Financial Edge NXT is a cloud accounting solution tailored for nonprofits that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more. It offers real-time reporting, with one-click drill-down functionality and export capability.
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Stampli
Score 8.1 out of 10
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Stampli offers software to run any procure-to-pay (P2P) process — and Billy, an AI employee, to operate it. The platform unifies Procurement, Invoice Management, and Payments in one system that automates AP while keeping teams in control.
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Pricing
Blackbaud Financial Edge NXT
Stampli
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Blackbaud Financial Edge NXT
Stampli
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
Yes
Entry-level Setup Fee
Required
No setup fee
Additional Details
Blackbaud is currently offering the first six months of Financial Edge NXT free for new customers. Limited conditions apply.
The look of the reports and the platform is great. It's easy to lookup vendors and find some information. I wish the flow to navigate around the system was more intuitive. We tend to do more going back and forth to move to another vendor. It must be an easier solution. But that's the learning curve piece we need.
The Stampli tech is very good in processing our transactions and linking to our accounting system. And even for any pain points encountered, we have worked with their tech and customer rep teams (specifically [...]) to promptly resolve the matter in a seamless and pain free way (unlike our previous invoice processing provider).
Uploading and inputting information is easy due to a clear format and outline.
Researching and finding past information is quick and easy to navigate due to searching and filtering options as well as the ability to name the files for quick searches.
Pulling project titles and accounts - you can have a large amount of projects and accounts and are able to know them through the system without having to memorize each individual title.
Being able to export a general ledger for an account to excel while still being formatted correctly.
Having the ability to filter in what transactions are pulled in the general ledger. You are able to easily look at all the activity or only activity in a certain time frame or other specific filters.
There is always access to help from Blackbaud services for any sort of difficulty.
Learning and the ability to attend Blackbaud classes are readily and easily available so you can increase your knowledge and ability to serve well in your organizations' role.
Queries is not fully set up yet and could use more functionality within the reporting structure
Recurring payments do not seem to be moving forward and we have several annuities that run quarterly
Queue appears to be going away and report scheduling is coming, however, you cannot send to users outside of your organization. We run so many monthly reports that we used to have emailed out via queue that now we have to run them manually and save them to a sharepoint site for our campus partners to access.
A little concerned with printing checks once database view goes away since the one time I tried it the printing margins were totally off.
Integration of papersave products and cash receipts.
BB seems to forcing changes on customers at a faster rate. This company needs stability because it is understaffed in accounting. There isn't time to drop everything and work up workarounds or even try to judge effects. There also isn't the time to find a replacement suite unless things get really bad.
I cannot imagine going back to pre-Stampli processes. Our jobs in the Accounting department (not just AP) have all become more engaging because we've cut out so much mindless, non-value added work: data entry, signing checks, stuffing envelopes, stamping envelopes, etc.
I don't have much to compare it to but if I speak of just the reporting options; sometimes there are so many options I spend more time finding the "perfect" report when a basic report with minimal columns is needed. But I know I can always add to the report if asked.
No one is perfect, but this support team is as close as it gets. They respond promptly and if the person I'm talking to doesn't have the answer they find someone that does. They also provide documentation and/or resources to support their responses to my questions. The online chat is awesome and usually all I need
We have a dedicated rep (who was also our implementation rep--they stay with you after implementation) who we can email whenever needed and meet with every quarter. There is a chat option within the software that gets responded to by a real person within minutes.
The training is semi helpful if you have already been in the system. If you are completely new it does make it kind of hard since chart of accounts will be different among organizations. For a general idea it is helpful. One complaint on training would be that as FENXT is attempting to go fully to the web solution there were often times things that were moved or changed that even the trainer was unaware of and had to adapt on the fly.
The implementation can be easy depending on how familiar you are with Blackbaud products. It is cloud based so there is not a need for IT involvement but you do need to know your business requirement.
We lost an AP employee right as we were deciding to implement, so we had to speed up our timeline. We went from signing the contract to fully functional system within 4 weeks. We did not dedicate any more than 4 hours per week during the implementation.
Prior to using Blackbaud Financial Edge NXT, a financial software package offered by Sage was used. Blackbaud Financial Edge NXT is much more user friendly, and integrates with the fundraising software used by the Foundation, Raiser's Edge. The integration has eliminated duplicate entry of donor information into the financial software. In addition, the add-in tools provided by Blackbaud Financial Edge NXT make journal entries a much more efficient process.
Tipalti was not system friendly to what we needed (syncing with NetSuite) and the implementation process was frustrating. We experienced delays and no responses from their team. Stampli has been the complete opposite! It's user friendly, from approvers to coders, reasonably priced, and their team members are responsive, caring, and genuine in getting you set up for success
Record accuracy has gone up with Blackbaud Financial Edge NXT. We are able to keep everything separate using both natural accounts and projects.
The AP module has increased our speed in issuing checks. We are able to easily review and see where approvals may be stuck in order to get checks out promptly.
The approval chains and easily viewed records of approvals have helped our auditors easily track processes for internal control walkthroughs.
The best testament to Stampli is that is has decreased DTP (days to process) by over 3 days.
It has transformed invoice approval. No invoices are being sent duplicate times for approval by error. Stampli does a great job at identifying duplicate invoices.
