In the wake of Covid-19, demands on both public and private funds are higher than ever. Charities will be under increased scrutiny, with those that can provide clear and accurate impact reporting in the best position to secure funding.
There is currently a huge reliance on the exclusive use of Excel or paper-based accounting methods, as well as a large number of charity finance workers only producing monthly reports. This leads to inaccurate and insufficient reporting – which can, in turn, harm the fundraising prospects of these organisations. By examining the core obstacles to better finance reporting, Sage and Charity Digital have identified solutions that can improve the financial capabilities of UK non-profits.
Many non-profit organisations are either unaware of the tools available or cannot access these tools for other reasons (i.e. capacity issues, cost, resources), and even amongst those who have access to them, many find accountancy software too technically daunting and not user-friendly.
This webinar explores the concept of Organisational Financial Literacy (OFL), defining the concept and exploring the benefits and positive outcomes associated with increasing OFL. This includes better impact reporting (making charities a more appealing prospect for funders) and a more sustainable financial future for non-profit organisations.