Transparency is a trusted catalyst
In a context where several NGOs have been questioned for their mismanagement, donors have become more and more demanding with regard to the duty of transparency in our financial management. We have nothing to hide and we are doing everything possible to be compliant and stick to our values, but today the number of our missions has increased and it seems that the tools in place are no longer appropriate. We are aware of this, but the means that should be provided for adequate improvement seem very heavy for a structure like ours.
Like most international organizations, we depend on grants and donations that will continue to fund our projects only if stakeholders understand how funds are used and that trust is established over time.
We attended the conference about "How to improve donors’ trust through transparency and technologies for NGOs?" last April at CAGI. Jérôme Chincarini presented this topic and we decided to contact Synergix.
We had the same problem as the one given as an example: our systems and our governance did not work well together because the different departments were not connected. Yet, we need a solid financial analysis to be able to easily report to different donors and obtain additional funds.
The accounting firm helped us prioritize and organize the various pieces of information, then set up explicit and relevant analytical trends adapted to our NGO.
After a thorough analysis of our operation, Synergix has simplified and optimized our administrative management. Unlike before, everything is now digitized. We are done with the many Excel spreadsheets that go from one office to another. The margins of error are reduced, everything is much faster and the information is accurate and up-to-date. Setting up analytical trends and implementing real-time accounting allows our NGO to track the expenses and the use of funds at any time.
Based on our data and visualization software, Synergix has also implemented dynamic and interactive reports for our NGO. In this way, we have everything we need to make the best decisions and we can clearly present donors with controlled fund management.
To learn more, download the complete case study: How can a new generation fiduciary support your NGO towards the efficiency you need to carry out your projects?
And discover the articles: How to increase transparency in your accounting? - The advantages of cost accounting by project / donor for an NGO.