Blackbaud Releases Intuitive Cloud Accounting Solution for Nonprofit Community
General Availability of Financial Edge NXT Adds to
Blackbaud’s NXT Solution Line and Again Breaks Early Adoption Records
Charleston, S.C. (September 22, 2015) — Blackbaud, Inc. (NASDAQ: BLKB), the leading provider of software and services for the global philanthropic community, today announced the general availability of its cloud accounting solution, Financial Edge NXT, which adds to Blackbaud’s NXT solution line.
With more than 100 enthusiastic nonprofit customers already live on Financial Edge NXT prior to today’s general availability announcement, another powerful cloud offering in Blackbaud’s NXT solution line has broken the company’s early adoption records.
“The general availability of Financial Edge NXT marks another important release in a wave of continued innovation Blackbaud has brought to the industry over the last 12 months,” said Mike Gianoni, Blackbaud president and CEO. “With Financial Edge NXT, nonprofits now have access to the most innovative, intelligent accounting solution in the cloud.”
Early nonprofit adopters have been consistently giving high marks to Financial Edge NXT for power, capability and reliability. “Financial Edge NXT is how accounting software should be – customizable, intuitive, and fully portable,” said Jennifer Johnson, CFO and vice president of Senior Resources Association. “Blackbaud is dedicated to giving their customers the best software tools in the industry and this is evident with Financial Edge NXT. It is easy to learn and navigate, all while providing robust financial grant reports and monitoring.”
Financial Edge NXT is the second release planned as part of Blackbaud’s NXT solution line, the industry’s most advanced and only cloud suite built exclusively for nonprofit organizations. The NXT solution line is a complete, fully integrated solution set developed with a modern architecture that allows rapid, ongoing capability updates. It offers best-in-class, trustworthy accounting with Financial Edge NXT and unprecedented fundraising and relationship management innovation with Raiser’s Edge NXT.
Financial Edge NXT gives nonprofits:
- Comprehensive fund accounting with general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more
- Powerful, flexible, real-time reporting—with one-click drill-down and easy export—to enable timely, data-driven decisions
- Efficient grant and project accounting to help nonprofits budget, monitor, and report with confidence
- Elimination of manual and duplicative data entry processes to help save time and promote data accuracy
Prior to today’s announcement, product trials had already spurred enthusiasm across the nonprofit community for the much anticipated Financial Edge NXT solution. “We are excited about Financial Edge NXT for many reasons,” said Lawndale Christian Health Center CFO, Christopher Dons. “It provides us with powerful functionality—from advanced search capabilities that will save us time, to reporting power that we haven’t had before.”
Gianoni also commented about the company’s investment in the cloud: “Moving to the cloud is a big decision for nonprofits because they want improved capability with the assurance that donor and other data is going to be accessible and secure. Blackbaud takes this need seriously, from ongoing research and development to maintain our position of cloud leadership, to our investments in supporting our rapidly growing partner ecosystem. When customers choose the Blackbaud cloud, they have greater choice and flexibility, and are gaining access to the most modern, reliable solutions in the global philanthropic sector.”
For more information about Financial Edge NXT or the previously released Raiser’s Edge NXT, visit www.theNXTera.com.
Financial Edge NXT is the first-of-its-kind cloud accounting solution for nonprofits that’s intuitive, fully integrated, and built the way nonprofits need it. It is advanced technology with powerful reporting tools to help accounting teams drive transparency, stewardship, and compliance while enabling them to seamlessly manage transactions, eliminate manual processes, and more. No other nonprofit accounting software or cloud-based solution has the intelligence, accessibility, performance, and user experience that the NXT solution line delivers—all with dramatically reduced IT and third-party costs, hassle-free upkeep, and the world’s largest support network.
Serving the nonprofit, charitable giving and education communities for more than 30 years, Blackbaud (NASDAQ:BLKB) combines technology solutions and expertise to help organizations achieve their missions. Blackbaud works in over 60 countries to support more than 30,000 customers, including nonprofits, K12 private and higher education institutions, healthcare organizations, foundations and other charitable giving entities, and corporations. The company offers a full spectrum of cloud and on-premise solutions, and related services for organizations of all sizes, including nonprofit fundraising and relationship management, eMarketing, advocacy, accounting, payments and analytics, as well as grant management, corporate social responsibility, education and other solutions. Using Blackbaud technology, these organizations raise, invest, manage and award more than $100 billion each year. Recognized as a top company, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada, the Netherlands, 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 the introduction of new products and product features, as well as the expected benefits of the new 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.