It's Complicated
October 25, 2017
It's Complicated
Score 3 out of 10
Vetted Review
Verified User
Overall Satisfaction with Financial Edge NXT
Financial Edge is being used essentially across the whole organization, in conjunction with Raiser's Edge. We have two conference centers that are attempting to complete the entry of June data, as we are in the Home Office. We use all the modules except Student Billing, as we are not an educational institution.
- Accounts Payable has been a fairly easy module to learn, and I have used it successfully for nearly 4 months. It is fairly intuitive, once you learn the process.
- Payroll was quite an adjustment, but appears to give us more accurate data than our former software. We have been using it for nearly 5 months.
- General Ledger appears to be fairly easy to use, but since we have not closed our first month yet, that being June 2017, it remains to be seen.
- As we have yet to close June 2017, we have encountered many issues, had a multitudes of chats, and quite a few sessions where support has had to remote in to fix or gather data for engineers to fix issues. One issue unresolved is the accrual of leave in payroll. Engineers are still working on that one.
- Another issue that has FE folks stumped is the recording of manually entered gifts in RE not coming over into FE. We cannot close June until that is resolved.
- For some odd reason, my printer has disappeared twice from AP, to where I can't print checks. They had to get a duplicate of our database and fix it on their end the first time. Support had to remote in to correct the issue the second time - but it delayed paying bills significantly both times.
- We had an issue with Pennsylvania local withholding taxes that never got resolved. They gave us a work-around, but I will have to go into dozens of W-2's in January to move the taxes to the correct box. Can't wait.
- We have not seen a return on investment yet, that I am aware of, as we are way in the whole with the up front expense.
- Operational efficiency
- Improved data accuracy
- Improved insight into your organization's performance
- Better ability to report to funders and key stakeholders
- Faster month-end process
- Automation of business processes
- Reduced IT expenditure due to cloud deployment
Perhaps in a few months, after we have successfully closed a month or two, I could say we have achieved a few of these, but at this point, it is still up in the air as to whether we will achieve any of these.
We have successfully used Raiser's Edge as our donor database, and it has been quite helpful in tracking revenues and keeping in touch with our donors. The query process has been exceptionally helpful in pulling specific data out, and making educated decisions moving forward.
We did not evaluate another software, that I am aware of.