Operations & Technology

What systems do other CDFIs use for their accounting function? I am looking for an efficient ERP for investment accounting purposes. Has anyone used Clearwater Analytics? Thanks!

Aaron, we are often asked to integrate our LOS with our customers' accounting systems so we see a decent cross section of what is being used. Quickbooks Online still seems to be most common, however we are also seeing Sage Intacct gain significant market share. The rest is a mix of many including MIP Fund Accounting and Blackbaud Financial Edge.

Sage Intacct seems to be growing most quickly among CDFIs and overall users are happy with it. If you are interested I can connect you with someone using Intacct.

All of this is anecdotal, and LoanWell has no commercial relationship with any accounting software so we are agnostic on what is being used as long as we can complete an effective API integration.

Hope this is helpful.

What systems do other CDFIs use for their accounting function? I am looking for an efficient ERP for investment accounting purposes. Has anyone used Clearwater Analytics? Thanks!