metrics

Article Dean Dorton

Nonprofit finance leaders need to assume a more strategic role in organizational intelligence and planning. To do that, you need better visibility into both financial and operational metrics, so you can make better decisions.

In the Secrets to Gaining Visibility into Nonprofit Financials eBook, we explore the challenges of nonprofit financial reporting, reveal the secrets to gaining the visibility you need to develop winning strategies to advance your mission and discuss how your peers are using the cloud to deliver on growth strategies.

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Alisa Brill, CFO, Paws Chicago

Before, everyone was in the dark, but with Sage Intacct it’s a whole new world.  Department managers can see precisely how they are doing with the click of a button… As a result, people are controlling their costs proactively, the organization’s overall expenses are down, we’re sticking to our budget, and our spend is under control.

If you’d like to explore how to better control costs and keep projects on budget, contact us!

Article Dean Dorton

MSPs face a unique set of challenges when it comes to growth. But the daunting task of scaling your financial management processes and systems to accommodate your rapidly increasing workload is not impossible.

To grow your systems with your company’s success, 4 new mandates can help ease the process:

Modernize Your Infrastructure 

MSPs cannot afford downtime. To mitigate resource-expending bottlenecks, productivity lapses, or service failures, MSPs are wise to embrace modern infrastructures that streamline processes and bridge gaps between finance and project management.

When your teams begin working with a financial management solution designed to support MSPs and contract-based services companies, revenue recognition is more automated, time and expense capture and approvals happen more quickly, billing errors are reduced.

This means finance’s job becomes easier, and the project management’s forecasting becomes clearer. Strong cloud-based financial management solutions often offer much more than just a financial picture. Today’s software can feature key metrics for not just finance, but for operations and project management as well, for a more comprehensive view of company performance.  

Support the Full Project Lifestyle

For an MSP’s success, service quality is priority #1. An ideal financial processes situation for modern MSPs will be capable of supporting project management’s entire life cycle to ensure reliable service.

The most effective way to ensure your company’s teams can access and fully utilize tracking and reporting systems is to ensure your systems’ ease of use. If your teams find it too time-consuming, complex or difficult to use the tracking and validating systems in place, the confidence in your data, and ultimately your service will degrade quickly.

Access Insights Into Key Metrics 

With your on-premises system, are you able to see into whether your projects are staying with time and budgetary margins? If not, your company is not using technology to its fullest capabilities to harness success.

When MSPs work in the cloud, they get real-time insights into budget variances, and tracking on budgeted, billed and actual numbers, for quality control, project targets, and continued focus on customer satisfaction.

Convert Data Into Performance 

Data retrieved from cloud-based systems ensures that your key metrics always offer updated views into performance.

Not only can the cloud offer historical data for decision-making based on past performance, but it can offer to-the-minute insights for stronger forecasts, more strategic sales plans, and smarter bids for enhanced growth.

Sage Intacct, a best-in-class financial management solution offers what MSPs need with:

  • Strong automation for more accuracy and resource control.
  • Comprehensive views into key metrics from highly customizable dashboards.
  • Metering for billing to be based on pay-as-you-use, as well as other modifiable frequencies to fit your service design.
  • Scalable features to add in or remove users, permissions, entities, or locations, to fit your level of growth.

If your business is still working with on-premises systems, reach out!  It may be time to explore a more modern solution, and we can help.

Article Dean Dorton

We all know it takes more than just a desire for change that makes a non-profit thrive. So many details go into running a change-making organization. It takes planning, donors, more planning, board members, and these days, it also takes transparency and accountability.

Your supporters can easily donate and drive your cause with a quick click, just as easily as they can demand to know where their money is going. But for supporters to get an accurate picture of how you operate, you need to offer them answers in the form of factual data.

The best way nonprofits can boost their cause is to know, and show, their key metrics.

These metrics, or measures of success, can be either financial or non-financial. Both are equally important, and together they paint the bigger picture illustrating your organization’s effectiveness, or more plainly put, how effective you are in making change happen.

Your key success indicators may not look quite like another nonprofit’s or even like your competitor’s. Your indicators are unique to your organization’s set-up and services.  But how do you know what you should track to tell the most transparent story about your effectiveness?

Strong monitoring and reporting offer the right kind of data that provides crystal clear transparency. This can help your donors see your inner workings through numbers, but it can also help the organization identify key milestones to pave the way to new avenues of financial support.

Sage Intacct – a best-in-class financial management solution gives non-profits the time-saving support they need to grow with their mission:

  • Sage Intacct’s real-time visibility offers data 24/7 to give board members the right data to build effective strategies for building your services, your forecasting, and your funding.
  • Strong automation organizes financial and operational data and gives back your teams’ time, freeing them to tick off more on their to-do lists, while your inventories, billing, reporting and month-end closings reflect more accurate metrics anytime you need them.
  • Global or local, your organization works with a tool that scales with the growing mission, streamlining your processes, and making your organization more sustainable for the long-haul by easily handling complex membership and supporter data and providing strong, accurate data you can show your supporters.
  • Metric dashboards give every one of your key members only the most important outcome metrics from any location in the world to put their best skills to most effective use.

Dig deeper! Sage Intacct offers expert advice: In “Measuring What Matters in the NonProfit World,” you’ll discover what donors look for in transparency and take away formulas for how to identify those key indicators most critical to your nonprofit’s success.

Download “Measuring What Matters in the NonProfit World” to learn powerful business success formulas and to gain a clearer understanding of what success means for your unique non-profit.

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