Tides Captures and Measures Their Cost-to-Serve Using Journyx
What Journyx did for us:
Since using Journyx Timesheet, we’ve seen a more general awareness of how we spend our most critical resource—our peoples’ time.
Tides is a nonprofit that was started in 1976 to partner with philanthropists, foundations, activists, and organizations across the country and globe to promote economic justice, robust democratic processes, and the opportunity to live in a healthy and sustainable environment where human rights are preserved and protected. Tides is a vital resource for the nonprofit social change sector through its grantmaking, nonprofit management, and nonprofit spaces programs. Tides works to make the world a better place, and since its inception, it has managed project and grantmaking activities totaling over $1.5 billion.
Tides uses Journyx Timesheet – a timesheet and expense management solution – to track time and perform business analytics that reveal costs at the client, service, and product levels. Additionally, Tides uses Journyx Timesheet for internal cost allocations and billing, external invoicing and billing, and managing IT projects.
Timesheet captures and measures the cost-to-serve for Tides; managing these costs is critical to the sustainability of Tides’ business model. The data provided to Tides by Journyx Timesheet helps enable business decisions around efficiencies, staff management, and capacity needs over time.
“We now have real, applicable data for teams to use in making business and programmatic decisions. As a nonprofit intermediary service provider, we are very interested in building a more robust, sustainable organization that can create more impact in the world, and Timesheet helps us with that,” said Lauren Webster, CFO, Tides.
Tides plans to use Timesheet to test new pricing models, measure return on investment, and connect operations and financial data with impact measurement.
“Since using Journyx Timesheet, we’ve seen a more general awareness of how we spend our most critical resource—our peoples’ time,” said Webster. “It’s all about understanding how we spend our time, and using that as an opening to conversations around quality, performance, and sustainability. We use the data to improve our client service, and be smarter about how we best serve our different clients.”
For Tides, improving service and finding efficiencies is an important part of their service model. Because Tides empowers organizations to effect meaningful change, they care about real-world results. With the help of Journyx Timesheet, Tides optimizes the service levels they themselves can achieve, passing the added value forward into their network of change agents. Tides and the organizations they support are better able to create and support change nationwide.
Tides actively promotes change toward broadly shared economic opportunity, robust democratic processes and the opportunity to live in a healthy and sustainable environment where human rights are preserved and protected. Founded in 1976, we offer an array of services that amplifies the efforts of forward-thinking philanthropists, foundations, activists and organizations to make the world a better place. With offices in San Francisco and New York City, Tides provides fiscal sponsorship for over 200 groups across the country, operates and supports green nonprofit centers, and granted more than $101 million in 2009 alone. For more information, visit www.tides.org.