Nonprofit organizations need ultra-efficient and cost-effective modes of operation if they want to maximize the impact of their often-limited funds and take control of technology shortfalls. They do not have the same degree of freedom as for-profit organizations, where an item of expenditure is easily canceled out by profit from a business transaction.
The need to cut costs by any means necessary tends to affect nonprofits negatively. What stays and what is taken out of the list of expenditures is often subject to priority bias and subjective decision-making. Too often, the cost of subscription fees for sophisticated accounting and business management software is replaced by the cheaper services of a volunteer “YouTube-certified” bookkeeper.
This is but one of the many scenarios where nonprofits prioritize mission-driven initiatives like volunteering overpaying for a high-quality service.
One question you may ask yourself to justify the decision is: “Am I missing anything special?” To answer this question, it’s crucial to understand some of the biggest challenges facing nonprofits and the technology shortfalls that follow.
Technology Shortfalls: Nonprofits Are Racing Backwards
Statistics show that only a handful of nonprofit organizations use cloud-based accounting and engagement management software. The tools are invaluable to the collation, recording and accurate computation and calculation of numbers. You may argue that an expert accountant may do a just-as-good or even better job; however, this premise is faulty for two apparent reasons.
First, fundraisers are time-based events involving large transactions that require speedy record keeping, calculation and data retrieval. Wasting time on any of these processes can make your organization come off as untrustworthy or incompetent, which is bad for “business.” Second, expert researchers and accountants developed these software packages with your organization types in mind. This makes them specific to your needs and reduces the chance of computational error.
What if your finances are already taken care of? What’s next? Organizations in the nonprofit sector require efficient and effective business operations for a more significant impact. Linking every part of your operation provides a more holistic approach to track and optimize each process. Your cause may be commendable, but the fact remains that donations will dry up over time if each business process is not optimized.
How iMIS and Sage Intacct Level the Playing Field
A well-run nonprofit organization is built on trust, transparency and consistency. One of the best ways to attain these qualities is to utilize tools like iMIS and Sage Intacct’s cash management software. iMIS is a cloud-based engagement management system (EMS) that makes it easy for your nonprofit to engage members, donors and other processes. iMIS EMS can be streamlined for your organization. With this tool, your business processes will be rid of redundancies that bog down the staff. With a higher level of efficiency and production, you and your team will be able to focus on the things that truly matter, your mission.
Nonprofits’ technological shortfalls, such as lack of website optimization and payment issues that may frustrate donors or members in the process of making donations, purchasing merchandise, registering for events and any other self-services, are a thing of the past with the implementation of iMIS. The software processes payments via a secure route to prevent malicious attackers from snooping and has free responsive website templates built-in. You can also improve communication with partners by planning virtual meetings and sending scheduled emails with iMIS.
The cloud-based component of iMIS ensures that members of your not-for-profit organization can access documents remotely from any browser, limiting the computing resources that would have been needed to run the application remotely.
When your nonprofit’s finances become ambiguous and there are too many inconsistencies in reports, donors and stakeholders will find you unreliable. Sage Intacct’s cash management software can help reduce your dependence on error-prone data entry and track the cash flow across all invoice types.
Take Charge and Improve Your Nonprofit’s Operations
Adequately managing and linking your organization’s operations is crucial to its overall impact. For this reason, your organization can benefit from the iMIS engagement management software package that allows you to control and improve individual processes and track their progress. Intuitive Business Concepts will help you tailor the features of this software to suit your unique business needs. For more information or to schedule a demo, call us on 443-603-0215 or fill out the contact form on our website.
About IBC: At IBC, we have a deep understanding of the critical business needs and processes specific to associations, non-profits, and unions. We ‘get’ your culture, your goals, and what drives you, too. Focused exclusively on and dedicated to delivering the most effective AMS , LMS , and Cloud Financial Software for our clients, we’re well-versed in identifying and applying the integration techniques that will save you time and money. Since 2001, our cutting-edge products, unparalleled responsiveness, and award-winning services have helped organizations like yours increase their operational and financial performance by leveraging best practices and proven solutions. For more information about IBC, please visit the website at www.ibconcepts.com or call 443.603.0215.