Grow Your Nonprofit By Following Key Metrics
Current, reliable data is essential for a nonprofit organization to grow and move closer to the mission. However, having data isn’t enough. Your leaders need to know what to do with it. When choosing performance indicators or metrics to monitor, they need to be aligned with your strategic plan and you need to know how deviations can impact your financial goals.
Your nonprofit organization is unique and the key performance indicators (KPIs) you choose to define success are likely different from another nonprofit. Choosing KPIs can be challenging, but necessary to ensure your programs and services are meeting all the right targets – that they are financially viable, beneficial to your membership or the community you serve, and are contributing to your ability to achieve strategic goals and the mission. Capturing and analyzing these metrics is important for maintaining a strong and growing nonprofit organization, which is why it’s important to have the right technology in place.
Replace Entry-Level Accounting with a Modern Nonprofit Financial Management Solution
Entry-level accounting software and other disparate systems can’t provide the visibility you need within your data. It’s too time-consuming and risky to export data from these various solutions into an Excel spreadsheet for analysis. An integrated financial management solution provides the control and insight you need over all of your data including financial, operational and other activities. Dashboards and business intelligence features present different visualizations of your data for different needs. You can monitor KPIs, such as the financial transactions for overhead and operational expenses, and make connections between cause and effect. For example, as income from membership fees fluctuates, how will that affect operational expenses or impact programs and services?
A modern financial management solution offers greater reliability, access to real-time data, and provides a more controlled way to manage financial operations, budgets, grant programs and the other activities that contribute to the success of your nonprofit. Gain control over your data and use the dynamic visualization features in today’s technology to drive success. Contact JMT Consulting Group to learn how a modern financial management solution can arm your team with the right data and the insight needed to leverage that data as you grow your nonprofit.
By JMT Consulting Group, national provider of technology and services to the nonprofit sector