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Solver | February 10, 2023
Navigating FP&A Challenges and Trends for Nonprofit CFOs
Introduction: As the Chief Financial Officer (CFO) of a nonprofit organization, financial planning and analysis (FP&A) plays a crucial role in ensuring the long-term financial stability of the organization. With increasing pressure to deliver more impact with limited resources, NFP CFOs face numerous challenges and trends that need to be addressed to improve business outcomes. Top 10 Challenges and Trends:
- Limited budgets and resources
- Difficulty in generating accurate and reliable financial reports
- Lack of visibility into financial data
- Difficulty in forecasting and planning
- The need to provide more value-added insights
- The need for better financial controls and reporting
- Increasing regulatory and compliance requirements
- The need to support fundraising and grant management
- The need to support strategic decision-making
- The need to manage and reduce financial risks
TAGS: Reporting, Planning, Forecasting, Budgeting, CPM, KPIs, ERP, FP&A, Industry, Financial Reporting
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