The Redefined CFO
Changing leadership for a changing world The past two years have seen unprecedented social change and disruption. This demands new kinds of leaders, capable of delivering purpose-driven strategies flexible enough to embrace digitalization and new ways of working. In response, finance leaders are proactively nurturing non-traditional skills to help them navigate complex, technologically-enabled industries. …
Driving Nonprofit Finance Efficiency with Paperless Automation
With today’s modern technology, there’s no need for paper in the office. When the pandemic hit, many nonprofits experienced an urgent need to undergo rapid digital transformation. Cloud business systems helped staff stay productive while they worked from home under government stay-at-home orders. As the world opened back up, it became clear that many of…
The Top Five Signs You’ve Outgrown Sage 50
How do you know if you’ve outgrown Sage 50? Many small and mid-sized businesses rely on Sage 50 to meet their organizations’ accounting and financial management needs. As one of the most reliable desktop accounting solutions, with a loyal base of customers, it’s easy to see why. For lots of businesses, it’s the first and…
The Nonprofit Finance Team Survival Guide
Trying to survive in a complex environment is hard. Nonprofit finance teams operate in a more challenging environment than ever before. Good financial stewardship plays a critical role in maintaining funding relationships and attracting new donors. Finance teams face pressure to provide full transparency for compliance and better visibility into both financial metrics and outcome…
Three Reasons to Consider An Asset Management Solution Over Spreadsheets for Prospects
How much time do you spend entering fixed asset data into spreadsheets? Hours? Days? Once the data is in there, are you manually calculating and tracking depreciation? Are you then manually entering journal entries into your accounting system? If so, it’s time to think about a solution that unifies fixed asset management with core financials.…
How to Speed Up Your Nonprofit Audit with Audit-Ready Financials
What Goes into a Nonprofit Audit? The audit of a nonprofit organization consists of two parts: An auditor review of your GAAP-compliant financial statements, and a separate compliance audit to assess risk and internal controls. Most financial statement risk in any nonprofit organization comes from errors in judgment or faulty financial management processes. Therefore, an…
4 Signs Manual Processes are Costing Your Team Time and Money
Like most organizations, you probably dedicate too much time to manual processes. In fact, employees across all functions spend about one-third of their time on repetitive tasks, according to McKinsey, one of the world’s leading management consulting firms. Your finance team likely spends hours every month consumed by manual tasks such as rifling through filing…
A 5 Step Plan for Selecting the Right Fund Accounting Software for Your Nonprofit
Six common reasons to change fund accounting software If your organization struggles with these six challenges, you might have outgrown your current fund accounting system. Reporting is a struggle that takes too much time. Your organization relies too heavily on inefficient, error-prone manual processes. You depend on unwieldy spreadsheets to analyze performance, sometimes causing reporting…
3 Signs It’s Time to Up Your Allocation Game and Get True Performance Insights with Dynamic Allocations
Gain a fuller picture into your organization to fuel informed decision-making Allocating, or attributing, revenue and expenses across dimensions helps you better understand the whole operational picture of your organization. It provides clearer insight into the performance of business units, departments, products, projects, funds, and more, since you can derive the complete picture of revenue…
The Rise of the Data-Driven Nonprofit Finance Leader
The Evolving Role of Nonprofit Financial Leadership Time is the scarcest resource of today’s nonprofit finance leaders. As a nonprofit finance leader, you need to find ways to get away from day-to-day accounting tasks and create time for strategic executive priorities. Recent surveys show that on average, finance leaders set a goal of spending 50%…