Sage Intacct Helps Measure Against Outcomes, Improve Transparency
Sage software can help you measure what matters in the world of nonprofit organizations. Specific Sage software, such as Sage Intacct, provides you with a strong measure of transparency and accountability, both of which are vital to a healthy nonprofit that engenders trust among donors and members.
We invite you to download the white paper, Outcome Metrics: Measuring What Matters in the Nonprofit World to learn more about identifying and measuring what matters to you and to your constituents.
Nonprofits: Good Stewards of Their Resources
With more organizations competing for donors’ dollars, it’s vital to demonstrate that your organization is a good steward of financial resources. To do this, you must show your constituents that you are tracking expenses against outcomes.
For-profit organizations have business goals, typically improving profits for business growth and shareholder wealth. Nonprofits also have goals, but these goals are measured in different ways. Nonprofit goals, or outcomes, may be measured by the difference the nonprofit makes in the world (number of panda bears saved, carbon credits offset, children who receive nutritious meals). While these outcomes may seem difficult to quantify, nonprofits can create their own scorecards to measure their own progress toward goals. This is outcome metrics in a nutshell.
Blended Scorecards Are a More Realistic Tracking Method
One way to measure outcome metrics is to measure across programs and vital metrics to create what’s called a blended scorecard. Such blended scorecards include hard financial metrics, such as debt to expenses, but also soft metrics, such as impact made across programs. Data collected across a range of points and shared in a public, transparent way can help you provide to donors and members that you are fulfilling your mission with an eye towards the future.
No matter what your goals are for your nonprofit organization, measuring against goals and reporting the outcomes to your constituents is important. With growing public skepticism about the use of funds by companies as well as nonprofits, it is important to show good faith and offer transparency into your financial through whatever means you may have. Tracking metrics against outcomes is a great way to start.
Sage Intacct: Making Measurement Easy
Among the many Sage software products available for businesses, Sage Intacct can be used by both for-profits and not for profit organizations to track outcome metrics. As a Sage software product, it features the same intuitive setup and ease of use that Sage is famous for building.
Can you use Sage Intacct for outcomes measurement? Yes, and you can also make it visible to your Board of Directors with Sage Intacct’s Digital Board Book. These elements provide critical metrics that your Board wants to see. Sage Intacct also offers reporting and dashboards for financial management and accountability.
Why wait for the annual report to offer your Board a glimpse into how well your organization is doing against metrics? Adding Sage Intacct provides a streamlined way to manage operations and financial data as well as the transparency that nonprofit boards seek. Contact IWI Consulting Group today to learn more about Sage Intacct.
Don’t forget to download our free white paper: Outcomes Measurement: Measuring What Matters in the Nonprofit World. It’s a great way to learn more about this important topic.
This content was originally posted here.