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Over one third of CFOs surveyed report human resource limitations and team bandwidth as the PRIMARY challenge in meeting the expectations of their CEO. Nonprofit finance departments are often juggling the day-to-day accounting and bookkeeping responsibilities alongside more complex and time consuming tasks, such as: HR-related activities; optimizing revenue; mergers & collaborations; data & cyber security; managing the IT investment decision-making process; business process improvements; implementing new accounting standards; and staying ahead of industry benchmarks. This diversity requires constant evaluation of situational or cyclical resource needs, as well as consideration of technological and outsourced options, economic and funding changes, and workforce aptitude & synergies. Rightsizing should be proactive and a constant part of the process of managing an organization, because what is right for the organization today may not be right tomorrow. Rightsizing is a creative, and dynamic process of adjusting one’s organization to be the most efficient, effective, competitive, and profitable it can possibly be.
AAFCPAs Partner Janice O’Reilly CPA, CGMA, a former CFO, provides best practices recommendations for right-sizing your finance function to efficiently address evolving organizational needs.
This audio session was recorded live at AAFCPAs’ April 26th, 2018 Annual Nonprofit Educational Seminar. Slides may be downloaded by clicking the link below:
Watch this video clip (1 min 09 sec) for a summary; and then download the full audio of the session recorded April 26th, 2018 at AAFCPAs’ Annual Nonprofit Educational Seminar.