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Improved Financial Insights Help CMA Maximise Funds for Music Education

Comprehensive Forecasting and Reporting Encourages Collaboration and Better Decision- Making

My accounting team now has the ability to review metrics and data at a much more detailed level, which in our business, means a difference between giving a school $15,000 and $1 million. It’s made a huge difference.

Jennifer Crowder, Senior Accounting Manager, Country Music Association

  • For over 50 years, the not-for-profit Country Music Association (CMA) has focused on heightening awareness of country music. It also has a mission to support music education in school programmes. To achieve these goals, the CMA needs a clear picture of its financial performance. Now, with the Adaptive Suite, the organisation collaboratively has streamlined its budgeting and quarterly forecasting processes. It is more accurately tracking operating expenses, helping the CMA to maximise donations for school music programmes. And with Adaptive Discovery, CMA is tracking membership and monitoring ratings for its television broadcasts to instantly assess revenue performance.

    Challenges

    • Difficulty using spreadsheets to monitor operational expenses

    • Time-consuming monthly reporting processes

    • Accountability and ownership of quarterly forecasting

    Results

    • Simplified budgeting and forecasting provides more time to analyze data

    • Improved analysis and management of operational expenses

    • Self-service reporting helps broader team make data-driven decisions

  • About:

    Since 1958, the Country Music Association (CMA) has dedicated itself to promoting country music through industry events, networking, research, educating corporate America, and three annual national television events. The associated CMA Foundation focuses on supporting music education programmes in schools across the United States.

    Location:
    Nashville, TN
    Industry:
    Nonprofit

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