QBSS launches Liquidity Stress Testing Tool to usher in an era of meeting the new compliance requirements for the nonprofits
ATLANTA, GA June 14, 2019 -Quatrro Business Support Services (QBSS), focused on delivering end-to-end business support services to the non-profit industry, is investing in leading edge technologies and tools that can assist the Board and management of today’s non-profits, in complying with the quantitative and qualitative disclosures required by the new accounting pronouncements (FASB ASU No. 2016-14). QBSS’s Liquidity Stress Testing Tool will be an end to end solution, leveraging automation, to not only identify strategic requirements necessary to achieve liquidity for operating opportunities, but also to enable analytics and actionable insight for future activities by evaluating the effects of growth and substantiating requests made in funding proposals.
As non-profits face increasing pressure to meet compliance requirements while reducing costs, they are looking for breakthrough solutions that can help them to produce the liquidity reports and stress tests. QBSS’s Liquidity Stress Testing tool automatically analyzes assumptions and variables affecting cash flow over a forecast period of up to 5 years – eliminating manual workflow, saving non-profits significant time and resources, and thereby helping them to meet compliance requirements.
Charles Harmornick, President, Quatrro Business Support Services, said, “We continue to invest in new tools and are excited to bring this holistic, unique and market-leading, automation driven proposition to the non-profit industry”. Charles further added, “50% of the nation’s nonprofits are operating with less than 1 month’s cash reserves. In that environment, the current manually intensive approach to forecasting and generating liquidity reports is simply not sustainable and needs an innovative approach. Through robust pilot testing, our new Liquidity Stress Testing Tool has proven that the majority of forecasting can be successfully automated in a fraction of the time and cost”.
ABOUT QUATRRO BUSINESS SUPPORT SERVICES (QBSS)
Quatrro Business Support Services, one of the leading businesses under the QBSS brand, consists of a range of affordable end-to-end business support services aimed at meeting the needs of small to medium sized businesses while also scaling to meet the needs of enterprise organizations. QBSS offers a broad range of platforms and cloud-based accounting and payroll services by leveraging the industry’s leading accounting/payroll 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 the , restaurant, retail, healthcare, childcare, hospitality and non-profit industries, including franchises of some of the most iconic brands in the nation. For more information, visit quatrrobss.com
