RESEARCH FACILITIES have financial accounting requirements that for-profit software solutions typically have a difficult time addressing. Additionally, fundraising initiatives are becoming more and more important to fund continued research and development projects.
FUND ACCOUNTING software for research facilities needs to track costs, allocations and budgets, and then generate appropriate and comprehensible reporting. Detailed itemization of costs by product and function for clinical trials, product development, or health interventions are necessary for sponsors’, investors’, and government agencies’ continued support.
FUNDRAISING, like accurate financial accounting, is essential for starting research development assignments, sustaining those projects, and seeing those undertakings through to a successful conclusion. Without preliminary funding and a continued revenue stream research would never see the light of day. Reaching constituents and continuing to reach constituents requires a software tool that will provide communication, solicitation, and acknowledgement capabilities.