Most nonprofits depend heavily on grants from philanthropic foundations, corporations, government agencies and high-net-worth individuals. Accounting for how those grants are spent, however, is one of the biggest financial administration pain points facing these organizations.

At the SuiteWorld 2017 keynote for nonprofits, Harish Moran, NetSuite’s Vice President of Solution Consulting and David Geilhufe, Senior Director of Nonprofit, detail the challenges confronting nonprofits today, including greater demand for information from donors, board members and even recipients, evolving business models and disconnects between the front and back office, and how NetSuite is helping overcome these challenges including the new SuiteSuccess for Nonprofits Industry solution.

In his keynote for SuiteWorld 2017, NetSuite Executive Vice President details all the new features in NetSuite, including global expansion, industry solutions, omnichannel commerce, global supply chain automation, advanced bill of materials, time sheets in SRP, project profitability reporting, NetSuite for Agencies, NetSuite’s commitment to nonprofits, performance improvements, SuiteCloud platform enhancements, and new integrations between NetSuite and Oracle Planning and Budgeting.

In the opening keynote from SuiteWorld 2017, NetSuite Global Business Unit Executive Vice President Jim McGeever shares what’s next for NetSuite and the industry. McGeever announces SuiteSuccess, a new industry cloud solution, and SuitePeople, core HR functionality built onto the NetSuite platform.

For the Legal Aid Society of Rochester (LASROC), every dollar saved on administrative efficiency is a dollar that can go toward providing legal services for the roughly 10,000 low-income individuals the nonprofit serves across a nine-county region in central New York.

Amid the bright lights and bustling casinos of Las Vegas, developers, customers, partners and NetSuite Global Business Unit employees will come together to use their professional skills for good at the Hackathon 4Good at SuiteWorld. Set for Monday, April 24, the first day of SuiteWorld, NetSuite’s customer conference, close to 100 participants will spend the day developing innovative prototypes to address the challenges posed by a NetSuite nonprofit customer.

It is no secret that nonprofit business models are constantly changing. While the innovation is exciting, it’s also causing sector complexities to grow like weeds. The nonprofits that thrive are embracing this next wave of change, instead of shying away. Due to the agility of its software – NetSuite’s nonprofit customer base is growing exponentially, thus (to no surprise) pushing an increased industry presence at our upcoming user conference, SuiteWorld.

With more than 1.8 million nonprofit organizations operating in the United States alone, providing 5.4 percent of the nation’s entire GDP, the nonprofit sector has increasingly proven itself as a key player in today’s business landscape. Similar to the for-profit sector, this strong presence and reach also comes with complexities. 

As one of the world’s tropical equatorial nations that produce the raw material for chocolate, the Philippines is experiencing growth as an exporter of chocolate. Not coincidentally, Theo & Philo is growing in the Philippines as well. A maker of premium artisanal chocolates, Theo & Philo is the brainchild of Philo Chua, who developed a love of cooking with chocolate while working as an IT programmer in Pittsburgh, PA. 

Jorn Lyseggen founded Meltwater in 2001 with only $15,000. As of 2016, the company has grown to serve more than 25,000 clients around the world and is now a global leader in the online media monitoring and analytics space. Encouraged by that success, Lyseggen, who believes that talent is everywhere, went on to create the Meltwater Entrepreneurial School of Technology (MEST) to give aspiring entrepreneurs in Africa a chance to create successful companies and create jobs and wealth locally.

Eleven years ago, when AbilityNet, a UK-based nonprofit providing technology accessibility services for disabled and older people needed to modernise its operations, a cloud-based system was a major consideration. As a lean, nonprofit organisation, AbilityNet did not have the staff or budget for a large upfront investment in on-premise software.

We are right around the corner from 2017, and one can always count on a new year bringing change. For financial leaders in the US nonprofit sector, 2017 brings the first makeover issued by the Financial Accounting Standards Board (FASB) since 1993. 

In the first SuiteWorld keynote address targeted specifically at nonprofit organizations, Harish Mohan, VP, Solution Consulting and David Geilhufe, Sr. Director, Nonprofit Vertical, of NetSuite address "Social Impact, Accelerated: How Your Nonprofit's Back Office Can Change The World." 

Stories about our clients and our impact are at the heart of the nonprofit sector. Development and marketing departments tell those stories to evoke emotional reactions through bold statements, compelling images and a myriad other tools and strategies.When was the last time you were emotionally inspired by how effectively a nonprofit stewarded your donation? 

Li Kin Pang will never forget the first woman her nonprofit organization, Image Mission Ltd, helped. A mother of three, the woman, whom we'll call Mae, had been the victim of domestic violence, and as a result had been forced to move with her children into her mother's one-room apartment. With so many pressures facing her, Mae kept her goals small, telling Pang that her dream was simply to get a job so she could afford her own apartment.

Good financial management is critical to the success of nonprofit organizations, even if it might not be the most exciting topic. Every organization is challenged with delivering better transparency to constituents and being effective stewards of donor resources. Beyond the basics, they need to connect the dollars they raise and spend to the outcomes their organizations seek to achieve.