Adoption of Blackbaud’s Intuitive Cloud Accounting Solution Surges as Nonprofit Finance Executives Choose to Make the Switch
Organizations commend the value of Financial Edge NXT for performance, security and more
Charleston, S.C. (August 23, 2016) – Within less than a year following general availability, Blackbaud (NASDAQ: BLKB), the world’s leading cloud software company powering social good, today reported that adoption of Financial Edge NXT, its trustworthy cloud accounting solution, continues to increase with strong velocity among previous on-premise customers and new customers who are seeking reliable, higher-performance cloud solutions.
Leveraging Blackbaud SKY, the company’s modern, integrated and open cloud for the social good community, Financial Edge NXT is an intuitive cloud accounting solution that offers nonprofits advanced financial management capabilities and leading reporting tools.
“Since we designed Financial Edge NXT exclusively for the social good community, we expected it to resonate, but the market’s response in the first 12 months has been truly remarkable,” said Mike Gianoni, Blackbaud president and CEO. “Our high-velocity delivery model and trustworthy, high-performance cloud are bringing ongoing, best-practice informed enhancements to customers across our entire portfolio. Financial Edge NXT is no exception, and as we see an increasing number of customers making the switch, it inspires us to keep pushing the boundaries of innovation.”
Customers Applaud Financial Edge NXT as the Leading Nonprofit Cloud Accounting Solution
- Catholic Charities of Oklahoma City a former on-premise customer, transitioned after seeing the outcome of Blackbaud’s customer-centric product development process. “We’re very impressed with the innovation being delivered in Financial Edge NXT, I love its fast and intuitive reporting,” said Rebecca David, finance director. “I needed Financial Edge NXT to be faster and cleaner, and Blackbaud’s product development team asked me specific questions to figure out how to do that. I knew I was an important part of the development of Financial Edge NXT – it was almost like I was putting my name on it!”
- By transitioning from another vendor’s legacy system to Blackbaud’s Financial Edge NXT, Fellowship Bible Church of Northwest Arkansas was finally able to meet all of its operational needs, including the ability to provide accurate and transparent financial data. “With Financial Edge NXT, we now have a true nonprofit fund accounting solution that meets our organization’s size and needs,” said Greg Saay, controller. “It gives us the functionality we need allowing us to operate at our fullest potential!”
- While in search of a powerful cloud funding solution that was backed by the full support of its manufacturer, Target ALS Foundation swiftly learned that Blackbaud was its perfect partner. “Financial Edge NXT is far more intuitive compared to everything else I looked at, Blackbaud fit the bill,” said Kenneth Devaney, treasurer. “They didn’t just sell me the solution, but helped us through implementing, developing and servicing the solution – Blackbaud is a full end-to-end provider.”
Nonprofits across various sub-industries and sizes are adopting Financial Edge NXT, including Water.org, University of South Carolina, Vermont Public Radio, Westchester Day School, and Children’s Hospital of Pittsburgh of UPMC.
Blackbaud (NASDAQ: BLKB) is the world’s leading cloud software company powering social good. Serving the entire social good community—nonprofits, foundations, corporations, education institutions, and individual change agents—Blackbaud connects and empowers organizations to increase their impact through software, services, expertise, and data intelligence. The Blackbaud portfolio is tailored to the unique needs of vertical markets, with solutions for fundraising and relationship management, digital marketing, advocacy, accounting, payments, analytics, school management, grant management, corporate social responsibility, and volunteerism. Serving the industry for more than three decades, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada, Ireland, and the United Kingdom. For more information, visit www.blackbaud.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including statements regarding expected benefits of products and product features. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; management of integration of acquired companies and other risks associated with acquisitions; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organization; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud’s investor relations department. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.