Q&A with Centage/Budget Maestro’s Michael Rybacki, Director of Channels on How Savvy Nonprofits are Automating and Streamlining Their Budgeting Process
The evolving, continuously improving nonprofit organization has three internal areas of focus: people, processes, and systems. Leading nonprofits are increasingly leveraging systems, solutions and technology to automate and streamline their budgeting process in order to gain optimal stewardship and program effectiveness.
Q: What problem do you solve for nonprofit organizations?
Michael Rybacki, Centage/Budget Maestro: Budgets are extremely important for nonprofit organizations. They’ve got to keep overhead and fundraising costs low so that they can maximize their impact. The finance team plays a very important role in this. Budget Maestro helps them track spend to grants, allocate personnel costs across programs and provide visibility into key performance indicators. It gives nonprofit organizations a faster, more detailed and more accurate way to budget, forecast and report. Our nonprofit customers say that Budget Maestro helps them make better decisions.
Q: What trends in technology do you see that nonprofits can benefit from?
Cloud computing has reduced a lot of IT overhead. SaaS products like Intacct and Budget Maestro can be deployed and maintained with little to no IT intervention. It’s even better when the applications can talk to each other through an integration or API. Budget Maestro has an Intacct connector which eliminates the need for manual transfer, increasing accuracy and speed to information.
Q: Who are some of the nonprofits that use Budget Maestro – how has Budget Maestro helped them?
Food Lifeline of Seattle, WA cut their budget process in half with Maestro. They’ve moved to a monthly re-forecast, adopted a 10-year plan and used Budget Maestro’s “what if” tools to optimize their employee benefits package.
CompTIA is a non-profit trade association that describes Maestro as “an immense time-saver”. They are now able to provide accurate and highly detailed budget-to-actuals variance reports in a fraction of the time.
Q: How does Budget Maestro save time and money for Nonprofit organizations?
Budget Maestro automates a lot of the cumbersome, error-prone and time-consuming tasks of spreadsheet-based budgeting and reporting. It’s prebuilt business and financial logic allows users to create complex calculations without lookups and formulas. Our customers report a major time savings (often 50% or more) for the annual budget cycle and a shorter month-end close. With Budget Maestro, they can reallocate this “found time” to analysis – identifying potential cost savings and efficiencies.