Financial Edge by Blackbaud


 

Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more.

With a personalized dashboard and customizable views, Financial Edge NXT enables users to closely monitor income statements, program-to-expense ratios, cash balances, and other key metrics. Financial Edge NXT offers real-time reporting, with one-click drill-down functionality and export capability, to enable data-driven decisions in real time.

As a Blackbaud product, Financial Edge NXT is backed by a company with three decades of experience in the nonprofit market. The system allows users access to grant and project accounting that allows for streamlined management of budget, as well as a way to effectively monitor accounts and generate reports. By using Financial Edge NXT, nonprofits can reduce dependency on manual processes, improving data entry accuracy.

 

Financial Edge by Blackbaud - General ledger
 
  • Financial Edge by Blackbaud - General ledger
    General ledger
  • Financial Edge by Blackbaud - Accounts
    Accounts
  • Financial Edge by Blackbaud - Payables
    Payables
  • Financial Edge by Blackbaud - Treasury
    Treasury
Supported Operating System(s):
Windows 7, Windows Vista, Windows XP, Mac OS, Web browser (OS agnostic), Windows 2000

54 Reviews of Financial Edge by Blackbaud

Showing 1-20 of 54

 

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Hyo (Max) from
Specialty: Non-Profit
Number of employees: 51-200 employees Employees number: 51-200 employees

May 2017

May 2017

Blackbaud Financial Edge is easy to use.

Ease-of-use

Functionality

Product Quality

Customer Support
N/A
Pros

Financial Edge is user friendly, and offers a variety of customizable reporting formats. Built in links from sub-ledger to general ledger allow for drilling to move along quickly.

Cons

We recently upgraded to a hosted database from housing on our own server. There have been some issues with processing delay and getting kicked out.

 
 

Jana from Children's Museum of Houston
Specialty: Non-Profit
Number of employees: 201-500 employees Employees number: 201-500 employees

May 2017

May 2017

Financial Edge NXT - what was promised has not been delivered.

Ease-of-use

Functionality

Product Quality

Customer Support
N/A
Value for Money

We regret moving to this cloud based platform. We should have stayed with the regular old FE.

Pros

Nothing. What was promised was not delivered. We have two locations and used to be able to function on one platform. In the cloud based version we have to log in and log out to go from one location to the other. It has definitely slowed our productivity.

Cons

It is slow, cumbersome and the reports that we were led to believe to be available are not part of this version. All excel reports have to be reformatted.

 
 

Brian from Birch Family Services
Specialty: Non-Profit
Number of employees: 1,001-5,000 employees Employees number: 1,001-5,000 employees

March 2017

March 2017

Financial Edge NXT Not Ready for Primetime

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

After seeing the NXT demo, it was clear that moving to the new platform would provide our business with all the functionality we were missing in our on premise thick client version. THIS WAS A BIG MISTAKE! Although during the demo it was clearly stated that some of the modules would not be moved from the old version to the new, it was not stated that features in the NXT migrated modules would not be available... so if you are working in say AP and rolling along with your work, you might hit a feature set that does not exist in NXT and requires you to switch to the Citrix version think client. It turns out that only a small percentage of the system has been migrated to NXT. This plan to migrate the modules and functions within the modules in realtime is a massive failure. The performance hit moving to the cloud was intollerable. GL uploads take twice as long even after assessing bandwidth and attempting to do the uploads on the local Blackbaud servers in the cloud. Its as if they did not build the environment robust enough to support the client base. There were features that simply did not work. Printing is problematic and the WebPortal for purchases and requisitions simply does not work. It fails with a web browser error. They said they fixed it as they had identified a node that was not turned up (you would have though they would have a monitoring tool to know this was the case) but this did not solve the problem in the end. Screen lockups, and crashes began to occur and yet there was no one who could effectively analyze the issues and solve the problems. We now have to roll our database back to our on premise version and search for a new solution. We will not be using Blackbaud. Their support is horrendous; forget telephone support your could be on hold for an hour or more; we were able to get on chats but that took some time as well. It was not until we started yelling and escalating that we finally got some response because the number of open incidents was ridiculous. I'm sure their bread and butter CRM and Grand management apps are probably fine but hosted Financial Edge/NXT definitely not worth the money.

Pros

None...

Cons

Product just does not work.

 
 

Angelo from International American University
Specialty: Higher Education
Number of employees: 11-50 employees Employees number: 11-50 employees

March 2017

March 2017

Raiser Edge Platform

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Raiser's Edge is a very useful tool for any Non-Profit Business owner who wants to keep track of their donation and any important contact in the database.

Pros

I like how easily it can track donors donation and give us a complete data of the earnings for the month

Cons

It would be nice if we can scan a business card and easily enable to automatically populate the person information in the system

 
 

Parker from GFM Ministries
Specialty: Faith-Based Ministries
Number of employees: 2-10 employees Employees number: 2-10 employees

February 2017

February 2017

Blackbaud's Vast Functionality

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

We are a 501c3 and just started utilizing Blackbaud. Overall, we are quite impressed by the functionality. The Queries you can create from your database of contacts help to reveal crucial information about giving trends and communication updates. It's a pricey software, but the fact that they allow you contact their support directly for immediate assistance is a rarity and highly beneficial. This is why we dropped Salesforce and went to Blackbaud.

 
 

Emilee from Champion Window
Specialty: Non-Denominational
Number of employees: 11-50 employees Employees number: 11-50 employees

February 2017

February 2017

Awesome Program For Small Churches

Ease-of-use

Functionality

Product Quality

Customer Support
N/A
Value for Money

We used Financial Edge at the church I interned at in college. They had just switched over to this program and I liked it a lot, but it was very difficult for staff members who were not used to the cloud-based software. If you have a team of people who are easy to train or can adapt to a new program easily then this could make a world of difference in your church if you have used excel sheets or paper bookkeeping methods.

Pros

I loved how customizable everything is. You can create your own reports and it's easy to run them.

Cons

It's completely internet based so if you are caught without the internet you can't access the program. It's hard to make the switch from whatever programs you're using before switching to Financial Edge.

 
 

Yanli from Agricultural Research Foundation
Specialty: Other
Number of employees: 2-10 employees Employees number: 2-10 employees

January 2017

January 2017

Financial Edge for Non-profit

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

I have been using this product for several months. It is a great product, I really like it.

Pros

The product has a lot of features for fund, grant and project management which is totally necessary for our organization. The learning resources are rich, the technical support team is fabulous. Almost everyone I had talked with is very knowledgeable.

Cons

I like the import feature for any module, however the data has to be in csv file, you end up to switch from excel and csv a lot.

 
 

Charlene from Agricultural Research Foundation
Specialty: Other
Number of employees: 2-10 employees Employees number: 2-10 employees

January 2017

January 2017

Financial Edge

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

We are in the process of switching over to Financial Edge. This has been a quite a setup. The features that this offers for reporting are just insane! You may still need to customize a few reports but if you play with the system long enough you can manipulate what is there to work for you. The support team is amazing! They are right there to answer calls and if you are lucky enough to get a good one they might just share an email address with you.

Pros

Customer support
Upload your data input or do data entry, you can do either.
Reports are easy to use and read.
Cloud-based = work from anywhere

Cons

We had some issues but with the help of customer support we are working thru them and putting them behind us.
Set up is a little pricey but in the end, it will be worth it.

Advice to Others

Do your homework. Find out if the features in this are what you need. This may be more than you need. It may be less than you need. We are a unique group and for us we are adjusting it to fit us and our needs. In a few months, we will be pros!

 
 

Michael from Triumph Treatment Services
Specialty: Human Services
Number of employees: 201-500 employees Employees number: 201-500 employees

January 2017

January 2017

Financial Edge

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

As a non-profit, we have been using financial edge for 10+years

Pros

Feature packed
Great customer support.

Cons

Not the most user friendly

 
 

Stuart from TGCF
Specialty: Non-Profit
Number of employees: 51-200 employees Employees number: 51-200 employees

December 2016

December 2016

TGCF

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Very complex. Requires in house tech support to maximize utilization. Frequent hosting problems. High service cost/fees for using features.

Pros

My rep has been excellent in support. We appreciate his honest and timely replys. Software when structured is efficient.

Cons

Very complex. Not user friendly. High fees for features.

Advice to Others

Make sure u have a software specialist on staff. Beware of fees for credit card, team raiser, events module, etc. Employee training is vital.

 
 

Laura from GrantLinkX
Specialty: Philanthropic Foundations
Number of employees: 2-10 employees Employees number: 2-10 employees

December 2016

December 2016

Excellent

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

It is an all-inclusive, user-friendly software. Ithe is easy to use. When there may be questions or how to use features of the software it can take a little time to go through a guided tour with one of the assistants for the software but through hey are very well versed and explain and help.

 
 

Bill from Kohl Children's Museum
Specialty: Arts & Cultural
Number of employees: 51-200 employees Employees number: 51-200 employees

November 2016

November 2016

Functional and Stable with little enhancements

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

I am speaking about FE 7. I understand FE NXT offers more enhancements but from what i can tell the reporting blocks stays the same.

Pros

It is a stable platform and not difficult to understand.

Cons

Maybe because there are only around 4,000 clients using FE compared to RE's 15,000 clients the software appears to be built with functionality in mind. It feels like the software was made for those who wanted to integrate RE (that is why we have it) and not enhanced further to attract non-RE clients.

Advice to Others

Consider this platform if you use RE and a POS that can integrate. That was a huge draw. Besides this FE 7 is not flashy but that is kind of how accountants roll.

 
 

Mark from YWCA of Minneapolis
Specialty: Philanthropic Foundations
Number of employees: 501-1,000 employees Employees number: 501-1,000 employees

October 2016

October 2016

Very good software for nonprofits of all sizes

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

I have used Financial Edge 7 for Nonprofits after having used QuickBooks Online, Abila (fka Sage), and Microsoft GP Dynamics for nonprofit financials. I find Financial Edge to be the best of the four softwares that I have used. It is the most intuitive of the four that I have used. The biggest help to me is Blackbaud's outstanding support system. In addition to a great FAQ section on their website and many paid training sessions, Blackbaud offers a free chat service with knowledgeable tech representatives able to assist in most questions.

Pros

Intuitive mapping of how to complete processes, dynamic reporting and general ledger options, excellent support.

Cons

No ability to "drill down" into reports (something that is fixed in Financial Edge NXT), some slower processes in general.

Advice to Others

Blackbaud is moving its support and development fully into Financial Edge NXT. Watch for new developments in the software as they continue to release new features.

 
 

Stephen from Incarnate Word Academy
Specialty: Education
Number of employees: 51-200 employees Employees number: 51-200 employees

October 2016

October 2016

Great for Education

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

We implemented Financial Edge two years ago and are very happy with the system. The implementation phase took some time and planning, but having the system setup as desired has been great. We utilize the Accounts Payable, Cash Receipts and General Ledge modules of Financial Edge. We did utilize Student Billing, however with the merging of Smart Tuition with Blackbaud we made the transition to Smart Tuition. We do use Raisers Edge and Education Edge as well, which has proven helpful as the records can be shared across the various platforms.

Pros

Versatile and easy to navigate

Cons

Can be expensive

Advice to Others

Spend extra time setting up, as once everything is in place it works great.

 
 

Robert from UOF
Specialty: Non-Profit
Number of employees: 11-50 employees Employees number: 11-50 employees

October 2016

October 2016

Blackbaud Financial Edge (BBFE)

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

BBFE has both strengths and weaknesses, as might be expected. It is a true fund accounting software with the ability to handle thousands of funds. Being able to push data in and exporting data out are 2 features that are usually very important, and BBFE mostly does that well. BBFE allows for attaching various homegrown codes to the data at the fund, account, and transaction level. This is not a panacea but can be helpful. The software can be used in a fairly high volume a/p environment and the g/l functionality is also pretty good.

Pros

Exporting data is easy, so long as the export you are looking for is available. Importing fund codes is do-able but may require some significant preparation of the upload. BBFE allows for a seemingly unlimited amount of codes to be attached to funds, accounts, and transaction lines. This is very helpful. BBFE has some built in custom reporting facilities that can be helpful. BBFE has a detailed security model that can help with internal controls.

Cons

Reports: many of the builtin reports do not contain running totals and grand totals as well as header information page-to-page as one would like. Exports: the data exports are not true sql type, but are a simplified version, which is sometimes adequate. You might need another sql facility to adequately access the data and control the data joins. BBFE imposes credit memos and disallows negative invoices--depending on what you are doing, that could be a big problem that will need to be addressed. BBFE automatically computes and shows balance forwards and each year does not stand on its own, so for some data analysis you might have to compute balance forwards in order to avoid having to download all historical data. BBFE doesn't enforce cash balancing for JEs (if 2 funds are exchanging cash, the JE can give more cash to the recipient than was removed from the payer). BBFE doesn't seem to understand control funds (a fund that holds detail information that belongs to a pool of other funds)--this will require booking JEs that would be unnecessary in some other fund accounting software. BBFE enforces using an outside service for production of 1099s.

Advice to Others

My advice is to look very carefully and vet the software very carefully for your specific needs before you buy. Don't simply allow vague assurances of business rule enforcement or of reporting greatness to hurry you to sign on the line. Not only should you be able to replicate your existing functionality, but you should be able to gain functionality that will increase efficiency. Only careful and thoughtful analysis will help here. Make sure that your consultant understands the importance of completing tasks early--if the consultant's perspective of "go live is the date we really knuckle down" and that doesn't match yours, your conversion will be very stressful as you anticipate the approaching go live date and compare it with your to-do list.

 
 

Peggy from Our Lady of Mercy School for Young Women
Specialty: Education

September 2016

September 2016

Financial Edge - Accounting

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Likes Best

Navigating the system is very user friendly, as is data input.

Likes Least

Data entry is clear but the report writing is challenging

Recommendations

Check and see if the canned reports work for you and see if they are willing to provide support on report writing

 
 

Rhonda from San Marcos Academy
Specialty: Accounting / CPA

September 2016

September 2016

Beginning Implementation

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Likes Best

We are beginning our implementation with Blackbaud Raiser's Edge NXT and Financial Edge NXT. The software is easy to use and has amazing information, all with a very robust web based GUI.

Likes Least

Blackbaud has recently purchase Smart Tuition as a student billing software. We have implemented Smart Tuition and are having issues with conversion from our existing older software. It bills at a summary level instead of at a transaction level. Our hope is that Blackbaud will review this and update the software with a later release.

Recommendations

Make sure that the software has all of the features and functionality you need. There is not a perfect software package, but find the one that comes close to your needs.

 
 

Lawrence from Van Andel Institute
Specialty: Non-Profit

September 2016

September 2016

An holistic way to view your financials.

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Likes Best

Financial Edge offers a holistic way to view your organizations financials from payroll to charitable contributions and accounts payable to fixed assets. Because the product can integrate with Raiser's Edge it's a great way to improve efficiency and communication between your finance and development departments while eliminating duplicate work in terms of data entry. It's a robust system that can replace less flexible systems such as Quick Books.

Likes Least

Initial set-up and integration with Raiser's Edge can take a very long time. Before you're up and running smoothly, it's estimated that you'll need to invest 6 months to a years worth of work. While comprehensive, Financial Edge is inflexible in terms of account coding. You have to know your financial structure before beginning to set up. This isn't a learn as you go type of software.

Recommendations

Integration and set up should be coordinated between a Blackbaud representative and your finance department/accountant. You can expect a long set up time and need to be ready to invest. Not only will the main user need training, but the main Raiser's Edge user should also be trained in Financial Edge to make the entire process smoother. Overall, you need to have a detailed implementation and financial structure plan ready before you get the software.

 
 

Tonia from MDI Consulting
Specialty: Accounting / CPA

September 2016

September 2016

Sophisticated accoutning system

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Likes Best

I find the technical support staff informed and willing to work with us on a problem until it is resolved.
It can talk directly to Raiser's Edge.

Likes Least

The wait time for customer support has never been less than thirty minutes and usually more.
The program is very sophisticated with strong reporting functionality. However, that functionality implies a level of knowledge that most accounting staff do not have. It took me four hours to set up a simple balance sheet report format--with help from technical support.

Recommendations

There are several software with equivalent strong reporting and control features. Compare this product to Abila (MIP).
Be clear that the installation and training costs are high and the learning curve for staff extremely high.

 
 

Emily from Beacon Orthopaedics & Sports Medicine
Specialty: Healthcare / Social Services

September 2016

September 2016

Great product for Non Profits

Ease-of-use

Functionality

Product Quality

Customer Support

Value for Money

Likes Best

The versatility of the product was great. You are able to track data on several levels using account numbers, and several transaction codes that you are able to define yourself. Despite all of that information that was housed individually, the software also would allow you to consolidate information across multiple entities. Report writing was fairly simple as were day to day processes of entering journal entries, AP invoices and AR invoices. A nice feature of the reporting was that you were able to create one report and filter it by the transaction codes before running the report. This meant you did not have to have 100s of reports for different scenarios. Instead you could create one report and filter it each time by the transaction codes or entities you were interested in viewing. We also integrated the software with PaperSave which allowed us to go paperless.

Likes Least

The support was not always the best. If you had an issue, sometimes the support had a difficult time understanding your issue and resolving it in a timely manner.

Recommendations

If you are looking for a non-profit software that allows you to track data on multiple levels as well as consolidate information across entities. This is a good option for you. The system is very robust and requires thorough implementation due diligence to make sure everything is set up appropriately, but overall it is a great, sophisticated product.

 
 
 
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