Vendor Spotlight: GMS Accounting and Financial Management System

In this spotlight report, TEC Research Analyst Aleksey Osintsev examines GMS Accounting and Financial Management System, which was specifically designed for not-for-profit organizations. Learn all about GMS’s customers and marketing positioning, and how the software addresses the challenges for not-for-profit accounting. Also featured is a high-level overview of GMS Accounting and Financial Management System functionality.

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It is well known that organizations whose overall objective is not to increase their business profitability have as their mission helping and facilitating various initiatives for different communities, territories, and even countries. It is not well known, however, that such organizations, also called “non-profits” or not-for-profits, have their own peculiarities, differentiating them from regular for-profit businesses and estimably affecting their internal management processes, including accounting. As a result, for managing their everyday activities, not-for-profits typically use software that is specialized and tailored for the field.

GMS's Customers and Market positioning 

So, accounting automation for non-profits is the area in which GMS, Inc. has been working since 1980. With more than 30 years of experience, the company feels pretty comfortable in meeting the field’s specific needs. In a recent conversation, Donald Cassady, Director of Accounting Services at GMS, described the company’s direction, “Grant- and contract-funded non-profit organizations is the accurate description of our market. We have children services, senior centers, area agencies on aging, crisis centers, community action agencies, economic development corporations, regional planning offices, and even some departments within a city’s governments among the clients of GMS.”

With approximately 700 clients, GMS serves organizations ranging from small agencies with 2−3 employees to multimillion-dollar−budgeted non-profits with hundreds of personnel. Most of GMS’s clients are based in the United States, which is no surprise considering that GMS heavily concentrates on US legislation compliance of non-profits.

Mr. Cassady continues, “We are active in making sure we keep our clients in compliance with US rules and regulations handed down from federal government as well as from most of the state governments. We have to keep very current of that, in addition to having a good product. A very important part of the strategy is to be able to say to our existing and prospective clients that if they use the software the way it was designed, you will be in compliance. That’s a critical thing.”

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