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AcctTwo Blog

Adopting Fundraising Metrics For Nonprofits

As donors and funders increase pressure on nonprofits to provide transparency and connect measures to outcomes, it can be hard to know where to start. If it's time for your organization to think about adopting fundraising metrics for nonprofits, it's important to identify supporting metrics that align with your strategic mission. When you focus on what and how to measure, you inform other aspects of your strategic planning, strengthening your stewardship and performance, and increasing your mission or ministry's impact.

Topics: Not-for-profit Industry Faith-Based not-for-profit Metrics

How to Create a SaaS Cash Flow Forecast

No matter the size of your company, there is nothing more critical than the ability to generate and manage cash. Cash is the lifeblood of the company; and the most critical factor in survival. Nearly 40% of startups fail because of financial challenges; and while that number certainly has the potential to grow with COVID-19, we want to share some practical cash management advice to not only weather this unprecedented time, but also put in place responsible cash management practices that will serve you well now and in the future, such as the ability to create a SaaS cash flow forecast.

Topics: SaaS Finance Transformation extend your runway General

Using Outcomes to Measure Nonprofit Success

With intense competition for donor dollars—and funders insisting on greater accountability and visibility—nonprofits must show fiscal responsibility as well as program results. Agile nonprofit organizations have learned that using outcomes to measure nonprofit success facilitates the financial transparency that's in demand. Like them, you can use outcome metrics to easily measure and report on your organization's performance which enables nonprofit financial transparency.

Topics: Not-for-profit Industry Faith-Based not-for-profit Metrics

Sound Transaction Management With SaaS Finance Software

How Modern SaaS Finance Software Helps with Sound Transaction Management

At AcctTwo, when we refer to Sound Transaction Management we mean setting up the right chart of accounts, optimizing the order-to-cash and procure-to-pay processes, and capturing all the relevant information in the right place. With the right SaaS finance software, you can have a dimensional chart of accounts as the core of many enabling functions that lead to predictable growth. In this on-demand Webinar, hear from a CFO and a Founder about sound transaction management.

Topics: SaaS Accounting Finance Transformation extend your runway General

Trend: Nonprofit Financial Transparency Proves Challenging

Successful nonprofit organizations have implemented outcome metrics to provide nonprofit financial transparency, measure, and report on their performance. Outcome metrics not only show funders and constituents how the organization is performing; they also help pave the way for sustainable growth and greater efficiency. 

Topics: Not-for-profit Industry Faith-Based not-for-profit Metrics

Playbook: Be Proactive About SaaS Finance Planning

The Extend Your Runway Webinar series was led and moderated by Marcus Wagner. During the SaaS Finance and Accounting Playbook Overview and Proactive Planning webinar, Marcus stepped through the first element of AcctTwo’s Accounting and Finance Playbook - Proactive Planning. Proactive Planning is the iterative process of budgeting and re-forecasting based on real-time operational data and market dynamics.

Topics: SaaS Software and Technology Industry extend your runway General

Nonprofit Financial Management Software Helps VisitDallas Save Time

The team at VisitDallas is enjoying benefits from their new implementation of nonprofit financial management software. Their legacy system could not properly reflect the organization’s true structure and reporting, and was time-consuming and error-prone. Read about how the team worked with AcctTwo to automate their processes, bolster internal controls, and actually start enjoying their integrated nonprofit financial management software.

Topics: Not-for-profit Industry Faith-Based not-for-profit General

Business Succession Planning in a Post-COVID World

We were living in early COVID days when we wrote our eBook, Faith-Based Nonprofit Succession Planning for the Back-Office. We had no idea what was going to happen, or how long it was going to last. We were just starting to talk about how COVID was impacting leaders and succession planning when we spoke to Todd Clark, Senior Associate in Senior Leadership at Slingshot Group, a leading nonprofit staffing and coaching agency. He told us, “In a post-COVID world I see significant changes in succession planning. I think that there will be unexpected resignations resulting in swiftly planned successions. The stress of the pandemic has been unprecedented. I predict that we’ll start to see leaders resigning in their 40s and early 50s to lead outside the church. Leading through 2020 has had the stress of 10 normal years. They aren’t going to have gas in the tank.”

Topics: Faith-Based General

Transitioning to Recurring Revenue Business Models

In our last COVID related article, we encouraged businesses to re-examine their business model as they emerge from the pandemic - it may not be as sound or sustainable as it was before. But it might not be as lucrative as it could be either.

Topics: General

Church Succession Plan Template: Next Steps

Prov 28:2: “When a land transgresses, it gains a succession of leaders, but with an understanding and knowledgeable man, its stability endures.” Plan earlier than you think. The person with the most time wins, and after leading through a pandemic, who knows how long that will be.

In a post-COVID world I see significant changes in succession planning. I think that there will be unexpected resignations resulting in swiftly planed successions. The stress of the pandemic has been unprecedented. I predict that we’ll start to see leaders resigning in their 40s and early 50s to lead outside the church. Leading through 2020 has had the stress of 10 normal years. They aren’t going to have gas in the tank,” Todd Clark, Senior Associate in Senior Leadership at Slingshot Group.

It’s been a tough year, and I think it’s been hardest on upper leadership. When I spoke to Mark Brown, he mirrored Todd Clark’s comments on leading through COVID. He said, “leading through Hurricane Harvey was tough but leading through COVID has been exhausting. It’s called compassion fatigue. You need to force yourself to practice self-care and take time off. Leaders that make it through the pandemic are going to be a tough bunch”.

From start to finish, talking to so many experts and colleagues has given me so much insight into what a good succession plan looks like, and it is true: if you fail to plan, you plan to fail.

Topics: back office Faith-Based succession Planning