Blackbaud has been synonymous with nonprofits for years as the backbone of many financial and fundraising departments. Whether it is their flagship fundraising program, Raiser’s Edge, or their leading financial product, Financial Edge, those who have worked at a nonprofit in the past 20 years probably have come across one of these products. While many nonprofits have used these products, there were several important announcements at last year’s Blackbaud conference, bbcon 2023, that could mean significant and high-impact changes for many users.
There were various announcements by the Blackbaud team, including the expected arrival of payment assistance, artificial intelligence tools within Blackbaud products, and additional enhancements to make an integrated all-in-one experience that will help bring nonprofits into the future.
Accounts Receivable Module
The most significant change announced was the upcoming release of an accounts receivable module that has been missing from their cloud-based platform FE NXT. Through this feature, Blackbaud will now have a fully functional web-based platform.
What does the new accounts receivable module mean for users?
FE NXT users will be happy to learn that this long-missing module is finally ready to be added to the web-based platform. Users will be able to perform all necessary functions of an accounting department within one screen. The accounts receivable module also is completely redesigned and has increased functionality. This new functionality will unlock extraordinary potential for how users do business within the system.
With full functionality in FE NXT comes the next stage for Financial Edge, the end of Financial Edge 7 (FE7), otherwise known as database view. Over the years, users have grown accustomed to and have gotten to know this system well enough that its usage has become second nature.
While Blackbaud is touting the full NXT Web View functionality coming in 2024, it has not released an official sunset date for FE7.
What does the end of FE7 mean for users?
For users who are still exclusively using FE7, this will be a major change to how they do business. While the FE NXT platform is mostly the same program, the way it functions is very different. Migrating to FE NXT needs to be coordinated and planned, and, if done thoughtfully, it can revolutionize a department. If organizations have not yet migrated to FE NXT, finance departments should consider looking into it sooner rather than later.
How FORVIS Can Help
This is a time of change for Financial Edge users, and, without the right preparations, an organization can find itself without the tools it relies on. FORVIS can assist organizations in planning for change. We can help you evaluate that you have the technological tools to capture your data and the ability to report it in a way that is meaningful to you. Our professionals can help nonprofits lead the way with cutting-edge nonprofit financial technology in today’s rapidly changing accounting environment. For more information, reach out to a nonprofit professional at FORVIS.