Public sector organizations are under pressure to keep up with strict financial reporting and transparency demands. These expectations are especially challenging when the organization is operating with legacy or siloed systems, causing inefficiency and, ultimately, poor service for the community they serve.
If you’re facing these issues, you should consider an ERP solution designed with organizations like yours in mind. Today’s public sector ERP solutions go beyond the basics of financial reporting – they’re being upgraded constantly with new features to meet your specific needs.
Explore three features of public sector ERP solutions that could improve your operations and keep them on track with today’s advancing technology standards.
1. Fund Accounting
Public sector organizations bear an enormous accountability burden because of the need to meet Governmental Accounting Standards Board (GASB) reporting standards. Having fund accounting features to help track and manage funding or endowments is essential to meeting these standards.
Many funds are given to public sector organizations to be used in a specific way – for a certain project or at a certain time. Meeting all of these requirements and reporting on fund usage at a granular level is time-consuming and complex.
A fund accounting feature designed specifically for public sector organizations streamlines your fund management process, making it easier to keep track of revenue and expenditures and meet the requirements associated with your funding.
2. Cloud Capabilities
Many public sector employees are constantly on the go. Wouldn’t it be helpful to have an ERP software solution that keeps up with its busiest users? Instead of being tied to a desk, employees in your organization are able to access public sector ERP platforms anywhere, using the cloud.
With cloud-enabled public sector ERP solutions, your organization increases its agility and flexibility. Instead of returning to the office to use the software, all the data that employees need is at their fingertips, thanks to a full-cloud platform. In fact, many ERP solutions offer apps for mobile access to their platforms via smartphones and tablets, taking accessibility a step further.
If you have concerns about the security of using cloud public sector ERP solutions, talk to an ERP expert about which solutions are best for keeping your data safe.
3. Subscription Pricing Model
A public sector ERP platform with a subscription pricing model offers a number of a benefits to your organization. For one, it’s likely that your organization does not have a team of IT professionals with the time to maintain an on-site ERP solution. By using a full-cloud SaaS solution, you have access to all the capabilities of a regular ERP solution without the burden of hosting it yourself.
The monthly subscription pricing model is also beneficial. Your organization may not have the capital to pay up front for a public sector ERP solution. Instead, a monthly payment is easier to maintain, and is similar to any of your other regular operating expenses.
These public sector ERP features allow your employees to streamline and simplify operations, putting time back into their schedules and empowering them to focus on other responsibilities. Your operations will become increasingly streamlined, and your organization will be running at new levels of efficiency.
Want to learn more about finding the right ERP solution for your needs? Download this free whitepaper now.