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Bringing Nonprofit Financial Management into the Cloud

Bringing Nonprofit Financial Management into the Cloud

From stricter rules to higher expectations from stakeholders to the premise that you have to operate on a much lower budget than your for-profit counterparts, managing a nonprofit poses challenges on multiple fronts. This said, it’s the nonprofit who can properly bring the most out of people, technology, and processes that can deliver the highest impact to stakeholders, members, or whomever they hope to serve.

Going Beyond the Status Quo to Handle the Challenges

Short term, long term, finance, marketing, operations, and more—getting everything aligned for the present and future can pose challenges for nonprofit leaders, especially for those held back by manual processes. Now, imagine the challenges that you have today, but imagine them after a major shift in funding (for better or worse).

Think of your nonprofit organization with twice the funding—how will you keep up? Think of your nonprofit rebounding from a funding hit—how will you return to normal?

Handling both of these poses a challenge, and even with a highly adept staff, the idea of catching up with growth or rebounding from a downturn may be unsurmountable without the right technology.

The Key to Addressing Challenges Faced by an Nonprofit

If you look at your current processes, you know there is room for improvement. Maybe the path to this improvement isn’t as clear as you had hoped, but you know you need to do something. So where can you begin?

  • Reporting to New and Existing Donors: One of the biggest needs for a nonprofit organization is to diversify funding. However, in order to do this, you will need to think of who your new funders will be, what questions they will have, and how to answer them. This is why reports should be available at the click of a button, so your fundraisers can communicate the importance of your organization to potential donors.
  • Scaling and Partnering: Many nonprofits have worked to partner with other organizations to improve their impact on the community. Much like answering to potential donors, possible partners will be doing due diligence to ensure they have a worthy partner in your organization. While a successful partnership will help you grow, an unsuccessful one will be a detriment to your name.

Guide: How Nonprofits Are Bringing Finance and Accounting into the Cloud and Into the Future

Whether your nonprofit is a foundation, public charity, fraternal society, social advocacy group, professional trade organization, or another entity with a mission to serve, your community depends on you. You’re dedicated to ensuring long-term success, and you depend on your people—employees, volunteers, and donors—as well as your administrative and IT infrastructures to keep the wheels in motion.

We would like to invite you to download our newest guide: How Nonprofits Are Bringing Finance and Accounting into the Cloud and Into the Future. This will share challenges and opportunities you need to address as you proceed, and how the cloud will help tackle the challenges.

Preview the guide below and download it here.

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