AccuFund Acquires CRM Platform Outreach Suite
June 26, 2012 Paul Clolery
AccuFund, a provider of financial reporting and accounting software for nonprofit, municipal and government organizations, has acquired Outreach Suite, an online software-as-a-service (SaaS) solution providing fundraising capabilities and constituent relationship management (CRM).
Outreach Suite complements the AccuFund Accounting Suite’s Fund Management capabilities to offer nonprofits an extended accounting platform. Outreach Suite will be rebranded as AccuFund CRM, according to Peter J. Stam, president at the Needham, Mass.-based AccuFund.
Outreach Suite’s operations are in Austin, Texas and the parent firm NFP Technologies is in Monument, Colo. Stam said AccuFund acquired the solution and the four staff members but not the company, which is owned by an AccuFund reseller.
Specific financial details of the deal were not disclosed, other than it was for cash and was less than $1 million.
Outreach Suite runs on the Force.com cloud platform. AccuFund CRM will provide a complimentary solution for AccuFund Online, AccuFund’s cloud-based SaaS accounting solution for nonprofits needing full functionality of the AccuFund Accounting Suite without having to install and maintain the system on site. AccuFund has developed an integration bridge to ensure seamless integration between AccuFund CRM and the AccuFund Accounting Suite.
“The AccuFund Accounting Suite has powerful capabilities for enabling effective grant management, but by adding functionality on the fundraising side, we enhance our overall offering to nonprofits and provide them with a more comprehensive solution,” said Stam. “By acquiring Outreach Suite, we can both extend our accounting solution for our nonprofit customers and reach new areas of the non-profit market with robust fund raising and accounting tools.”
AccuFund CRM will enable nonprofits to manage fundraising activities such as forecasting and managing donors, pledges and contributions, and incorporate those activities with general accounting processes by dynamically linking to the AccuFund General Ledger (GL) and Cash Receipts modules. AccuFund CRM will provide control over fundraising activities by including approval processes for fundraising transactions and workflow rules that ensure that anything happening on the fund development side will appropriately transfer to the accounting side.
AccuFund CRM will also allow nonprofits to forecast future fundraising income, track donations from specific donors and create and view fundraising transactions in detail or summary, said Stam.
“We have always played on the grant-funded side of the nonprofit. This opens the door to the fundraising side with a very effective cloud-based solution,” said Stam.