Financial Management should be strategic–not just an exercise in compliance.
If all you are providing to your managers is a black and white budget-to-actual comparison for the prior month, chances are it’s not getting a lot of attention (sorry). Many organizations fail to deliver meaningful support data to managers who could use it for better decision-making. This is because financial management is often viewed as an exercise in compliance and not a strategic management function in nonprofits.
JMT Consulting Group works with executive teams of nonprofit organizations to identify the drivers and KPIs that are most important for their financial situation. We also evaluate systems to determine the best method of capturing, consolidating and presenting the data necessary to provide this support data.
With effective management reporting systems, nonprofit organizations experience:
- More engagement from managers with budget responsibility
- Better understanding of the implications of management decisions
- Greater visibility into how funds are used and their impact
JMT will carefully help you evaluate your management reporting needs and recommend appropriate tools to facilitate the automatic generation of management reports and dashboards, allowing management at all levels to make better strategic decisions.