Four Important Efficiencies Gained by Using Integrated Software
For most non-profit housing providers, bookkeeping and financial reporting are only a part of the many administrative requirements for efficient operation. And since software is often used to assist with these requirements, it’s not unusual for a housing provider to rely on a suite of separate programs to accommodate their needs.
For example, one program may be used for bookkeeping/financial reporting, a second for RGI calculations, a third for work order maintenance, a fourth for payroll and perhaps even a fifth for wait list management. Of course, some organizations may choose to perform some of these tasks manually, like RGI calculations and/or wait list management.
It should come as no surprise that there are significant operational efficiencies to be gained by using software that can integrate all the functions described above. Below, we discuss four of them.
Real-time Visibility – Using multiple programs to handle the various aspects of operating a non-profit housing complex usually results in the inability to synthesize a complete view of the organization’s position in real-time. A fully integrated system automatically synthesizes data across functions and gives the housing provider the ability to make important decisions based on information that is comprehensive, accurate and up-to-date.
Increased productivity – With integration comes commonality; a familiar interface that governs a range of features and functions and eliminates the data overlap that often occurs when separate systems are used. This, in turn, ensures that staff does not have to learn multiple programs, does not need to switch programs to record related information, and can avoid wasting time duplicating data.
Minimization of Errors – When information is recorded in disparate systems, some of that data must be duplicated. For example, if RGI calculations are performed manually or with a program different from the one used to maintain the rent register, the results of those calculations will likely need to exist in both systems. Likewise, if payroll is generated using a dedicated program or service, payroll data will need to be duplicated in the program used for financial reporting. Every time data is duplicated, there is a greater chance of errors creeping into one or more systems, compromising the integrity of resulting reports.
Lower Costs – The costs associated with maintaining multiple software programs are almost always going to be higher than the cost of maintaining one integrated system. This is not only true in terms of maintaining the software itself (i.e. annual renewal fees to ensure the software remains current), but also in terms of training and support.
When the original version of NewViews accounting software was released in 1985, it was recognized as one of the first accounting software products to offer true integration in real-time. In 2014, NewViews for Non-Profit Housing was launched to meet the specific needs of non-profit housing providers and includes an RGI Calculator, work order management and wait list management.
This blog post is brought to you by Q.W. Page Associates, the developer of NewViews NPH, and proud ONPHA Select Partner. NiewViews is considered by many to be the software of choice for non-profit housing providers in Ontario and across Canada. Learn more about exclusive discounts for ONPHA members.