Consero’s Finance as a Service model includes a team of finance experts and a cloud-based accounting solution that automates key finance and accounting processes to bring you efficient operational support as well as visibility into the data that matters to you.
The routine tasks of accounting and financial management are challenging for so many nonprofit organizations. Everyone needs the basics of accounts payable and receivable; however, the nonprofit organization has a unique set of requirements.
Many nonprofits receive dozens or hundreds of grants and directed donations in separate income streams. Donors want to measure the impact of their investments. Not-for-profit organizations need to generate: statements of activities, financial position, cash flow, and form 990. That can be challenging to manage, especially if you’re your limited by your processes, systems, and the finance & accounting skills of your team.
Some of the unique challenges that not-for-profit organizations face:
- Limited budgets leave little room for technology and software upgrades
- A lack of a strategic CFO to manage financial needs
- A small staff with limited qualifications
- Establishing separate closes for each revenue source
- Properly recognizing revenue
- Reporting and tracking revenue sources
It goes without saying that accounting for the not-for-profit industry is complex. To add to those challenges, hiring, training and retaining skilled labor can be very costly. Outsourcing is a viable solution and a powerful tool that can help a variety of businesses take a more efficient approach to their accounting and finance needs.
Consero’s Finance as a Service model goes beyond outsourced accounting. It brings visibility into financial performance across the organization and all chapters. Our team and software automate the accounting processes to boost efficiency, accuracy, and consistency.
The result? You’ll have reliability in your business operations and confidence in your finances to enable you to make the decisions to continually improve, grow and meet the needs of those that you serve. Additionally, our service is a fixed, predictable, and manageable expense.
What You Can Do with Consero’s Financial Console
Get tighter cash management and stronger internal controls with Consero’s financial console. As your organization grows, it is critical to have a clear line of sight into your finances. Consero gives you experienced finance staff and all the data you need, when you need it. Our team delivers financial guidance and data in a format that makes sense to your executive team.
Our experienced finance team and software make it easy for you to analyze and evaluate how your organization and all its locations are operating with on-demand, easy-to-generate, easy-to-read reports presented in your own real-time dashboard. Spend less time gathering data and generating reports, and more time making decisions based on accurate, current data.
- Manage monies by grants/donors, programs, geographies, and other dimensions
- Quickly see what’s happening across your nonprofit organization
- Keep tabs on cash flow to optimize cash management
- Set budget for each event, campaign, program, and funder
- Track the actuals to create tighter controls and prevent unexpected outcomes
- Manage capital budgets
- Access your data 24/7 and grant similar access to remote managers
- View metrics such as daily visits, revenue per treatment, and available capacity
- Location or region-specific reporting
The Benefits of Consero’s Solution
Transparency is essential for securing and keeping donors and sponsors on board. With Consero, you will experience the following benefits within the first 30 days:
- Offload transactional processing
- Optimized operational processes
- Improved financial and accounting leadership
- More timely and accurate financial reporting
- Complete transparency and visibility
- A Cloud-based software that enables optimal productivity and efficiency
- Consolidated data from multiple applications
The Consero Difference
Anyone can use basic accounting software. Anyone can outsource their bookkeeping. Only Consero offers a comprehensive finance department you can trust to bring you the people, the technology and the processes that ensure your organization’s finances and operations are running at the speed of your business.
The software can only go so much on its own. We take it a huge step forward by providing you with the expert guidance and support that saves you time, frustration, and energy. When you outsource your finance and accounting to Consero, you’ll have confidence in your numbers and time to spend on the initiatives that grow your organization.
“The change from in-house to outsourcing has transformed the current financial reality and future-outlook for ALPFA. With increased visibility into accounting information and financial changes that led to increased revenue, we are finally on sure footing.”
Gabe Rodriguez, ALPFA – Treasurer and Board of Directors
Ernst & Young – Global Finance Director and U.S. Firm Assistant Controller