A desk with a laptop and tablet with a view of a vast valley

Financial Sovereignty

Many Indigenous communities have developed strong financial and business capacities. But technology has changed the nature of work. It is shaping the way you learn, build business, and connect.

Financial sovereignty within Indigenous communities means having more control and building capacity within your own government and administration to manage your financial affairs with your people and resources. Your communities’ economies hold much potential – empower your members now and for generations to come.

MNP’s Digital Finance Program

Our digital finance program is an integrated financial and administration management solution built specifically for Indigenous governments and organizations. Our solutions do not include co-management or third-party management. Instead, we work together to develop a cloud accounting model to support those already within a community to do the work. We layer independent learning programs into the model to ensure effective financial management and build capacity – moving your community into a self-sustaining network and the management of prosperity.

Accurate and timely financial data means better community service.

Traditional accounting can require substantial manual data entry,  taking time and effort away from other more important issues such as community impact, user experience, security, and Indigenous self-determination.

The charts below outline top activities performed by key nation finance-related positions and how much time (as a percentage of their total time) they would spend using an old system, for example, Sage 300, Adagio, Xyntax, QuickBooks Desktop, etc., versus using a new cloud-hosted system such as Sage Intacct, Xero, or QuickBooks Online.

laptop on a desk with a sunset landscape behind it

Finance Clerk

Activity % total time, old % total time, new
Data entry 50% to 70% 35% to 50%
Payment processing 10% to 15% 5% to 10%
Finding documents, filing
5% to 15%
0% to 5%

Band, Department, Program Manager

Activity % total time, old % total time, new
Finance-related duties 10% to 20% 5% to 10%

Finance Manager

Activity % total time, old % total time, new
Data entry
5% to 15% 0% to 10%
Payment processing/reviewing 5% to 15% 0% to 5%
Reconciling & reporting
20% to 30%
5% to 15%

Authorized Approver

Activity % total time, old % total time, new
Review & Approve 10% to 30% 5% to 10%

Key Benefits

  • Cloud software can save you time and money by making data and software accessible online anytime, anywhere, from any device – without costly upgrades. 

  • Increased security and capacity as the hard drive on your computer or laptop is no longer the central hub.

  • There is no lag in reporting or in visualizing financial results – you can see your current financial position at any time.

  • Fewer errors take place because there are fewer manual entries.

  • Data about your income and purchases can flow straight from your bank to your books so you don’t spend hours transcribing them.

  • Multi-user access makes it easy to collaborate online with your members.

  • As online software, there’s nothing to install or update, and all your data is backed up automatically. 

  • You can set up a dashboard showing important financial information including accounts receivable and accounts payable, and how your cash flow is looking.

  • An increase in financial management lays the groundwork for greater autonomy. It gives you and your community the opportunity to exercise financial literacy, build skills and confidence.

There are certain signs that may indicate you will benefit from a cloud-based solution, including: 

  • 1. Your team needs to work outside the office: cloud-based software allows you anytime, anywhere accessibility.

  • 2. The community needs to accelerate financial processes without increasing headcount or IT budget.

  • 3. Your financial system needs to integrate with other applications. 3. Your financial system needs to integrate with other applications.

  • 4. Managers want or need self-service access to their relevant key performance indicators: real-time visibility.

  • 5. You struggle with inefficient processes.

Approach

platform assessment

01. Platform Assessment

Establish where your technology systems stand.

plan for success

02. Plan for Success

Define your goals with strategic use of technology.

establish a foundation

03. Establish a Foundation

Work alongside experts to train your team, launch the platform, and enhance financial mgt.

connectivity

04. Connectivity

Identify your internet and network connectivity challenges.

solution selection

05. Solution Selection

Ensure your next software, hardware or service purchase meets your unique needs.

Implementing MNP’s Digital Finance Program

Whether you are utilizing an existing enterprise resource planning (ERP) program or are interested in implementing a cloud-based accounting model for the first time, we work with you to provide tools and resources to support your community now and generations into the future.

Digital Government Pitch book

Get your free assessment

We can help you understand the financial systems available and provide options that make the most sense for your current and future objectives. Reach out to an MNP Business Advisor to learn how we can provide your government and administration with the information they need to better serve your members.

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Contact us

Kenny Ansems CPA, CA, CAFM

ease Director and Provincial Director (BC & YT), Indigenous Services

Kenny Ansems, CPA, CA, CAFM, is MNP’s ease Director and Provincial Director of Indigenous Services for the B.C. and Yukon region. Working out of MNP’s Vancouver office, Kenny delivers assurance, taxation and business advisory services with a focus on First Nations and other Indigenous businesses and organizations.

With more than 32 years of experience in public and private practice, Kenny helps clients set strategic directions and realize their visions. As well as providing core accounting services, Kenny also participates in financial co-management engagements and assists clients in economic development activities, including corporate structuring and governance.

Before joining MNP, Kenny worked with an international accounting firm, and also contracted directly as a financial manager for several First Nations, giving him in-depth understanding of Indigenous issues and challenges. He takes pride in playing a role in his clients’ successes and in his ability to deliver timely solutions to even the most challenging problems.

Kenny was designated a Chartered Professional Accountant (CPA, CA) in 1991 after receiving a Bachelor of Business Administration degree from Acadia University. In 2001, he became a Certified Indigenous Financial Manager (CAFM).