Multiple office locations
- Remote workers
- Reliable internet access
- A preference for less IT overhead
- Previously established cloud infrastructure.
If your organization checks multiple of those boxes, MIP Cloud is right for you. However, cloud-based accounting may not be a good fit for every organization.
On-premises fund accounting could be the ideal option for nonprofits with:
- Data access restrictions
- Spotty internet connection
We let you make the best choice for your organization based on your specific needs and goals, so let’s journey together and explore the benefits of MIP Cloud
Security
MIP Cloud makes it easier for your nonprofit to keep your information secure. Some ways the cloud improves security include:
- Allowing you to manage internal access controls: Reduce the possibility of human error leading to security breaches by limiting access to only the employees who need it.
- Alerting you to potential discrepancies: MIP Cloud notifies you of duplicate invoices or other irregularities in your financial information. Once aware, you can take the necessary steps to mitigate any potential errors.
- Helping your nonprofit stay on top of compliance demands: MIP Cloud integrates compliance needs for nonprofits across the nation every step of the way. Cloud accounting software for nonprofits provides total financial transparency to help you meet compliance demands when audited.
- Implementing more vigorous security solutions: Your resources are limited and securing software against hackers can be expensive. Using MIP Cloud allows you to tap into our extensive security protocols, which meet or exceed industry standards.
- Decreasing spending on security staff: Because MIP Cloud employs robust security solutions, you’ll no longer have to hire as many employees to keep your information secure.
- Providing off-site data storage and backups: Storing your data off-site will protect it from natural disasters that might come through your nonprofit’s location.
It’s important when meeting compliance regulations for data security and proprietary information that you utilize a vendor that employs high-level safeguards.
The MIP Cloud environment is comprised of layers of security that help reduce the incidence of fraud overall. These security layers include limited user access and permissions, encrypted data and communications, and SOC compliance endorsed by the American Institute of Certified Public Accountants (AICPA) and its Statement on Standards for Attestation Engagements (SSAE).
Scalability
MIP Cloud makes it easier to scale your software as your organization grows. Because you don’t have to store the software on your organization’s servers, you aren’t limited by your computing power.
Cloud storage also alleviates the cost of maintaining your own server space for the information the software manages. With this cost eased, you then have the freedom to reallocate those funds to other growth areas.
A few more ways MIP Cloud enables your organization to scale more efficiently include:
- Speed: As the environment you serve changes rapidly, your nonprofit also needs to adapt quickly. With MIP Cloud, you no longer have to physically update your servers to update software, allowing you to scale as quickly as you need.
- Optimization: When you grow, so does your information, which means you’ll need software optimized to handle the additional data. Using MIP Cloud means your software provider will stay on top of system optimization so you can focus on your organization.
- Freedom of location: Because you’re housing your software online, you can access it from anywhere. With MIP Cloud, you have the freedom to hire more remote employees or manage your information from wherever in the world your work takes you.
- User access: MIP Cloud allows you to add new users with ease. Powerful systems will also provide access controls to keep your information secure and accessible only to those who need it.
- Adaptability: MIP Cloud provides modules that adapt to your needs and grow with your organization. The more information you have, the more complex your reporting processes become. Robust software will simplify the reporting processes by helping you find and extract only the most relevant information.
Modules
The cloud enables your software to add additional capabilities as you need them. Because of the cloud’s increased security and storage capabilities, you’re free to choose software that covers all the complexities of your nonprofit.
As you consider fund accounting software, carefully evaluate the available modules. The modules should meet your information organization and reporting needs, integrating processes seamlessly. You should also be free to add and adapt modules as your organization grows.
With MIP Cloud, we offer:
- Configurable modules
- Fund-tracking from multiple sources, including grants and donation dollars
- Fund-allocation and budgeting
- Purchase order management
- Seamless approval process for future purchases
- Bank reconciliation with bank feed matching
- Assets management according to Generally Accepted Accounting Principles (GAAP)
- Nonprofit tax reporting
- Integration with HR functions, such as payroll, direct deposit, and benefits
In essence, robust cloud accounting software for nonprofits, like MIP Cloud, will provide all the functionality you need to manage your funds seamlessly in one place. It should be customizable for your organization’s needs and help streamline your decision-making process.
Nonprofits have unique tracking and reporting needs. Look for a software package designed with those needs in mind. MIP Fund Accounting integrates transparency throughout to prepare your organization for auditing.
Because our software houses all your organization’s financial information in one place, you can easily catch any errors before they become a larger problem, and you can meet reporting requirements with ease.
Integrated modules for human resources management should also provide seamless reporting. Our HR tools enable your nonprofit to stay compliant and prepare for tax reporting through in-software tools and the ability to print tax forms as needed.
How MIP customers can move to the cloud
If you’re ready to migrate to the cloud, we’re here to help. Our process is seamless for your organization and accounting professional users.
- We make a space for your data in our cloud environment.
- You back up your data and upload it to us through a secure link that only you access.
- We restore your data to a new cloud location. The entire process takes just under 4 hours
- That’s it! Your organization is then in the cloud. Each of your preselected users receives an email invitation to the new system, and you can start using MIP® Cloud.
Take Advantage of Cloud-Based Benefits Today
MIP Cloud provides a secure, scalable, and customizable software solution for your nonprofit’s financial and HR management needs. Because we designed our software with nonprofits in mind, we provide specialized functionality to meet your unique needs, with over 20 configurable modules.
Are you ready to move to the cloud? Request a live demo today.
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