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By Donald Cassady, President/CEO, GMS, Inc.
1. Paying bills too early: You don’t want to get in the habit of paying bills simply because they’re on your desk. If you have a bill that is due in net 30, wait until you’re closer to that 30-day point to pay the bill. If you pay a bill early, the only cash management you are helping is that of your vendor. Keep that money in your bank account for as long as you can so you can potentially make some discretionary interest on it.
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 Where did you work before joining GMS and what role did you play?
I was the Finance Director at Community Action Committee of the Lehigh Valley in Bethlehem, PA. Prior to that I was in public accounting. What role(s) at GMS did you play before becoming CEO? I was originally hired as Field Staff, and when I came off of the road I was Director of Accounting Services. What do you enjoy most about being a part of GMS? Without a doubt it is the closeness and common goal of the staff. Being spread out across the country, for the most part we only see each other twice a year at our staff meetings. But we all share a common goal in that we truly care about our clients and want the best for them. This is a special relationship and I am closer to this staff than any group I have ever worked with.  Q. How long have you been with GMS, what is your background and how did GMS come about?
A. I have been with GMS since June 1, 1984. Prior to working for GMS, I was the Financial and Administrative Manager at the Headwaters Regional Development Commission in Bemidji, MN for 11 years. GMS was incorporated in 1980 by founders Ralph Webster and Don Berkheimer, who started GMS as a service bureau while finishing developing the Accounting and Financial Management System. From 1980-1984, they finished programming the software while operating the service bureau and starting to make a few sales. Q. What has been the driving force behind the company’s growth over the past 30-years? A. To begin with, it was the founders and the employees combined with the demand of computerized nonprofit accounting software over the first 15 years of the company’s existence. Since then, I think it is due to the dedication from the employees and the satisfaction of seeing the results in so many of the nonprofit agencies. Q. Where do you see nonprofit accounting and financial management going in the next several years? A. Agencies are going to have to be more accountable for the federal and state dollars that they spend and will be looking for more efficient ways how to handle day to day functions. Q. In these hard hit economic times, what are some of the trends you are noticing in nonprofit accounting and finance and what is GMS doing to stay a major player? A. The last few years we’ve seen a cutback on agencies changing software and more cautious on spending. We’ve offered some discount prices to help accommodate them. Q. What feature in the GMS system do you believe sets you apart from other nonprofit accounting software providers? A. Our internal cost allocation by far stands out from any other system. Also a few things like document attachment and auto PDF reports also stand out which other software providers will soon catch up on. |
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Since 1980, GMS, Inc. (Grants Management Systems, Inc.) has designed specialized software with a demonstrated record of success for nonprofit and public organizations throughout the United States. For over 30 years GMS has successfully implemented accounting and revolving loan systems for grant and contract recipients, and continues to provide support long after the initial implementation of these systems, setting us apart from our competitors.
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10559 Metropolitan Avenue - Kensington, MD 20895 800.933.3501 |
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