With a continuous stream of challenges facing nonprofits and ongoing battles to prioritize correctly, your organization must address, face, and find solutions to such challenges that include, but are not limited to, financial, environmental, and demographic constraints. Knowing where to put our focus and what is even worth consideration with endless demands on our time, energy, and resources can be challenging for nonprofits. Maximizing potential with financial constraints considering all of the factors involved can be daunting. Getting the desired performance out of your nonprofit is not easy, but it is possible. One such performance indicator that we looked at last week is transformation. Being open to change and development, embracing and allowing it, and using nonprofit financial management tools well are all important to nonprofit success.
This week, let’s take a look at the second performance indicator, technology, that is a huge part of assisting in an organization’s transformation and also in its performance. Our modern and technological society demands that we don’t ignore this area that can truly be fundamental in achieving success.
Embracing the Opportunity: Using Technology to Enhance your Nonprofit Organization’s Financial Success with Nonprofit Accounting Software and Other Software Options
There is no denying that technology in today’s world is a necessity. Keeping up with technology translates into keeping up as an organization overall. Technology is critical, but nonprofits often fail to leverage the opportunities it provides. Often times even the true need for technology can be overlooked by nonprofits or justified as not necessary due to financial constraints or lack of buy in from stakeholders. Unfortunately, this may seem okay for organizations to limit their technology use or not stay up-to-date, but this will ultimately be costly.
Part of the transformation and constant development your organization needs is an ongoing process of enhancing and upgrading nonprofit accounting software and grant management software that can automate processes, help with managing data, and create more efficiency at your nonprofit. Making the right investment choices in technology that will support your organization’s efforts and enable further transformation is key in this area. From a financial perspective, this involves gathering the right information that will be used by nonprofit stakeholders to support investment decisions and calculate cost and value benefits. Here at RBP Methods, we would be happy to assist you in this process of making informed nonprofit accounting software decisions and can provide you with many options to meet your specific needs. Then, your organization will need to use this information and research of technology options to make decisions with regards to which technologies and software will be implemented that will truly benefit the organization. Finally, successful and methodical implementation of the decided upon technologies is important. Again, RBP Methods is here to help in this entire process: exploring software options, choosing the best fit for your nonprofit, and implementing the software with ongoing support.
What forms of technology are especially worth consideration in our current, modern age?
- Social technology and how fundraising software can help by using social networking as a catalyst
- Mobile technology and the ability to access fund accounting software data you need from anywhere
- Analytics technology
- Accounting and financial system technology plus cloud technology including nonprofit accounting software, grant management software, and fund accounting software options
Knowing which technology options to invest in that will result in the best return on investment and knowing how to execute a strategy to roll out new systems can be challenging. It is important to prioritize what is needed and what will be most beneficial, understand costs and outcomes, and communicate clearly to stakeholders as to what decisions are being made and how users will be assisted in the implementation process.
Contact us here at RBP Methods to learn more about the many nonprofit accounting software options that are available and how to implement those to help your organization manage its finances in a technological world. Be sure to visit our blog again next week as we look at transparency which is yet another key performance indicator that will help in your organization’s success.