Financial Edge Specifications

Financial Reporting

Invoice Management

Expense Tracking

Tax Management

View All Specifications

What is Financial Edge?

Overview

Financial Edge NXT, a Blackbaud product, is a cloud-based accounting solution geared towards non-profit and governmental organizations to help them effectively manage, automate and monitor several organizational projects and teams at the same time. These could be relating to compliance, financial stewardship, security, or follow-throughs; Financial Edge provides users with a robust platform to perform fund accounting with a general ledger, projects, grants, endowments, accounts payable and receivable, fixed assets, banking, and more tools offered within a single mainframe.

Financial Edge enables its users to manage transactions, eliminate manual processes, and securely share information in an instant by providing them with personalized dashboards and customizable views. This way users can closely monitor income statements, program-to-expense ratios, cash balances, and other key metrics. Other innovative offerings include one-click drill-down functionality in real-time reporting, and export capability, and ongoing data-driven decision making.

Pricing: Not provided by the vendor.

USP: Advanced tools to eliminate manual processing of things with enhanced accuracy of data entries. Offers project accounting with streamlined budget management.

Support: Support can be reached via phone and email.

Product Advantages: The software is highly flexible. It provides an effective way to monitor accounts and generate reports.

Product Limitations: Highly overpriced for SME businesses. There is a steep learning curve because of the complexity of the offered functions.

Pros and Cons of Financial Edge

Pros

  • Provides access to a wide range of online finance courses covering various topics including investment banking
  • Learners gain expert instructor support and practical exercises to solidify their understanding of course material
  • Access to market and industry data, and current and historic company filings enhance analytical skills
  • Offers certification opportunities in the form of completion certificates and micro-degrees to help advance professionals' careers

Cons

  • Reporting functionality can be more user friendly as per user reviews
  • Some users report that the customer service lacks on time responses
  • Sometimes, the expense tracking appears to be offline, causing the staff to spend a good amount of time entering their expenses

Financial Edge Reviews

Overall Rating

4.3

24 Review(s)

Rating Distribution

5

star

(12)

4

star

(9)

3

star

(1)

2

star

(1)

1

star

(1)

March 2024

NXT Blackbaud

Natasha

Mental Health Care

Ease of use

10

Value for money

10

Customer Support

10

Functionality

10

Pros

This tool is fantastic for our non-profit. I can pay invoices, set up vendors, and store any business-related files (W9s, contracts, etc.). It's incredibly helpful for sending out 1099s, setting up new projects and vendors, and I appreciate the ability to cut in-house checks and send out checks (both physical and electronic drafts).

Cons

Sometimes, I notice that the general ledgers can be slightly off in terms of accounting, but not by much.

June 2023

Easier tool than other Blackbaud products

Elizabeth

Education Management

Ease of use

7

Value for money

7

Customer Support

7

Functionality

7

Pros

Compared to other BB products, this one is easier to use, especially for refunding purchases and tracking deposits.

Cons

The customer service is irregular and unreliable.

June 2023

Review of Blackbaud Financial Edge NXT

Meredith

Libraries

Ease of use

9

Value for money

9

Customer Support

10

Functionality

9

Pros

As a library within the government sector, Blackbaud's Non-Profit Financial accounting system works perfectly for us. They truly understand non-profits' needs and create solutions for our problems. Blackbaud is simple to use and easy to train new employees on. The training they provide is incomparable to many other products, offering 20+ classes with online instructors or through e-learning. This training has helped us implement the software across multiple locations and ensure our staff is prepared for their duties.

Cons

As a government agency, we are required to use purchase orders. Blackbaud's purchase order system isn't as intuitive as the rest of the software. They are working to move the purchase order system to the WebView and have assured us that several changes will make the PO portion easier to use. We also need multi-level approvals on an invoice, but the solution Blackbaud provided until everything moves to WebView didn't work for our organization, as we require a pre-audit statement on all purchase orders and invoices that are paid.

Frequently Asked Questions

Financial Edge typically caters to individuals looking to advance their careers as well as businesses seeking tailored learning and development solutions for their employees and teams.