Nonprofit organizations often have a clearly defined mission and a set of strategic goals. However, without reliable data, it can be difficult to know whether operations are on the right track toward achieving those goals. Link metrics to your mission, set both short-term and long-term objectives, and chart the course toward success.
Having a set of strategic plans that can lead you toward the mission is the first step for nonprofit success. However, you need to be able to measure and monitor the progress that gets you closer to that mission. Many nonprofit organizations are using outcome metrics which is a systematic approach to defining and monitoring that data that keeps you moving forward on the right path. Download this eBook, “Outcome Metrics: Measuring What Matters in the Nonprofit World,” to learn how nonprofits are using outcome metrics to chart a course and reach their goals.
Data is a Nonprofit Advantage
Data is the cornerstone for an outcome metrics program. You need to be able to capture reliable, accurate data in order to determine whether your nonprofit is performing successfully. A robust management solution, such as Intacct, offers a centralized location for all of your data including financial transactions, operational and program budgets, membership information, grant programs, and other activities. With this technology in place, you can then define short- and long-term objectives and the key metrics that can help you achieve those strategic goals. For example, if your plans include growth, you can monitor membership rates, efficiency of membership drives, where your members are located or the industries that they represent, as well as revenue per member. Armed with these insights, you can gain greater insight into membership needs and preferences, and develop programs or special events to attract new members and supporters.
Intacct also offers built in business intelligence and reporting features that make it easier to monitor and report on financial activities, such as budgeted spending versus actual spending, and operational activities, such as program efficiency. Choosing metrics across a variety of operational activities can highlight different types of successes to external stakeholders and constituents.
Connecting key metrics to your mission can keep your nonprofit on the right path toward success. Download the eBook and contact SSi Consulting to learn more about deploying the right technology and developing a strong outcome metrics program to drive nonprofit success.
By SSi Consulting, Certified Intacct Partner with offices in DC, Maryland & Virginia
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