How to improve cost handling and tackle spend invisibility
A recent Third Sector survey, conducted in partnership with Soldo, raised questions around how much visibility charities have over their spending. Only 13% of respondents found it ‘very easy’ to manage financial outgoings. 39% cited 'overspending' as the biggest financial risk within their organisation, and a further 25% cited 'accountability'…
Charities often still use outdated and paper-based systems to manage their finances. It makes it more difficult to track and prove spend. Can you account for every penny spent by your staff and volunteers? Are you handling financial outgoings in the most efficient and transparent way?
If you don’t feel as though you have total visibility into your charity's costs, it may be time to modernise. And if you have unrealistic and unfair expectations of how your staff and volunteers are expected to handle costs, you will struggle in the long term and risk eroding their trust, motivation and loyalty.
What are your pain areas when it comes to handling spend? This webinar, in partnership with Soldo, will address your issues and answer:
- Where are the most common pitfalls – and what are the opportunities to improve spending practices?
- How can charities make their financial outgoings more controlled, visible and centralised?
- How can charities make spending experiences better and more efficient for staff and volunteers?
- How can charities make it easier for staff and volunteers to make payments and do expenses?
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Andy Hillier has worked for Third Sector since 2011 and was appointed Editor in the summer of 2016. He has conducted a number of high-profile investigations, including Third Sector’s study into senior executive charity pay, and interviewed some of the biggest names in the charity sector. He is now Business Director.
Before joining Third Sector, he was deputy editor of Children & Young People Now, a magazine for professionals working with children and young people.
Andy is a keen cyclist and campaigns for safer roads in his spare time.
Stuart Gammon is the Chief Revenue Officer of Soldo, responsible for scaling Soldo’s customer base throughout Europe. Stuart has 18 years of sales experience within both the for-profit and not-for-profit sectors. Prior to Soldo, Stuart was Regional Vice President at Box, working with Oxfam, Green Peace, Save The Children and .Org.
Nigel Davies has been Head of Accountancy Services at The Charity Commission since 2014, and also Joint Chair of the Charities SORP Committee. Davies is a qualified accountant and he joined the Charity Commission in 2001.
He oversees the work of the team of accountants who cover all accountancy aspects of operational and inquiry activities for the Commission. He leads for the Commission on accountancy related collaborations with umbrella organisations, professional accountancy institutes, technical panels and working parties. He regularly speaks at events and conferences on charity accounting issues and publishes articles on charity accountancy matters.
Zoe Amar is one of the charity sector’s leading digital experts. She founded digital agency and social enterprise Zoe Amar Digital in 2013. Zoe is Chair of The Charity Digital Code of Practice. She writes for Third Sector about charities and digital issues and co-founded the Social CEOs awards. Zoe has ten years’ experience as a charity trustee. She also sits on the Board Audit and Risk Sub-Committee at the Samaritans as their digital expert. Previously, Zoe worked for five years as part of the leadership team at a national charity which advised nonprofits about technology. She recently won an Inspiring Communicator award from Charitycomms.