Quatrro's inaugural version of the online benchmark survey was conducted between July and September 2016 with the goal of gathering information for not-for-profit organizations and charities to benchmark themselves against their peers. More than 1,500 senior NFP industry executives across educational, religious, human service, seminaries, foundations and associations participated in the survey, providing information on the prevailing financial reporting practices, revenue and expense structures and overall operational performance.
Key results from the survey include:
- 61% of the Not-for-profit organizations who responded stated that their financial health has improved over the previous year
- Of those who responded, a majority of not-for-profit organizations have begun outsourcing their finance and accounting to experienced 3rd party providers - Larger NFPs (groups with annual budgets of more than $10 million) are leading the trend and as a result have experienced significant benefits
Charles Harmornick, President, Quatrro Business Support Services, said, "Quatrro is pleased with the tremendous industry response to the inaugural edition of our NFP Benchmark Survey. It's also heartening to learn that the industry is beginning to recognize growing contribution of finance and accounting service providers to lower cost and enhance process efficiencies." Charles further added, "Quatrro prides itself on being a trusted partner for our nonprofit clients by not only being subject-matter experts for nonprofit organizations but also sharing these key performance indicators prevailing in the nonprofit industry trends and best practices."
As a follow up to the 2016 Industry Benchmark Survey, Quatrro will also publish a comprehensive benchmark report that will use aggregated data collated from the survey to predict industry trends and analysis.
About Quatrro Business Support Services (Quatrro)
Quatrro Business Support Services, one of the leading businesses under the Quatrro brand, consists of a range of affordable business support services that are offered through industry's first 'Click and Buy' interface on the cloud. Built on the innovative 'Internet of Things' concept, the digital portal enables SMB clients to review, evaluate and buy a bundle of services off-the-shelf on a 24x7 basis.
Quatrro offers a broad range of platforms and cloud-based accounting services by leveraging industry's leading accounting platforms designed to create economies of scale resulting in enhanced financial visibility, lower costs and improved business processes. Its client base includes more than 6500+ Small & Medium Businesses across auto parts, restaurant, retail, healthcare and hospitality industries, that include franchises of some of the legendary and iconic brands in the nation, as well as not-for-profit organizations. For more information, visit http://www.quatrrobss.com
United States Contact:
Vice President -Sales & Marketing
Associate Vice President - Market Development
SOURCE Quatrro Business Support Services