Measuring Performance Against Peers Provides Opportunity for Continuous Improvement
SAN RAMON, Calif., Jan. 21, 2021 (GLOBE NEWSWIRE) -- Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., today announced the release of its Benchmarking for Nonprofits solution. By harnessing big data and presenting it in an easy-to-navigate dashboard, nonprofit organizations can gain insights into financial performance year-over-year and against similar groups in their region and nationally.
“Every nonprofit executive director or board member knows that budgeting and finance are the most critical and challenging aspects of their work, and can often be the difference maker in their ability to make a positive and lasting impact in their communities,” said Paul O’Grady, Armanino partner-in-charge of the Nonprofit practice. “That’s why we worked with the firm’s Data & Analytics team to build a robust and intuitive dashboard platform that can show nonprofit leaders exactly where they stand with revenues and expenses, which elements of the organization are most costly, and how they perform against peers and even themselves.”
With easily digestible visuals, the Benchmarking for Nonprofits solution was designed with transparency in mind. As nonprofits serve many stakeholders, the dashboard was designed to help tell the full financial story to a variety of key stakeholders, funders, donors, boards and peers.
The team curates a large database of regularly updated financial data of more than 300,000 organizations, from a plethora of sources including proprietary research, the Internal Revenue Service, federal websites and Amazon Web Services. This library of information can be used by nonprofit groups to identify and detect trends in their field of interest.
“Traditionally, benchmarking has been a time-consuming manual process and often relies on out-of-date information,” said Alex Gyorffy, senior manager of Armanino’s Data & Analytics group. “By aggregating the latest data available and automating this process, nonprofits can immediately get insights into the finances of peers and evaluate their own financial position. Our goal is to empower nonprofits in making data-driven decisions that improve their financial health.”
To learn more about the Benchmarking for Nonprofits solution, please visit: https://www.armaninollp.com/360-solutions/data-powered/nonprofit-benchmarking/.
About Armanino LLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
Kyle McGuire, AMF Media Group
925.790.2788
kyle@amfmediagroup.com