Serenic Navigator for International Non-Governmental Organizations (NGO)
Managing a non-governmental organization (NGO) with global programs, a wide range of funding sources, and complex budgeting and reporting needs demand more than what standard accounting software offers. NGO accounting must ensure compliance with a variety of funder requirements, ensuring that money is spent in accordance with the funding terms. Not only is it important for NGOs to carefully track spending and related costing against – its programs and projects, but to also capture meaningful metrics and statistics that aid senior leadership and the organization’s funders to effectively measure the outcomes associated with the services provided, and related impact around the globe.
Serenic Navigator for NGO is a comprehensive cloud ERP solution, built upon the foundation of Microsoft Dynamics™ 365 Business Central, and integrates core financial management functionality with the sector-specific features required by NGOs.
Here is a detailed look at the benefits delivered by the Serenic Navigator for NGO solution:
- Reliable and proven performance based on the industry’s leading mid-market ERP solution platform – Microsoft Dynamics 365 Business Central
- Comprehensive fund accounting engine designed to easily segregate, track, and manage financial activity by fund, award, project, program, geography, etc. – whatever your organization may require when reporting and analyzing organization-wide performance
- Support for multiple languages: (English (US), Spanish (Mexico), and French (France) along with multi-currency tools to manage financial activity across a global setting
- Multi-company consolidation with and the ability to process intercompany transactions; thereby reducing dependency on manual process and the associated accounting errors that could result
- Budget, track, and report on personnel expenses by projects or against specific funds
- Easily set up budget approval requirements prior to posting to a G/L, and budget “what if” calculation scenarios for improving accuracy and planning
- Ensure funder restriction compliance, accurate grant reporting, and funder or award level rules for automatically calculating and posting indirect cost recovery and revenue recognition
SOLUTION SCREEN SHOTS
Meeting Key Role Requirements:
Serenic Navigator for NGO targets the following solution objectives for the following roles:
Improve compliance, accountability and reporting requirements to key stakeholders.
Improve staff productivity with automated workflow to streamline accounting tasks.
Automate calculated transactions, such as those allocated based on percentages and the allocation of pooled revenue and expense accounts.
Improve financial control with real-time visibility of important program costs and supporting operational data.
System-based enforcement of internal controls.
Accurate, timely and compliant management of grants, cooperative agreements and supporting programs.
Comply with funder instructions for start/end dates, milestones, indirect cost calculation, matching share requirements and other Terms & Conditions.
Track real-time expenses associated with the grant, pulled directly from your financial systems to eliminate redundant and conflicting data.
Full audit trail for all transactional data to support the required reporting for external audits and grantor review.
Manage complex combination of varying pay cycles, contracts, and retirement calculations.
Track payroll information against jobs, define unique pay cycles, track, and calculate commissions and more.
Compliance reporting and retirement calculations for federal, state, and local authorities.
Reduce burden on HR with a secure employee portal giving immediate access to view pay stubs, W-2s/T-4s, absence history, W4 and local tax settings, and direct deposit information.
Control costs by leveraging modern, reliable solutions, available 24/7, to improve business performance.
Protect sensitive data in a secure system accessible only to authorized users.
Scalable solution, minimizing IT requirements and physical data storage.
Serenic is partnered with Microsoft who has a 99.96% uptime guarantee, which includes both high availability and disaster recovery at the regional level.
Serenic Navigator for NGO:
From core fund & encumbrance accounting software to specialized financial management, Serenic Navigator will help you focus resources on your mission with efficiency and transparency.
- Multi-entity, multi-currency support to manage your various regional missions, fundraising and revenue-generating activities
- Consolidation of multiple companies and the ability to enter intercompany transactions; thereby eliminating multiple financial statements and data entry errors
- Meet FASB requirements issued by Accounting Standards Update (ASU). Manage and report on multiple funds and fund types, and fund classes that meet FASB requirements. Create FASB reports for key stakeholders including management, board members, auditors and the accounting team.
- Integrated purchasing and accounts payable
- Comprehensive financial reporting, with flexible views for management, boards, donors, funding agencies, and auditors
Accurate, timely and compliant grant management is essential. Serenic Navigator for NGO automates the process so that you spend less time on paperwork, while increasing your chances of securing future awards with our robust grant management software.
- Pre-award estimates, budget integration, and document storage
- Post-award management of multi-year funding, obligations and program execution
- Expense monitoring to avoid over- or under-spending, including sub awardee expenses
- Compliance reporting
Streamline your budgeting process and then manage the entire budget lifecycle to ensure your strategic plans are executed as planned and on budget. Functionality includes:
- Budget preparation, including rollup of distributed budgets and what-ifs
- Real-time expense monitoring vs budget
- Administration of budget rules, modifications and approvals
Payroll is must be completed efficiently, accurately and on time, every time. Frequently, a NGO can have complex payroll and human resources challenges such as varying pay cycles, contracts, employment type regulations and calculations. Serenic’s payroll & human resources functionality helps you keep pace with the ever-changing needs of your workforce, including:
- Employee tracking
- Benefits administration and leave tracking
- Position control and compensation management
- Payroll processing, including direct deposit
- Compliance reporting and retirement calculations for federal, state, and local authorities
Analytics & Reporting helps you make better decisions, faster. Analytics allows you to monitor key performance indicators (KPIs), track actuals vs budget or estimate, and answer ad hoc questions—with data broken out and sorted by department, award or funder, date range or any other criterion.
- Pre-configured standard dashboards for general ledger
- Access to dashboards on laptops, smartphones and tablets
- Drill-down to detail capabilities
- On-the-fly filtering, sorting, report development and saving of views
- Export to MS Excel, PDF, HTML, and email with the click of a button
NGOs may manage banking and account deposits, and offer financial management services for their clients, such as loans or micro-loans for capital projects. Serenic’s integrated Deposits & Loans module allows you to:
- Automatically calculate the loan interest and principal
- Define loan interest as simple or compound
- Automatically release loan proceeds through accounts payable
- Generate lines of credit or amortized loans
- Set up loan maximums based upon user-defined amounts
- Assign optional finance charges to overdue loan payments
Field Connect allows your remote users to enter simplified general journals with or without an internet connection. If the user is offline when entering their transactions, Serenic Navigator will synchronize between the Field Connect client and your main database the next time the user connects to the system. Accounting personnel at headquarters can revise, reject or post all or some of the transactions. Additionally, any Validation Rules will be enforced, even when working off-line. Field Connect allows your field worker with limited access to the internet to:
- View available funds, dimension values, GL accounts, vendors, customers, and bank accounts for use while working off-line
- Enter journal transactions and run reports at any time
- Be productive without formal accounting background.
Donors are the important to your organization. Serenic Software partners with multiple leading Donor Management solution providers to deliver integrated capabilities including:
- Online donation processing and product sales
- Event registration
- Donor management CRM
- Communications management
- Volunteer management
- Inventory management of offerings
“We’re impressed with Serenic’s ability to offer both fund accounting and cost management as well as provide great management reporting. Our program management team can now focus more time on programmatic innovation.”
“Serenic Navigator’s consolidation feature has been key to merging financial transactions from all of our sites and enables uniform reporting across the four different countries in which we operate.”