Ah, pesky little accounts payable.
 
Without proper technology and oversight, A/P can easily be one of the biggest thorns in your side. The reason for that is two-fold:

• It’s expensive – It can cost as high as $15 to manually process one invoice from receipt to payment. This is one of the highest costs in your back office.
• It’s inefficient – The workflow process is laden with opportunity for errors. A toddler running free in your office could make less mess than an A/P mistake.

 
So, what’s the solution? How can your small business, nonprofit or social enterprise relieve this operational pain point?
 
First, we must address the common misconception that QuickBooks Online (QBO) is sufficient for A/P. Solely, it is not. Our team at Blue Fox use both platforms together to most effectively serve our clients.  (Our Top 4 Back Office Tech Tools)
 
Recently our CEO, Chantal Sheehan wrote a guest feature post for Bill.com that highlights the unique benefits only Bill.com software can deliver. They are:

• Higher variety of role assignments for automated multiple approver workflows
• Lower costs for international payments, and streamlined currency exchanges
• Digitized document trail for future audit preparation
• The Intelligent Virtual Assistant (IVA): an accuracy and efficiency dream come true
• Automated data transfer between platforms: one transaction in Bill.com automates three transactions in QBO

 
Don’t get us wrong, QBO is simply amazing. We’re just saying that both platforms used together catalyze each other’s benefits.
 
Our full article gives specific details and examples. It’s a must read!
 
Then, give Blue Fox a call at (321) 233-3311 or email us when you’re ready to automate and streamline your back office. When that’s taken care of, you can focus on what really matters: your mission and serving your community. 

Melbourne, FL (August 14, 2019) – Virtual accounting firm Blue Fox has partnered with donor management software provider Bloomerang to provide educational content to nonprofit organizations in the area of financial management. Alike in their missions, these companies provide back office services to nonprofits and charities; Blue Fox offers bookkeeping, payroll, and tax preparation, and Bloomerang’s platform focuses on fundraising support and donor management.
 
The first publication, How to Wow at Your Next Board Meeting: 4 Tips for Meaningful Money Conversations, written by Blue Fox CEO Chantal Sheehan, is now available at www.bloomerang.co. It can also be accessed through Blue Fox’s blog at www.yourbluefox.com.
 
Blue Fox CEO, Chantal Sheehan said, “The majority of resources available to nonprofit leaders are dedicated to marketing and fundraising. And while those are important, it’s also vital for nonprofit executives to build financially sustainable organizations. There are not enough professional resources out there dedicated to nonprofit fiscal management. Blue Fox aims to change that as we share our expertise. We thank our partners at Bloomerang for giving us another platform.”
 
In addition to their guest editorial for Bloomerang, the Blue Fox team regularly publishes on their blog at www.yourbluefox.com/nonprofit-social-enterprise-financial-blog. Article topics range from the importance of kindness in leadership to QuickBooks tips specific to nonprofits to how to get a clean audit.
 
For more information about Blue Fox call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.
 
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ABOUT BLUE FOX: Blue Fox provides customized financial and back office services for social impact organizations (nonprofits and social enterprises). Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. The Blue Fox mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.

Hold tight. What I’m about to tell you might make you cringe. If it doesn’t, we need to talk!
 
One of the last nonprofits I consulted for used an Excel database to record checks received. A part-time recent college graduate was in charge of retrieving the checks and compiling the bank deposit. 
 
Were there errors? Sometimes.
Did this staffer have questions? Often.
Did they have questions they never asked? Probably.
Was this process efficient? No!
 
Queue my broken record: There has to be a better way!
 
I’ve worked in the social impact sector most of my life. I think nonprofit professional do-gooders are highly innovative, intelligent and creative. Truth: we are scrappy geniuses. Put that on your resume!
 
So, why are some nonprofits still operating in the paper trail dark ages? Excuses of the past are no longer valid. Today’s back office technology is widely available, user-friendly, cost-effective and downright awesome! Fox-tastic, as we say at Blue Fox.
 
[Don’t Let FinTech Scare You – Our Top 4 Back Office Tech Tools]
 
Don’t feel bad if your back office is behind the times. You’re not alone. This Yale Insights article highlights a shocking fact, “According to NetChange’s long-running survey of technology use by nonprofits, only 11% view their organizations’ approaches to digital as highly effective.”
 
Imagine what your nonprofit could accomplish if your back office was humming away in a highly efficient manner?! Theoretically, you could do more than 89% of other nonprofits. Not that it’s a competition. ;)
 
Well, I take that back. I’m a competitive person, and let’s face it: all nonprofits are competing for market visibility and funding. These two functions directly affect your nonprofit’s ability to make a positive impact in your community.  
 
Moral of the story: free up back office inefficiencies and go after what really matters.
 
So, how much time does technology and automation actually save you?
 
Giveeffect, a nonprofit software provider found that automation can save an organization over 30 hours per month. That’s huge! I say, take those 30 hours and throw them at mission related work. 
 
Do I have you thinking yet?
 
It’s almost 2020. People thought cars would fly by now. Even more, people thought they would fly by now. (I was promised a jetpack!)
 
Technology advances are slow in some industries, but your nonprofit’s back office can and should be fully automated with today's proven tools. No excuses. Our team at Blue Fox uses the best-of-breed technology and we train our clients how to be FinTech rock stars.
 
We understand, change is hard. That’s why we encourage you to invite a professional nonprofit-focused accounting firm to help along the journey. Wink, wink – that’s us!
 
Make a virtual appointment with our CEO today. It’s time to get up to speed with the latest technology. Consultations are complimentary and often enlightening. Call (321) 233-3311 or email hello@yourbluefox.com.
 
Blue Fox will get you sorted!
 
Author: Chelsea Clementi, MBA, Director of Marketing & Business Development, Blue Fox
 
Resources:

• Can Technology Transform the Nonprofit Sector?
• Smart Automation Can Save Your Nonprofit 30 Extra Hours Per Month

If you’re like us, your daily inbox is jam-packed with newsletters and educational opportunities from like-minded social impact leaders. These spectacular humans work around the clock to foster positive change in their communities. Then, somehow, find time to share their story with fellow nonprofit enthusiasts. We tip our hat to them!
 
Here are just a handful of our favorite nonprofit resources this month:

• (VIDEO)  Measuring Fundraising Effectiveness: Interview with Andy Davis
• (BLOG)  Here We Go Again: The Cyclical Nature of Board Behavior
• (TOP 10)  Ted Talks for Nonprofit Leaders
• (BLOG)  Breaking #BadNonprofitHabits: Unrealistic Overhead Ratios
• (RESEARCH)  SalesForce.org Study: 40% of Nonprofits Planning to Integrate AI for Marketing

 
Thanks for stopping by to read our picks for top nonprofit news this month! If you’re interested in hearing more from us, subscribe to our newsletter today!
 
About Blue Fox: Our team provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to comprehensive virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com. 

​Nonprofit leaders, can you relate?

You spend half a day anxiously preparing for your upcoming board meeting. Organizing financial information. Preparing board packets. Anticipating questions. Printing. Compiling. Binding. Documenting and reminding.
 
Then you sit at the head of the table and begin your meeting. It seems to be going okay. You’ve only had to pull one board member back on track so far. But, here comes the presentation of financials.
 
You look around the table as each member studies the income statement and balance sheet. What they heck are they thinking? You wonder if they are just playing mental sudoku with the numbers. Silence. And more silence. And then, someone asks, “So, how do you feel the organization is doing financially?”
 
You explain the details but are met with blank stares and generic questions about why last year’s gala made $700 more than this year’s gala.
 
There has to be a better way. A better way to guide financial conversations. A better way to present the data. A better way to tap into the knowledge, experience and leadership that sits around your board room table. And, a better way to show your board that you are in control of the ship.
 
Recently our CEO, Chantal Sheehan wrote a guest feature post for Bloomerang that provides real-world actionable advice on how to generate meaningful conversations about money with your board of directors.
 
Here are some of the highlights from that article:

• Ask your board leadership what information they would like to see presented
• Conduct an anonymous survey to gauge financial understanding, before and after changes in presentation style
• Use dashboard style presentations for easy comprehension and comparison
• Make a FAQ sheet to prevent the same questions from being asked over and over
• Respond your leadership team’s financial concerns before the meeting to eliminate surprise questions

 
Read the full article for more tips and advice on how to proactively manage your board meetings, especially the conversations about financials!
 
Side note: Bloomerang recently added us to their Nonprofit Consultant Directory and we could not be more proud! 

Nelson Mandela said, “Sometimes, it falls upon a generation to be great. You can be that great generation. Let your greatness blossom.”
 
Here’s what I think:
 
We are one of those generations
We are social entrepreneurs and impact leaders
We are concerned worldly citizens
We start businesses that address society’s most pressing social problems
We can and will be great
 
Our generation knows that poverty, resource depletion, prejudice, lack of education, healthcare and other important issues must be addressed on a wide scale. The social enterprise movement is one piece of the puzzle called progress.
 
According to The Good Trade, “A social enterprise is a cause-driven business whose primary reason for being is to improve social objectives and serve the common good.” And, Forbes describes a social enterprise as “an enterprise where at least 50% of the profits are invested back into a charitable cause.”
 
It turns out that Millennials (a.k.a Generation Y/Generation Now) are a driving force in social enterprise – they firmly believe that purpose and profit should be linked. They (we) sometimes get a bad rap but most of us care about the footprint we leave behind.
 
And, the question of the day. What does this have to do with accounting and back office services? Why are we blogging about this?
 
Well, if you didn’t know, our team at Blue Fox serves not only nonprofits, but also social enterprises focused on mission-driven work.
 
Last week our CEO, Chantal Sheehan said, “I would love to be able to look back on a life where I accomplished important things for people doing really good work.”  That’s right our boss-lady is legit! Social impact minded? I think so!
 
Are you personally a catalyst for social good? If you’re not, do you want to be?
 
What can you do to support the social impact movement, and as Mandela encourages, “Let your greatness blossom”?
 
Here are a few resources that may inspire your next step.

• Work for a social enterprise – 10 of the best by LifeHack
• Invest in one – 3 tips by Startup Grind
• Start your own - 5 questions to ask from Forbes
• Buy from them - 5 reasons why by InventShift

 
An article I just read today, by Social Good Stuff began, “Social Enterprise – is it a trend, a revolution, or something in between?” What do you think?
 
Author: Chelsea Clementi, MBA, Director of Marketing & Business Development, Blue Fox
 
Resources:

• 3 Tips for Investing in a Social Enterprise
• 10 Innovative Social Enterprises that are Improving the World
• Conscious Consuming: 5 Reasons You Should Buy from A Social Enterprise
• How To Create A Business That Does Good With A Social Enterprise
• Millennials Are Rapidly Changing Today's Business Landscape — Here Are 6 Reasons For It
• Social Enterprise Statics from Around the World
• What Is A Social Enterprise? A Simple Definition & 3 Examples

 

​Why is kindness often seen as a weakness in business? Wouldn’t you prefer your professional acquaintances be kind and collaborative as opposed to pushy and aggressive? So, why are corporate environments typically filled with overly assertive or aggressive dynamics? It’s so old school.
 
No one wants to be bulldozed in business! So, let’s stop doing that to each other. Kindness is in! In fact, kindness actually leads to increased productivity and profits – plenty of research is out there to back that up.  
 
Recently our CEO, Chantal Sheehan wrote a guest blog post  for the productivity platform Hive on the benefits of kindness in business. (Side note: We use and love Hive!)
 
Here are just some of those benefits.
Kindness is proven to:

• Foster creativity
• Increase employee retention
• Breed collaboration and productivity
• Lower health care costs
• Build leadership influence

 
Read the full article for the research, evidence, and real-world examples that prove those benefits. You won’t be disappointed! 

If you’re like us, your daily inbox is jam-packed with newsletters and educational opportunities from like-minded social impact leaders. These spectacular humans work around the clock to foster positive change in their communities. Then, somehow, find time to share their story. We tip our hat to them! Here are just a handful of our favorite resources this month: 

• 6 Questions to Ask Before You Start a Social Enterprise
• 4 Strategies for Making Your Social Enterprise Stand Out from the Crowd
• A Five Step Guide to Starting a Socially Impactful Business
• Remote Workers Are Outperforming Office Workers - - Here's Why
• Can Social Enterprise Ever Be Big Enough to Change the World

Thanks for stopping by to explore our picks for social enterprise news this month! If you’re interested in hearing more from us, subscribe to our newsletter today!
 
About Blue Fox: Our team provides customized, boutique financial and back office services for social impact organizations. Services range from standard bookkeeping and payroll services, to coaching and consulting, to comprehensive virtual CFO services. Our mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com. 

Our team just came across a must-share article! Nonprofit leaders and friends - we urge you to read: Choosing a nonprofit accounting tool: top six questions to ask, published by NTEN and written by  Pia Simeoni. It’s comprehensive and robust!
 
This article is for nonprofit organizations that may not have the latest and greatest financial technology. If it’s time to make a change, where do you start?  
 
Read the full article for answers to these six questions:

1. Why does my organization need accounting software?
2. How flexible is my software budget?
3. Will the software help me track my campaigns?
4. What else should my accounting software help my nonprofit do?
5. What if my nonprofit gets audited?
6. Will we need to switch software again in a couple of years?

 
Our team at Blue Fox is always available to help you upgrade your systems. We bring you up to speed with software and processes that produce accurate and actionable financial data. And, that’s the kind of data that leads to insightful strategic decision making. Yes, we’re offering to make your life easier.
 
Let’s make your systems talk! Call us at (321) 233-3311, email hello@yourbluefox.com, or simply schedule your free consultation!

Melbourne, FL (July 1, 2019) – This week, virtual accounting firm Blue Fox announced its recent accreditation by the Better Business Bureau (BBB) serving Central Florida. As a BBB Accredited Business, Blue Fox is dedicated to promoting trust in the marketplace. 
 
Founder of Blue Fox, Chantal Sheehan said, “More than anything, we value building trust and camaraderie with our social impact clients. It’s a true honor to receive the BBB Accreditation. Our team is fully committed to maintaining the highest standard of ethics and service.”
 
According to BBB reports by Princeton Research, seven in ten consumers say they are more likely to buy from a company designated as a BBB Accredited Business. BBB is a resource for the public providing objective, unbiased information about businesses.
 
BBB Accredited Businesses must adhere to BBB’s “Standards of Trust,” a comprehensive set of policies, procedures and best practices representing trustworthiness in the marketplace. The standards call for building trust, embodying integrity, advertising honestly and telling the truth, being transparent, honoring promises, being responsive and safeguarding privacy.
 
The Blue Fox brand is fairly new to the social impact accounting services scene. In 2018 they rebranded from the name With Balance and began to offer a wider breadth of services beyond consulting, education, and coaching. Services include bookkeeping, payroll, consulting, tax preparation and full-service virtual CFO. Following the company’s rebranding, their revenue tripled confirming the need for this unique combination of services in the social impact (nonprofit and social enterprise) space.
 
Blue Fox is currently accepting new clients for onboarding fall 2019. Onboarding typically includes one month of high-touch communication and is reserved for one or two clients per month.
 
For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.
 
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ABOUT BLUE FOX: Blue Fox provides customized financial and back office services for social impact organizations (nonprofits and social enterprises). Services range from standard bookkeeping and payroll services, to coaching and consulting, to full-blown virtual CFO services. The Blue Fox mission is to disrupt the traditional accounting model through technology, innovation, and a radically client-focused approach that truly empowers nonprofits and social enterprises. For more information call (321) 233-3311, email hello@yourbluefox.com, and visit www.YourBlueFox.com.
 
ABOUT BBB: BBB’s mission is to be the leader in advancing marketplace trust. BBB accomplishes this mission by creating a community of trustworthy businesses, setting standards for marketplace trust, encouraging and supporting best practices, celebrating marketplace role models and denouncing substandard marketplace behavior. Businesses that earn BBB Accreditation contractually agree and adhere to the organization’s high standards of ethical business behavior. BBB is the preeminent resource to turn to for objective, unbiased information on businesses and charities. Contact BBB Serving Central Florida at 407-786-9008.