The financial landscape for nonprofits is undergoing massive change, facing challenges from evolving federal grant funding to the pressure of inflation and staffing shortages.
According to BTQ research, with 72% of nonprofits struggling with staff turnover and 36% experiencing cash flow issues, mission-driven organizations are discovering that traditional approaches to finance and accounting no longer suffice.
The combination of cloud-based accounting software and Finance as a Service (FaaS) offers a powerful solution, addressing immediate operational challenges and positioning nonprofits for sustainable growth and greater mission impact.
The Case for Modernization in Nonprofit Finance
Nonprofits face mounting financial and operational challenges — from staffing shortages to changing grant structures and inflation-driven cost increases.
Michael Blanton of Sage emphasized that the pace of change in nonprofit finance is unprecedented, noting how modern finance teams are being forced to adapt quickly to evolving funding environments and technologies.
“We’ve moved from asking, ‘Can we afford technology?’ to ‘How can we survive without it?’” — Michael Blanton, Sage Intacct
According to Sage research, the core internal challenges plaguing nonprofit finance teams have remained consistent:
- Limited process automation and outdated systems
- Inefficient, manual reporting
- Difficulty recruiting and retaining qualified finance staff
- Lack of real-time visibility into key metrics
By modernizing their systems, nonprofits can shift from reactive financial management to a proactive, strategic role that supports their mission.
The Power of Cloud Accounting for Nonprofits
Cloud-based accounting software — like Sage Intacct, BTQ Financial’s core general ledger platform — delivers automation, scalability, and transparency that traditional systems can’t match.
Joyce Denison of BTQ Financial explained that Sage Intacct is purpose-built for nonprofit accounting, offering essential features such as:
- Automated and customizable financial reporting
- Built-in grant management and fund tracking
- Multi-entity consolidation and real-time dashboards
- AI-driven automation to improve efficiency and accuracy
“At BTQ, we selected Sage Intacct because it’s designed specifically for nonprofits and empowers our clients with real-time, actionable insights.”
Cloud accounting allows teams to stay current with evolving technologies, enhance security, and integrate seamlessly with donor management systems — all while reducing overhead and IT dependency.
The Strategic Advantage of Finance as a Service (FaaS)
While cloud technology provides the platform, Finance as a Service (FaaS), as delivered by an expert like BTQ Financial, provides the complete solution—technology, people, and processes. FaaS eliminates the immense burden of managing a complex, internal finance function.
“Having a finance partner that can grow with you is critical as you get additional funding. Having a partner that knows what’s next and what’s required can really take your organization to the next level,” said Denison.
FaaS solves the main obstacles of moving to the cloud:
- Eliminates Long Implementation: BTQ provides a ready-to-go environment, getting clients up and running in 60 to 90 days.
- Fixed, Transparent Costs: Removing the high, variable cost and team-time drain of custom-building an ERP.
- Expert Talent: Providing full Finance & Accounting (FNA) function, including VP/CFO-level financial leadership.
This comprehensive partnership extends benefits beyond the back office. BTQ’s finance solutions empower every level of an organization:
- Program Managers gain accountability and insight into their specific budgets with transparent dashboards.
- Executive Leaders make more confident, data-driven decisions.
- Boards and Stakeholders have increased confidence and trust in the financials.
This partnership-based approach ensures nonprofits focus on their mission—not their month-end close.
Case Study: How The Door Transformed Its Financial Operations
When The Door, a New York City–based youth services nonprofit, became independent from its parent organization, it needed to rebuild its entire financial infrastructure.
Partnering with BTQ Financial, the organization:
- Modernized its tech stack using Sage Intacct
- Improved financial visibility and audit readiness
- Enhanced reporting and leadership decision-making
- Achieved over $1 million in savings within 2.5 years
“With those foundations in place, The Door was able to make faster, data-driven decisions and strengthen its financial health.”
This case highlights how modern financial solutions not only streamline operations but also deliver measurable cost and impact benefits.
Partner with BTQ Financial to Elevate Your Mission
Nonprofit finance is about enabling mission success. With BTQ, your organization gains a trusted partner to deliver efficiency, visibility, and strategic insight.
Ready to elevate your organization’s financial operations?
BTQ Financial helps you transform financial management into a growth catalyst for your mission.
Request a consultation today and discover what mission-driven finance can look like for your organization.