Justus Saige and Alex Kelly from Sage APAC will show you and your team effective digital transformation steps on our free webinar on 3 April.
Being a finance leader in the Australian nonprofit sector is a demanding role. Balancing the core mission delivery with the constant pressure of external financial challenges is a delicate act. In an environment where funding is increasingly competitive and donors are more discerning, cultivating strong relationships and demonstrating tangible program outcomes are more critical than ever. Transparent, real-time tracking of key metrics is no longer a luxury; it’s a necessity for maintaining donor engagement and facilitating data-driven decision-making for fund allocation.
Are you and your finance team struggling with manual reporting, data gaps, and disconnected systems? Do you find yourselves spending more time wrestling with spreadsheets than strategizing for the future? Many Australian nonprofits face similar hurdles. At this point, there are a significant number of nonprofits that still rely on manual processes. This can significantly hinder an organisation’s ability to secure funding and demonstrate accountability. A 2022 report by the Australian Charities and Not-for-profits Commission (ACNC) highlights the importance of financial reporting and transparency for charities, implying the need for robust systems.
The role of the nonprofit finance professional is undergoing a rapid transformation. CFOs are no longer simply number crunchers. They are strategic partners, providing crucial insights that inform decision-making at every level. They must be tech-savvy, capable of leveraging technology to streamline processes, enhance efficiency, and ultimately, maximise the results of their organisation’s mission.
However, a significant “automation gap” exists in the sector. Many nonprofits lack the necessary technology and systems to effectively track mission outcomes and demonstrate impact. This gap can have serious repercussions:
- Difficulty securing funding: Donors increasingly demand clear evidence of impact. Without robust data and reporting capabilities, nonprofits struggle to demonstrate the effectiveness of their programs and secure funding. As noted by the Australian Council for International Development (ACFID) in their principles, accountability and transparency are vital, which requires good data.
- Inefficient operations: Manual processes are time-consuming and prone to errors. This can lead to wasted resources and impede the organisation’s ability to achieve its objectives.
- Lack of transparency: Without real-time insights into financial performance and program outcomes, maintaining transparency and accountability with stakeholders becomes challenging.
How can Australian nonprofits bridge this automation gap and gain real-time insights? The key lies in embracing technology and investing in integrated financial management systems. These systems can automate key processes, eliminate data silos, and provide real-time visibility into financial and program data.
Join our upcoming webinar on 3 April at 1100 AEDT to learn more!Â
In this informative session, we will cover:
- The Evolving Role of Nonprofit Finance: We’ll explore the changing demands of nonprofit finance professionals and the skills required to thrive in today’s environment.
- The Automation Gap and Its Impact on Tracking Mission Outcomes: We’ll delve into the challenges posed by manual processes and how they hinder effective tracking and reporting.
- Bridging the Gap and Gaining Real-Time Insights: We’ll discuss practical strategies and technology solutions that can empower nonprofits to automate their financial processes and gain real-time visibility into their performance.
This webinar is tailored for CFOs, finance managers, and other nonprofit leaders seeking to enhance their organisation’s financial management and maximise its efforts. Don’t miss this opportunity to take the first step toward reporting excellence and empower your organisation to achieve its mission.Â
Signup details will be shared when we get them!
We look forward to seeing you there!
About the speakers:
Justus Siage, Head of Solutioning, Sage APACÂ
Justus leads the ERP Solutioning Team at Sage APAC, with a focus on breaking down barriers and empowering finance teams to optimise operations, increase productivity, and drive growth. As a qualified CPA, Justus brings a unique combination of financial expertise and strategic insight to his role, enabling him to deliver customised solutions that deliver measurable results. His collaborative approach ensures that clients receive innovative, impactful strategies that not only address their challenges but also create lasting value for their business.
Also read: Are CFOs effective stewards of corporate sustainability?
Milton writes as both an occupation and a hazard. He also works on the newsletters you see on Tuesday and Thursday with articles you should find interesting.
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