Adding MIP Fund Accounting? How to Get Your Tech Budget Approved in Two Easy Steps

MIP Fund Accounting

Thinking of adding MIP fund accounting to your wish list this year, but not sure how you’ll ever get the budget for it? Tips learned from The Center for Association Leadership can help you pitch and sell your nonprofit tech budget with minimal pain.

Sure, you’ll have to explain the needs to your board, and possibly to others, in order to convince them of the need for funding. But fortunately, MIP fund accounting software tends to be easier to explain than some other types of software. Making the case to purchase MIP fund accounting can take place in just two steps.

Step 1: Link It to Member Needs

The better you can build a case linking your technology purchase to member needs, the more likely you are to get the green light and the budget. The directors and supervisors at your organization are tasked with keeping members’ needs in mind at all times. That includes clients and constituents, or the people you serve. When you build a case linking technology budgets to solving problems for members and constituents, the directors will be more likely to approve it.

MIP Fund Accounting provides your organization with greater transparency and better accuracy when tracking expenses. Detailed reporting on every aspect of your organization’s finances will fulfill your members’ needs for accurate, timely information on how their funds are being managed and used to fulfill the organization’s mission.

Step 2: Set Mission-Critical Metrics

From the start of your tech budget request, communicate the specific metrics by which you will measure success. Specific metrics provide an objective benchmark by which to assess how well the new purchase has helped you achieve your goals. Whether it’s reducing costs by 5 percent or maximizing investments, you can show how your MIP fund accounting purchase will help achieve specific goals.

Presenting Your Case

Presenting your case for new technology purchases to members, the board of directors, or C-level executives can be challenging. Each stakeholder has different information needs; everyone looks at the ideas and information through the lens of their own self-interest. Executives want to be sure the purchase will help the organization grow. The board may wish to limit costs. Fellow members and coworkers may simply want to know what this new technology purchase will do for them.

To present your case, gather all your background data and facts and distill them into the simplest ideas possible. Don’t overwhelm your ideas with tons of facts, but present the most important items first, then build a supporting case. People’s attention spans are short, and you’ve only got seconds to get them on board.

 

Practicing your pitch beforehand often helps. If you’re on a team evaluating the purchase together, then ask team members to listen to your pitch and offer suggestions.
The right MIP fund accounting software can make accounting tasks easier. It can also make your organization’s funds transparent and easy to understand for all. By approaching the request for funds in a logical fashion and using these steps, you stand a better chance of successfully acquiring the budget for your purchase.

Abila MIP Fund Accounting from RBP Methods

RBP Methods offers Abila MIP Fund Accounting software to help nonprofits manage their accounting needs. Abila MIP Fund Accounting enables you to report and track the most important information for your board, your supervisors, and others eager to see how your nonprofit’s resources are being used. It’s a great MIP fund accounting software for many nonprofits.

RBP Methods has helped nonprofits just like yours select the right software, whether it’s Abila MIP Fund Accounting or another product, to help them fulfill their mission. We’ve worked with nonprofits for over 20 years and know the challenges that you face. For more information about Abila MIP Fund Accounting and other software solutions, please contact us or call 503-648-9051.