Blackbaud Financial Edge NXT Pricing, Features, Reviews & Comparison of Alternatives

Blackbaud Financial Edge NXT

Cloud fund accounting software for nonprofits

4.36/5 (47 reviews)

Blackbaud Financial Edge NXT overview

What is Blackbaud Financial Edge NXT?

Financial Edge NXT is cloud-based fund accounting platform designed specifically for small to large nonprofits and government entities that enables users to support fundraising efforts, and monitor and track program success in a single platform. Accounting teams are able to efficiently manage transactions, securely share information, and eliminate manual processes, as well as drive transparency and financial control using advanced financial reporting tools.

Financial Edge NXT includes a flexible general ledger structure including tools for account segments, to transaction characteristics. Users are able to maintain a streamlined account structure with the ability to capture transaction details and require funds to balance by grant, project, department, and more. Blackbaud's ERP module helps automate information flow across the organization, improving donor transparency and eliminating duplicate data entry.

Internal controls and compliance features help organizations commit to ethical accounting practices with tools to prevent wasteful spending, fraud, breach of policy, and other destructive behavior. Automated workflows help control activities while structuring the control environment to fit organizational needs. In-depth records, configurable dashboards, and custom reports help with financial planning and analysis, allowing users to review critical information and drill down to see which transactions are driving results.

The grant accounting module allows users to manage grant activity and complete grant administrative tasks within a single system. Revenue and expenses at the grant level can be tracked and reported on by type, amount, status, and start/end dates, and information such as grantor contact details, budgets, reimbursable expenses, and more can be securely stored. With efficient workflows, users are able to manage cash flow, accounts payable / receivable, and ensure the organization’s spending policies are enforced.
www.blackbaud.com

Pricing

Pricing options
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States, Australia, Canada, United Kingdom

Supported languages

English
Blackbaud Financial Edge NXT screenshot: FENXT balancesheetFinancial Edge NXT™: The Backbone of the New NonprofitBlackbaud Financial Edge NXT screenshot: FENXT accounts filterBlackbaud Financial Edge NXT screenshot: FENXT vendoractivityBlackbaud Financial Edge NXT screenshot: FENXT bank accountNonprofit Accountants Are Empowered Using FE NXT

Blackbaud Financial Edge NXT reviews

Value for money
Features
Ease of use
Customer support
  3.9
  4.1
  4.1
  4.2
Dominique Jones

My review of Financial Edge NXT

Used daily for 2+ years
Reviewed 2018-10-09
Review Source: Capterra

I like Financial Edge NXT and I couldn’t imagine doing my job without it!

Pros
I like that this software is for finance and accounting professionals. It has helped me to perform the daily functions of my job with limited interruptions.

Cons
I haven’t been able to understand the allocation module, and so we are still doing our investments manually. The guide that is provided seems to work more for people who have an overall understanding of how it should work.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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George Hsing

Financial Edge - the application that works with Raiser's Edge

Used weekly for 2+ years
Reviewed 2019-03-14
Review Source: Capterra

Overall, FE is a good application if you are already RE but do not have an existing accounting application. If your organization is small and do not have an IT team, then look at Blackbaud to host your RE and FE applications and let the professionals take care of your application hardware infrastructure.

Pros
If you are using Blackbaud's Raiser's Edge (RE) software and need another application to perform accounting functions, Financial Edge (FE) is the application that will take care of Vendor tracking, A/R, A/P, etc. Rather than using another accounting application (ie. Quickbooks), Financial Edge integrates with Raiser's Edge. When you post gifts from Raiser's Edge, it goes over to Financial Edge and updates the information. The information for batch number, Appeal, Funds, Campaign migrate over to FE from RE. The user interface, look and feel between Financial Edge and Raiser's are the same. If you know RE, then FE will be easy to catch on. If you are hosted by Blackbaud, then you will be looking for FE/NXT

Cons
While there is a lot of integration from RE to FE, this comes at a cost. The FE application is expensive compared to other financial applications. If you are hosting FE on-premise, I believe Blackbaud charges by the number of users. You also need to a server with SQL to run FE. This is not like QuickBooks which can install on a local PC. If you are hosted by Blackbaud, then you will be looking at FE/NXT and again price will your main concern.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

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Jeremiah Pierce

Financial Edge User

Used daily for 2+ years
Reviewed 2017-02-16
Review Source: Capterra

I have been using Financial Edge for almost four years now and the the strides they have made from my first impression to now are outstanding. When I first started my job I was thrown into the systems and provided little training and while the system (Accounts Payable, General Ledger) were easy to learn they were a little clunky looking and the features that made them powerful (attributes, global changes) were not something you would find on your own. We recently (been a little over a year) moved to the NXT version and while all the functionality is not there yet I do appreciate BlackBaud taking the time to listen to their customers while building out the functionality instead of just updating it based on the database view. While this make take more time to build out (which can be frustrating) it will hopefully allow for an even more powerful platform in the end that allows us to be a more effective and efficient team in the end.

Pros
New functionalities being rolled out that allow us to use more systems working together instead of isolated. Community boards to allow users to make suggestions and learn from each other.

Cons
That NXT is not complete yet (but I understand why and agree with their methodology). Customer support can be clunky at times when the first person is not able to help you.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

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Dorothy E. "Dolly" Higgins

This product really can only get better

Used occasionally for 2+ years
Reviewed 2019-04-05
Review Source: Capterra

Our finance and marketing departments use Blackbaud FE and RE daily and they get the job done. Migrating to something else at this point would be a monumental task, but it still may well be worth the effort.

Pros
Interfaces with our Fund Raising software (Raiser's Edge, I am equally thrilled with that too, and mostly for the same reasons cited herein). Blackbaud offers a good training program (which considering the product license fees all of which should be free).

Cons
The reporting is cumbersome. Lack of a self-service audit trail. The interface is not intuitive.

Response from Blackbaud


Hi Dorothy!

I appreciate you taking the time to review Financial Edge 7 (legacy version of Financial Edge NXT) and being a loyal customer. All of the concerns you brought up in this review have been addressed the cloud-based version of FE7, Financial Edge NXT.

¿ Reporting - take advantage of being able to run multiple reports in your background at the same time, so that you can keep working while they run. You also get drill-down capabilities, 100 canned reports, and more.
¿ Interface - Financial Edge NXT is a cloud-based, modern, and intuitive platform. It is responsive and highly configurable.
¿ Audit Trail - Financial Edge NXT provides a complete audit trail with the ability for users (with permissions) to self-serve this information directly in the system.
¿ Migration - Migrating to Financial Edge NXT is very easy for Financial Edge 7 clients. We ensure that you have no loss of functionality, no data conversion, and no re-implementation.

- Blake Paradise

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 3/10

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Sharon Early

The combined Financial Edge, BBMS, and Altru provide for an easy month end close w/ great details

Used daily for 2+ years
Reviewed 2018-06-14
Review Source: Capterra

I have time to assist my departments in dealing with budget issues on a timely basis.

Pros
I like the fact that I can either trace from a detailed posting in Altru, through BBMS to Financial Edge and prove to the auditors how transactions were processed or vice versa with ease. With this integration of the three services we have also been able to pass on to the departments receiving the income, the fees associated with processing credit card transactions - thus reducing management overhead. If you have created your environments correctly and have adequate safeguards in place as to how data is entered you have the ability to close within two-three days of month end. This gives us the ability to actually analyze the data into a monthly report that management uses to correct or improve programs.

Cons
When in the reporting function, if you are asking for a major detailed report, the system does slow down and could be a bit faster.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Blackbaud Financial Edge NXT pricing

Pricing options
Subscription
View Pricing Plans

Contact Blackbaud for detailed pricing information.

Blackbaud Financial Edge NXT features

API
Activity Dashboard
Customizable Reporting
Reporting & Statistics

Access Control (39 other apps)
Attendance Management (51 other apps)
Automatic Notifications (37 other apps)
Communication Management (43 other apps)
Contact Database (55 other apps)
Contact Management (40 other apps)
Credit Card Processing (44 other apps)
Custom Fields (49 other apps)
Customizable Branding (48 other apps)
Data Import/Export (56 other apps)
Electronic Payments (57 other apps)
Email Integration (39 other apps)
Event Management (46 other apps)
Registration Management (41 other apps)
Reminders (39 other apps)
Third Party Integration (49 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Additional information for Blackbaud Financial Edge NXT

Key features of Blackbaud Financial Edge NXT

  • Accounts payable
  • Accounts receivable
  • Purchasing & receiving
  • Fund accounting
  • Financial reporting
  • Dashboard reporting
  • Nonprofit general ledger
  • Account segments
  • Transaction characteristics
  • Capture transaction details
  • Require funds to balance
  • Change financial statement groupings
  • Complete integration with other Blackbaud solutions
  • Automate information flow
  • Eliminate duplicate data
  • Customizable report templates
  • Internal controls and compliance
  • Automated workflows
  • Financial planning and analysis
  • Configurable dashboards
  • In-depth records
  • Custom reports
  • Create multiple “what if” budget scenarios
  • Monitor budget versus actual performance
  • Update compliant reports
  • Presentation-ready reports
  • Manage grant activity
  • Detailed grant records
  • Complete grant administrative tasks
  • Working capital and expense management
  • Cash flow management
  • General ledger
View All Features

Benefits

Simplify fund accounting and efficiently manage complex reporting requirements and maintain a streamlined chart of accounts with Financial Edge NXT's flexible general ledger structure.
Streamline communication across the entire organization and eliminate duplicate data entry with Blackbaud's ERP which helps automate information flow between offices.
Review critical information using Blackbaud's configurable dashboards and custom reports, and get a more detailed look at transactions for financial planning and analysis.
Limit the need for spreadsheets by storing all grant related data within a single system and complete all grant administrative tasks in one place.
Manage accounts payable, accounts receivable, and cash flow with efficient workflows to ensure the organization's spending policies are enforced and reduce time consuming manual processes.