7 Warning Signs your Not-for-Profit Finance System is Holding You Back
Is your finance system providing you with everything you need to respond to the ever-changing demands of your trustees, your funders and your regulators?
Or does each month end find you struggling more and more to keep your head above water?
This eBook takes a closer look at 7 key early warning signs and associated risks that indicate your not-for-profit organisation has outgrown its current finance system.
Outdated accounts systems can compromise far more than the accuracy of your fund accounting and SORP reporting. Not-for-profit organisations, and the sociopolitical environment in which they operate, are changing faster than their accounts systems can adapt – a situation that can have serious consequences for the future of your organisation.
The early warning signs can be slow to emerge and organisations can cope with these for years but then, there you are at the tipping point.
The issues have finally made it to Trustee level and, as your not-for-profit organisation evolves and increases in complexity, you begin to unearth a range of concerning symptoms of trouble, including:
- Unauthorised manual workarounds and the re-keying data
- Reliance on meaningful information in error-prone spreadsheets
- An increasing challenge to keep track of multiple funds
- A lack of staff engagement
- Gaps in insightful management information
- Inability to cope with additional campaigns or projects
Understand the early warning signs and risks associated with an outdated or restrictive finance system. Please click below to download your free eBook.