Financial review of a robust software platform
August 25, 2022
Financial review of a robust software platform
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Blackbaud Financial Edge NXT
Training at Blackbaud enabled me to set it up and work with it in less than 6 months. With the arrival of Financial Edge NXT, we adopted that platform. Product support during installation is invaluable. We also have Blackbaud host our data, which keeps our software up-to-date but gives us the security that I must have.- I am able to do budgeting, accounting, allocation, and accounts payable for the endowment and alumni relations. It has also enabled me to have department managers access their own departmental statements and monitor their actual costs against the approved budget.
- Reports can be generated by all staff with minimal training.
- Budgeting and preparing variances to actual can be done by all department chairs without going to accounting to have it done for them.
- Because we have over 270 endowed funds in our investment pool, the allocation module allows us to record income (divided/interest, realized gains/losses and unrealized gains/losses to all funds properly and efficiently.
- When creating journal entries, it would be more efficient if common fields could be. populated after the first line (e.g. date, journal reference)
- Have the interface between Raisers' Edge NXT and Financial Edge NXT be less cumbersome.
- Each allocation action for our 10 different fund managers takes at least 5 minutes to do the pre-allocation and another 5 minutes to post the entry.
- Some times the allocation module performs the allocation but when you go look at the journal for approval, the first 6 funds are not what was shown on the allocation.
- Budgeting
- Financial Reporting
- Managing all of our endowed funds.
- Accounts payable and posting to the general ledger.
- Can do much more with the system with fewer individuals.
- Able to use the system directly rather than upload journal entries.
- Able to answer questions about account balances and drill down to the detail.
No basis for an opinion
Do you think Blackbaud Financial Edge NXT delivers good value for the price?
Yes
Are you happy with Blackbaud Financial Edge NXT's feature set?
Yes
Did Blackbaud Financial Edge NXT live up to sales and marketing promises?
Yes
Did implementation of Blackbaud Financial Edge NXT go as expected?
Yes
Would you buy Blackbaud Financial Edge NXT again?
Yes