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softwarereview-150FastFund Online by Araize is an SaaS-based application that handles a wide variety of tasks for nonprofit organizations by seamlessly integrating nonprofit accounting, fund raising (CRM,) and payroll. The FastFund Accounting module is a true nonprofit accounting system designed to handle the unique requirements of nonprofit organizations, including FASB-116 compliant reports, multiple fund tracking, program and project accounting, budgeting, and customizable financial statements.

FastFund Raising tracks all donors, members, alumni, and constituents with cash gifts, pledges and in-kind contributions, campaign and event management, automated receipts, and customized reports. FastFund Payroll generates payroll for salaried and hourly employees, allows for the allocation of salaries and payroll taxes on hours worked or percentage, and generates all required federal and state filings.

In Use

FastFund Online is easy to set up and get started. The company provides free setup and consulting services for all new users to help them get the system up and running. Users can expect to be able to track all revenue and expenses by program, funding source, and fund, as well as to generate meaningful financial statements for internal use, audits, and outside funding sources. With the use of the Fund Raising module, users can improve communication to their donors, improving their fundraising efforts. By integrating the accounting and fund raising functions, users have the ability to save time reconciling their two systems and to reduce potential errors.

Technology Employed

FastFund Online is a true SaaS application. Users can sign on with any computer with an Internet connection. The company's servers are SAS-70 compliant and they guarantee 99.7% up time.

Ease of Use, Configuration, and Deployment

Users can get up and running in less than a day. Support is provided to help the user configure the system and design their account structure to deliver meaningful reports. Users can import names to speed up setup times.

Recap

FastFund Online was designed by Certified Public Accountants with extensive experience in the nonprofit sector. With over 27 years of experience, Araize has developed a new generation of software tools that will help a nonprofit maintain their entire back office accounting and development operations while properly managing grants, tracking programs, building donor relationships, and demonstrating accountability to funding sources with a single integrated system.

Nonprofit organizations recognize that proper financial management is the key to appropriate stewardship of funds and trust invested by donors and constituents. It is essential to have the ability to be responsive to financial inquiry, whether it is from management or external funding sources. FastFund allows nonprofit organizations to work more efficiently, provide more detailed information to manage programs, be prepared for audits, and help management make better and more informed decisions.

Pricing starts at $35 a month including support and all upgrades.

Advantages / Disadvantages

Advantages:

  • With a cloud-based solution, there are no major capital expenditures to get a comprehensive system

  • No software to install or maintain with upgrades

  • No networks to configure

  • Compatible with Windows and Macs

  • Data is secure

  • Supported by CPAs with extensive experience in the nonprofit sector

  • Seamless integration of accounting, donor management and fund raising

  • Single data base for all data, reduces duplication and redundancy

  • True nonprofit accounting

Disadvantages

  • System is down if you don't have an Internet connection

  • Pay for use pricing model

  • Its' not QuickBooks

My Opinion

The makers for FastFund Online have made a point to develop a product that takes multiple areas of nonprofit functioning into consideration. The goal is to streamline processes, allowing for a more efficiently-run organization. There seems to be a special focus on preparing for and managing audits, which is not something that every providers takes so seriously. Pricing for the product is very straightforward, as well, making it easier to budget. They also offer different training options that are quite affordable, even for the smaller nonprofit organization.

 


Last modified on Sunday, 19 May 2013
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