Is It Time to Modernize Financial Management for Your Company?
This post was originally published on the Sage Intacct Blog Having a strong financial system in place is always important. But in disruptive times, it becomes even more important. The pandemic crystalized what financial decision-makers had known for a long time: Outdated, clunky financials software can drag down the business in a world where decision-makers…
The Benefits of Digital Time & Expense Management
Policies are the “rules of the road” for running an efficient operation. From signs and traffic lights to speed limits, inspections, and cops, we need driving regulations to help us get to our destinations quickly and safely. Similarly, as team members in a work environment, we need structure to make sure we stay in our…
How Your Nonprofit Can Act on 2021s Biggest Trends
What can not-for-profit organizations expect in 2021 and beyond? One recent report, “11 Trends in Philanthropy for 2021,” offers some answers. Produced by the Dorothy A. Johnson Center for Philanthropy at Grand Valley State University (Grand Rapids, Mich.), the 32-page report pinpoints trends such as the growth of social justice funding and new opportunities to…
Biden Executive Orders Signal Coming Employment Regulation Changes
Presidential executive orders (EOs) generally lack the power to immediately alter the ways that employers and citizens are required to act. Still, they get the ball rolling towards changes that are likely to be coming, in the form of federal regulations and policies. That is, as long as they can be justified by the laws…
Nonprofits Need to Educate Donors About New Tax Benefits
The Consolidated Appropriations Act (CAA) enacted in December 2020 extends and modifies several key tax provisions originally included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act provided several forms of financial support to individuals and businesses. Not-for-profit organizations should pay particular attention to two extended provisions: a tax break for…
ERM Case Study: Bridges to Prosperity
The Bridges to Prosperity Board of Directors recognized that the rapid expansion of its operations would expose the organization to previously unconsidered risks. It encouraged the management team to develop a robust plan to ensure that the organization could identify, manage, and respond to the risks associated with its new strategy effectively and promptly.
Roundtable Peer-to-Peer Discussion: Recording Contracts with Customers (Topic 606)
FASB’s Accounting Standards Update (ASU) 2020-05 – Revenue from Contracts with Customers (Topic 606) is shaking up how nonprofits recognize and report revenue. Whether you are a CEO, finance staff, or membership engagement staff, this roundtable brings you together with your nonprofit executive peers for a facilitated discussion around how nonprofits are implementing Topic 606….
Financials Face-off: On-premise vs. Cloud
In today’s complicated business climate, you need the latest technology to stay competitive. With an increasing number of people working remotely, being able to close your financials, run reports, make decisions, and keep up with the myriad of changing regulations is paramount. Is your on-premise financial management software helping you grow and compete—or holding you…
How AI Can Reduce Revenue Leakage for Professional Services
This post was originally published on the Sage Intacct Blog According to a recent publication from an IDC analyst, professional service organizations seem to hit a wall on profitability that is often short of their potential. This phenomenon is incredibly pervasive across the industry. The cause is nothing surprising. You can ask any finance leader and…