Outsourcing accounting and financial services at your nonprofit can be a game-changer, as Carole Melvin, the regional director at Your Part Time Controller (YPTC), highlights in her insightful interview. She explains how outsourcing these services can provide nonprofits with specialized expertise, cost savings, and scalability while allowing them to focus on their mission. It’s a trend that is likely to gain momentum as nonprofits discover the benefits of this approach. As Carole aptly puts it, “You’re not just hiring one person; you’re hiring the whole firm.”
According to Carole, outsourcing is a business practice where an organization contracts out specific functions to an external service provider, with the goal of leveraging specialized services, reducing costs, improving efficiency, and allowing the nonprofit to focus on its core activities, such as programming and fundraising.
During this fast paced interview, you’ll learn about the types of outsourcing, the annual tasks typically done, where the cost savings are, how flexibility plays a key role, and the timelines of finding and engaging with these outside experts. Carole also digs into how the outsiders integrate with the NPO team and what the board involvement might look like.
She wraps up the discussion with some insightful comments on the future of outsourcing.