Unable to Use Financial Management to Fulfill the Organizational Mission Productively

  • Grants and funding sources don’t have optimal value and leverage.
  • You do not assess grant performance well.
  • You do not know what steps you can take to improve grant performance.
  • Reporting tools for grant performance are not available to you.
  • You do not track costs during the life cycle of a grant effectively.
  • You do not receive the grants you apply for with enough frequency.
  • You do not know the reasons for not succeeding with grant applications.
  • You do not know how to ensure compliance with government regulations for grant management. You cannot demonstrate that compliance is complete.
  • You do not currently calculate the grant amounts used.
  • You cannot go across fiscal years in reporting on grants and their performance.
  • Your current typical costs of obtaining and administrating grants as a percentage of the total grant amounts are too high.
  • Financial management is not responsive enough to the changing needs of Sponsors and causes.
  • You cannot easily adjust to regulatory changes.
  • New laws and regulations often force you to make changes in financial management.
  • You do not effectively ensure that your financial management is in agreement with sponsor guidelines and requirements.
  • You cannot report such compliance to sponsors.
  • You do not accommodate changes in their requirements well.
  • You have spent grant money in conflict with granter guidelines or requirements.
  • You do not effectively evaluate the success of programs and processes.
  • You do not know how to go about improving or eliminating those that deliver low value or have slow response times.
  • Sponsors, granters, and membership are generally unaware of grant performance and the strengths of your financial management.
  • Financial management is lacking in efficiency.
  • The level of duplication in your financial management system today is too high.
  • There are a lot of manual processes.
  • Financial management is not centralized for the entire organization.
  • You do not feel that your financial managers make a strong contribution to the organization’s long-term success.
  • You do not receive their input at a strategic level.
  • You do not use any automation in financial management at all, say, to balance accounts and limit spending.
  • It takes too long to reconcile the books at the end of the reporting period.
  • The user software environment is not comfortable and conducive to high personal productivity and motivation.

About the Author: AJ Amjad Khanmohamed

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