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In a time of economic uncertainties, staffing shortages, and day-to-day operational challenges, nonprofit organizations are responding to sustainability challenges by optimizing operations.
As organizations work to increase efficiency, how they use technology is essential. In 2023, 43% of nonprofits used seven or more tools daily, limiting employee efficiency and splitting data between systems.
Overcoming Operational Challenges
Multiple, single-purposed pieces of technology contribute to inefficiency. On average, nonprofit employees spend a third of their day managing data between systems.
These inefficiencies contribute to errors related to manual entry and can limit visibility into nonprofit operations. Storing data in multiple systems opens an organization to error and builds barriers between departments.
Organizational leaders are responsible for promoting collaboration, data sharing to help nonprofits overcome operational challenges, and ensuring departments are running efficiently by not relying on manual data sharing. If one department lacks complete visibility, it contributes to inefficiency and makes it harder for the organization to make informed decisions.
For example, if either team creates a report with incomplete or missing data it can create complications that could lead to compliance errors. A lack of coordination can lead to errors in financial reports or non-compliance with funding restrictions, potentially leading to legal issues or loss of donor trust.
By consolidating vital operational functions into an integrated nonprofit software suite, your organization can strategically unify its data, eliminate manual entry, streamline reporting workflows, and align each department toward your organization’s most significant goal: accomplishing its mission.
Improving Nonprofit Efficiency
Integrating fundraising data and your financials on one platform increases efficiency, saves time, solves manual workflows, breaks down departmental barriers, and unifies departments. With a single solution, finance teams have complete visibility into an organization, reduce errors from incomplete data, and can benefit from standardized reporting workflows to increase organizational visibility and efficiency.
Finance teams can benefit from using an integrated system in the following ways:
Saving Time on Manual Data Entry: Save time and reduce the back-and-forth between departments by integrating your fundraising data into your financials. This makes it easy to access the information you need without the extra time spent on manual entry or uploads.
Budgeting and Forecasting: Sharing fundraising goals and expected revenue streams lets your organization align financial projections with expected donations to ensure financial stability and sustainability.
Expense Tracking: Tracking expenses related to fundraising activities positions your organization for accurate event budgeting, tracking marketing expenses, and other fundraising expenditures, enabling better financial decision-making and resource allocation.
Grant Management: With more accurate financial data, your team can easily pull report reports required for grant applications and identify areas where your nonprofit may have funding shortfalls
Procurement: An integrated solution reduces waste and improves speed on e-requisitions and layers of approvals. The electronic process eliminates the need to track down team members for approvals.
Strategic Planning: An integrated solution simplifies influencing long-term financial strategies, campaigns, and resource allocation. Integrated reporting allows for a deeper analysis of fundraising effectiveness, return on investment, and overall organizational performance, leading to more informed and collaborative strategic planning.
Payroll: An integrated solution lets finance teams collaborate with Human Resources and Benefit teams to handle payroll duties in a timely and efficient manner. An integrated solution also increases visibility and hands-on access to employees to foster a culture of transparency, care and collaboration.
Creating Nonprofit Success
Organizations recognize the need to be more efficient to accomplish their missions. As nonprofit leaders work to position their organizations for sustained success, technology fosters collaboration, increases efficiency, and positions organizations to realize time savings. Leverage GiveSmart and MIP to drive efficiency for your nonprofit. Seamlessly flow fundraising data to your financials, manage grants, handle payroll and more with one nonprofit suite.
Discover how an integrated nonprofit solution can position your nonprofit for continued success.
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