We’re happy to share how Serenic Navigator helped solve APA’s need for integrated nonprofit financial and supply chain management software.

The American Psychological Association (APA) has over 150,000 members and over 500 employees with executive and administrative offices, a publishing operation, five substantive directorates, 54 divisions, a 501(c)(6) companion organization and two real estate LLCs.

The APA was looking for a financial management software solution for a nonprofit association and supply chain management for their publications division. Some of the goals of the accounting system included:

• real-time financial reporting capabilities
• improved workflow
• automated integrations between systems

AVF Consulting presented Serenic Navigator, our fund accounting software built on the Microsoft Dynamics NAV platform.

“Serenic provides us with the ability to integrate our financials and supply chain management for a single, centralized, up-to-date customer ledger and accounts receivable,” says Jerry McGlaughlin, Senior Director of IT Planning and Business Management for the APA . “We anticipate significant workflow efficiencies, better access to data, and improved inventory management.”

Thank you to AVF Consulting for bringing this latest client aboard and implementing our software.

Evaluate your existing financial solutions with these questions:

1. The USCCB recommended the use of the FASB standard financial presentation. Does your current system facilitate this type of reporting?

2. Catholic schools are being challenged by increased operational costs and an economy in which families are opting to send their children to public schools because of the cost. Have you reviewed the administrative operations of schools and parishes to find potential economies of scale by centralizing functions such as payroll processing?

3. Would centralizing each organization’s fundraising activities and/or providing more detailed information on how funds are managed /spent assist in securing larger contributions from parishioners? Do you have such a centralized system in place?

This concludes our series about how Serenic can save time on financial and accounting tasks for diocese, and help you focus on your core mission.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

Last week, we took a look at some of the benefits of installing one integrated financial management system across a diocese’s central office, its parishes, and schools. This week, we’re looking at a few more of the benefits that can help increase overall operational efficiency.

Thanks for learning more about how Serenic can save time on financial and accounting tasks, and help you focus on your core mission.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

Benefits for Dioceses

The right financial management system should support and enhance the unique workflow processes of dioceses to help increase operational efficiency, manage cash flow and investments, and generate detailed financial reports. With one system installed across a diocese’s central offices, its parishes and schools, it can expect to realize these benefits:

Check back next week as we discuss more of the benefits for Dioceses.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

Financial controls are actually a subset of internal controls and typically refer to segregation of duties. The right financial controls ensure that the person entering invoices to be paid, for example, is not also able to mark the checks for payment or cut the checks without someone else’s involvement in the process. It is important that such processes are in place throughout a diocese, however, this becomes challenging in smaller parishes where there is only a part-time bookkeeper using a manual or moderately automated system. The financial controls need to be documented and monitored, especially if using a manual method. A computerized application through which these “duties” can be limited and the controls enforced with the system security, therefore, is an ideal solution. Dioceses might examine the economies of scale created by centralizing processes and – if possible – provide access for smaller parishes to computerized solutions that they may not be able to afford on their own.

Faced with the ultimate responsibility of the entire diocese, such a financial control system needs to possess certain attributes to ensure fiscal needs are met. Requirements for an enterprise-wide solution include:

• Effective and efficient processes – System should eliminate duplicate entry; automate manual processes; provide economies of scale; provide services from within the diocese finance department to all areas of the diocese (e.g., payroll). Investment is best in an application that can be rolled out and phased in over time to provide a costeffective solution with economies of scale. A vertically focused solution embedded within a leading mid-market application platform adds tremendous value, because it is
designed to be scalable to serve diverse needs while providing a set of industry-specific functionality (e.g. chart of accounts structure and adherence to key financial reporting standards).

• Reliable financial statements and accounting records – Software should provide a strong audit trail and reporting tools that enable easy ad-hoc as well as management-style report generation.

• Safeguard assets – A solution should provide the tools to manage investments and revolving loan funds as well as physical (fixed) assets; offer an audit trail and the ability to enforce financial controls.

• Adherence to management policy and procedures – System should, again, provide an audit trail and financial controls, as well as automated workflow and business rules to help prove that mandated procedures are being followed.

Check back next week as we discuss some of the benefits for Dioceses.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

We’re excited to announce the expansion of our Serenic Navigator Online (NOL) product suite, which is now available in three offerings:

• Serenic NOL Basic
• Serenic NOL BE (Business Essentials)
• Serenic NOL AM (Advanced Management)

Serenic NOL is a Software as a Service (SaaS) version of our award-winning Navigator financial management system. The cloud-based subscription model leverages Internet streaming functionality with access to Serenic’s financial management software for the term of the subscription. The Serenic NOL product features are designed to meet specific needs of nonprofit and public sector organizations, which are increasingly connecting to the Internet to automate and simplify business processes “in the cloud.”

“Serenic Navigator Online offers NGOs and nonprofits financial management functionality coupled with the advantages of a decentralized software deployment model,” according to our CEO and President Randy Keith. “Organizations with multiple offices, remote workers and distributed workforces especially benefit from using a cloud-based solution. If their situation changes for any reason, NOL clients can easily and cost-effectively transition to the on-premise version of the Serenic Navigator financial management suite.”

NGOs and nonprofit organizations can download the Serenic Navigator Online Success Kit or informative white paper for more information.

Over the past few years especially, reports of financial scandals within the Catholic Church have flooded the media and prompted
new recommendations from church governing bodies. A widely publicized 2006 survey by researchers at Villanova University found
that 85 percent of Roman Catholic dioceses that responded had discovered embezzlement of church money in the last five years, with
11 percent reporting that more than $500,000 had been stolen.

The USCCB Accounting Practices Committee (APC) concluded that “the vast majority of the aforementioned frauds appear to be occurring at the parish level. At the APC meeting in January 2007, this topic was thoroughly studied and several recommendations were made to enhance the financial governance in the 19,000+ parishes.”  The group’s Accounting Report recommended the use of
the Financial Accounting Standards Board (FASB) standard financial presentation.

Previously in 1995, the United States Conference of Catholic Bishops (USCCB) created the Diocesan Internal Controls, making the Bishop
effectively responsible for the entire diocese. The forward stated that “all administrators are to perform their duties with the diligence of a good householder. The bishop can delegate the authority but not the responsibility. He has the duty to ensure that no abuses exist in the administration of church goods within the diocese.”

The Villanova study suggested that whether an organization is a Fortune 500 company or a diocese, the objectives of the internal control structure remain the same (2):
1. Provide reliable financial statements and accounting records
2. Safeguard the entity’s assets
3. Promote operational efficiency and effectiveness
4. Promote adherence to the mission of the Church or organization

Check back next week as we discuss the requirements of a financial management system.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

Serenic recently sponsored a nonprofit accounting special report in The NonProfit Times titled, “Accounting Software – Audits and lawsuits and floods, oh my!”  We were pleased to sponsor the article and also provide some good insight into the importance of robust fund accounting software in today’s financial world.  As many know, accounting software is essential to the daily operations  of any nonprofit where audit trails, reporting and transparency are a must have.

In the report you’ll see our own David Abel, VP of client services, state the following:  “Clients often perceive adding document imaging to the procurement process as being cumbersome and electronic approvals as creating bottlenecks.  However, an automated system, implemented properly, will provide benefits that substantially outweigh the added steps. Without these tools, it is easier to lose the audit trail and avoid the approval chain since manual processes can be easily circumvented.”

Also included are wise tips from our CFO, Paul Johnston, “Ignoring due dates can be a total disaster, or thinking that you’re prepared but not checking and reviewing, having working papers that are poorly constructed, can cause problems and drive up your audit cost.”

And as Paul also points out, motivating your staff to use the tools correctly is vital.  “If you’ve got a dismissive attitude toward the audit or toward your backup plan you will have problems. If you have a good attitude you’re going to save money and time and the process will go more smoothly,” said Johnston.

Be sure to check out the full article which reminds us all, “Accurate financials are the cornerstone of a well run nonprofit.”

For all organizations in the nonprofit sector, financial transparency is synonymous with survival. Dependence on donors necessitates an ongoing demonstration of where money is spent and how funded activities and programs fulfill defined mission statements. While Catholic dioceses are not required by law to be transparent and accountable, there is a definite shift towards the production of financial reports that provide a complete picture of the financial health of the entire diocese from the bishop’s and archbishop’s office down to the parishioner donor level.

Recent events have emphasized the importance of financial transparency. From embezzled funds to extortion, indictments have been handed down within the Catholic Church and a strong case has been built for not only increased scrutiny, but for better safeguarding of a diocese’s assets.

Like any nonprofit group that constantly works to do more with less money and resources, it can be a daunting challenge for dioceses to provide a more holistic financial view of multiple, complex layers of the organizations in their areas of service. From schools and parishes to cemeteries, there exists a strong need for the chancery office to help each operating center succeed without adding a huge burden to its own management responsibilities.

Challenges at the organizational level include Catholic schools facing increased operational costs and a market in which many families cannot afford the expense of private schools. Nonprofits, in general, today are faced with declining donations in an uncertain economy.

Check back next week as we discuss the increased need for financial controls.

Access the “Achieving Financial Transparency for Dioceses” FREE whitepaper.

I’ve been working with Medair for the last couple of months on the requirements gathering, planning, and remote training sessions so we can implement Serenic AwardVision (nonprofit grants management) and Serenic Fixed Assets.  Both are replacing manual processes and providing the NGO with streamlined reporting.

Medair was previously tracking grants in Microsoft Excel or Word documents and entering them as funds into Serenic Navigator.  This process has been a bit challenging for the finance department and the grant writers with respect to reporting and tracking the status of the grants, etc.  In addition to the challenges with reporting, Medair was manually processing the admin booking (indirect costs) and revenue recognition each quarter.  During our onsite visit in Switzerland, we wrapped up setup items and procedures and provided training to the project team, finance staff, grant writers and International Operations.  The team is very enthused to now have the ability to maintain the grants and reporting all in one system, with visibility into the status of expenses, recognized revenue, indirect cost and the many other data tracking methods available.

We also met with the finance staff and logistics department on management of the assets.  This is a manual tracking process (asset master record information, depreciation and disposals) that has been rather cumbersome for the team, especially with getting field office asset changes back to HQ or logistics.  Along with the Medair staff, we set forth the requirements to implement the Serenic Fixed Assets granule in February.

During my onsite visit, I was able tour the beautiful city of Lausanne, the second largest city on Lake Geneva and the location of the headquarters of the International Olympic Committee.  I experienced hot wine, real French crepes, authentic Swiss fondue and, of course, Swiss chocolates!  I probably gained about 5 lbs from over-indulging in the cheese and chocolates J.  Geert from Medair showed me some museums and the beautiful Lausanne Cathedral (originally built in the 12^th century), on his day off…how sweet!  The Medair finance department also invited me to experience a traditional Swiss dinner with raclette cheese, smoked meat and potatoes.   Thomas made a killer tiramisu (I know, this is Italian instead of French, but it was too good to leave out)!  The hospitality of the Medair team was incredible!

Of course, I had to add some excitement to the visit by setting a bowl of potato chips on fire, during apero (sort of like a happy hour/gathering).  Luckily, the Medair staff was well equipped with fire safety training to stomp it out. I was grateful nothing was damaged and nobody was hurt.  The Medair staff got a good laugh and snapped pictures during the fiasco (which I am not posting)!

All in all, it was a great visit and we made some major progress with the project.

Quiana Willard, Senior Application Consultant