Boost your Reporting Accuracy to Drive Better Results

Reporting Accuracy leads to well informed decisions as you can understand what you have, think and act strategically, minimizing risks and maximizing opportunities.

Wwithout the right information easily and quickly being available this Not-for Profit was flying blind when it came to decisions about which programs to boost and which to cut.

The Challenge

Boost your Reporting Accuracy

Rapid growth resulted in a more diverse offering, but the the reports remained the same, lacking important details about each location and service.

The expanded services with new programs, combined with extended geographic reach weren’t reflected in the data collection or reporting frameworks which one revenue stream, one activity, and one location.
With staff spread across the country, and a flat management structure there was no clear baseline for expectations or measures of success.

As often happens when reporting is unclear, the business faced several challenges:

  • Poor Decision-Making: Inaccurate data lead to misguided decisions, which may impact strategy, resource allocation, and overall business direction.
  • Financial Loss: Mistakes in financial reporting were resulting in budgeting errors, and cash flow problems.
  • Loss of Trust: Stakeholders, including grantors and donors, started to lose confidence as they were unable to see what was going on where.
  • Inefficiency: Time and resources was being wasted on addressing the fallout from inaccurate reports, with funds and resources being reallocated on the fly.
  • Regulatory Issues: Inaccurate reports were making it difficult to complete accurate grant acquittals, and beginning to cause audit issues.
  • Missed Opportunities: Poor data was obscuring impact trends and insights, causing missed opportunities for growth or improvement.

Reporting accuracy is vital for maintaining trust, making informed decisions, and achieving organisational goals – all of which can impact donor funding and grants.

The Bottom Line

I designed and implemented a new data collection program to capture specific impact and cost measurements to improve reporting accuracy which resulted in:

+ 40%

Increase in Funding

Clearly demonstrating community needs and impact led to more successful grant applications, smoother acquittal processes, and easier desk audits.

+20%

Program Attendance

By closely tracking community needs and outcomes, programs were refined to deliver the right support to the right places at the right time.

– 5%

Programs Offered

Outdated or poorly located programs were consolidated to ensure communities received the most effective services.

Boost your Reporting Accuracy

The Process

Great reporting should take into account both financial and non-financial measures.

The initial step involved collaborating with the finance department to divide the accounts into sub-accounts by location.
This approach produced a matrix that detailed each program’s income from fees and grants, as well as direct staff costs, allowing for the identification of both efficiencies and inefficiencies.
The accounting team then worked on standardising budgets, fees, and costs across all programs.

The following step was to work with the program staff to develop their Theory of Change model – a logical model that articulating how the organisation intends to benefit the communities it works for; this helped clarify and define the exact impacts each program needed to delivery.
From this the measurement and monitoring processes were put in place to create the impact reporting which showed how each program was helping its attendees and where more or less support was needed.

The process went smoothly, with staff focused on achieving the best outcomes. Even tough decisions, like program closures, were guided by clear data, keeping the focus on facts over emotions.

For more information on the theory of change and Impact Measurement, Social Outcomes has this article on Impact Measurement Frameworks.

Focus Simplify Reporting & Monitoring

Enhanced information, accountability, and compliance so you can identify and manage risks and opportunities
Let’s see everything everywhere, all the time…

Boost your Reporting Accuracy

Conclusion

When you have informed decision-making, several positive outcomes follow:

  1. Better Strategic Planning: Decisions are based on reliable data and insights, leading to more effective long-term strategies and goals.
  2. Increased Efficiency: Resources are allocated wisely, and processes are streamlined, reducing waste and improving overall productivity.
  3. Improved Financial Performance: Informed decisions help optimise budgets, control costs, and enhance profitability by focusing on the right opportunities.
  4. Risk Reduction: By relying on accurate information, you can anticipate potential risks and make decisions to mitigate or avoid them.
  5. Enhanced Innovation: With clear insights, businesses can identify trends, market shifts, and new opportunities, encouraging innovative solutions.
  6. Greater Stakeholder Confidence: Transparent, data-driven decisions build trust with donors, employees, granting agencies, and other stakeholders.
  7. Agility and Responsiveness: Informed decision-making enables quicker and more effective responses to changes in the market or internal operations.
  8. Sustained Growth: By making choices rooted in solid information, organisations are more likely to achieve sustainable growth and long-term success.

In essence, informed decision-making empowers organizations to act strategically, minimizing risks and maximizing opportunities.

“Implementing improved impact reporting process with Diamond Advisory has been transformative for our organisation.

It’s given us clear insights into the effectiveness of our programs, enabling us to make data-driven decisions that maximize our impact.

Not only have we strengthened our service delivery, but we’ve also seen more successful grant applications and streamlined compliance processes.

The transparency and accountability it brings are invaluable.”

Nic Psalti

CEO

Let’s Make Wonderful Things Happen

Eve Diamond Expert Support and guidance for NFPs

Eve Diamond

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