Budgeting and Reporting Software for Not for Profit Organisations

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Budgeting and Reporting Software for Not for Profit

Budgeting and reporting software within a not-for-profit organizations can accelerate reporting and budgeting cycles. Learn the importance of a good budget and how software can aid your organization.

The importance of a good budget

When used as a tool for strategic planning, a budget enables you to do the following:

  • Coordinate operations around both short and long-term goals.
  • Fine-tune your operational strategy.
  • Make informed decisions.
  • Conduct more productive board meetings.
  • Provide better direction to your nonprofit finance committee.
  • Improve fundraising efforts with better-informed donors.
  • Easily monitor the use of mixed-purpose funds.
  • Make the best use of your funds overall.
  • Stay on track financially.
Working with a Corporate Planner solution can achieve all of this.
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Several types of budget approaches

Several types of budget approaches

There are many different budget models that can be adopted by not-for-profit organisations.
Some approaches are:

  1. Zero Based Budgeting (ZBB) – start from scratch each year and justify expenditure.
  2. Incremental budgeting – start with previous years budget or forecast and increment. Typically this requires the least resource to create.
  3. Surplus budgets – plan for a surplus to invest in future years when times are tough.
  4. Deficit budgets – not a standard approach but may be required in a growth or time of change.
  5. Break even budgets, - identifies funding and targets each part of an organisation to work to a set limit.

All these approaches can be modelled as well as monitored within Corporate Planner to give a single source of truth.

How Corporate Planner can help

Corporate Planner is a budgeting tool which can model all the financial assumptions for an organization. Whereas Excel often produces static and single scenario models which require considerable amounts of time to develop each year. Corporate Planner saves time and resources by providing:

  • Single model for budgets, forecasts, and actual data with multiple scenarios.
  • Monthly management reports.
  • Simple budget and forecast templates.
  • Dynamic I&E, Balance Sheet, and Cash flow models.
  • Multiuser collaborative planning platform (no longer collect and aggregate multiple budget holder spreadsheets).
  • Multiyear planning, provide historic data and budgets as well as forecast 1 or more years ahead.
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Balance Sheet and Cash flow forecasting

Cash flow can be highly volatile within not-for-profit organizations with grants, donations and other revenue perhaps not being distributed evenly throughout a year. It is important to model both revenue and expense assumptions and to predict any short falls in cash. With Corporate Planner Finance, model in detail, debtors, creditors, investments and financing. I&E, Balance Sheet and Cash flow are fully integrated so that any change in assumptions, from budget holders, immediately update the overall plan.

Multiple Scenarios for different stakeholders

With Corporate Planner you can create multiple scenarios e.g. bank budgets, management budgets and department budgets each with different performance targets. Rapidly analyse variances to budgets and forecasts in the single financial model. Use the scenarios for best and worst case so that you are prepared for all eventualities.

Multiple Scenarios for different stakeholders
"We've been using Corporate Planner for more than twenty years. The solution is ideal in that it enables us to visualize new and increasing demands again and again. We greatly appreciate this flexibility and the ongoing development of the Corporate Planning software."
Senior Financial Controller
“With Corporate Planner, reports are created and sent automatically, and we can now run dynamic analyses.”
Peter Erbeznik, Head of Commercial IT
Moser Holding
“The Corporate Planning solution simplifies and speeds up our work enormously.”
Daniel Bohnke, Head of Corporate Performance Management
“Data evaluations that would have previously been produced just once or maybe twice a year can now be retrieved at any time.”
Claudia Scholz, Head of Administration
“The software is easier to handle than other solutions, and the display of the results is much more clearly arranged.”
Stefan Keining, Commercial Director
Franz Ziener
“We have created a transparent platform that has been well accepted by the staff, as all 250 users are now talking about the same figures. This has provided us with a faster flow of information and improved our understanding of the costs.”
Danny Claussen, Head of Controlling
HKL Baumaschinen
“Corporate Planner is perfect in helping us monitor and improve our reporting processes.”
Thomas Diezmann, Managing Director

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