Nonprofit | Technology
September 18, 2024
|In our experience, the relationship between technology and nonprofits can be tricky. We've observed that many nonprofits and associations have been hesitant to embrace new technologies and digital accounting software as they emerge. These organizations are often well-established, and change can seem risky, particularly when it involves managing long-standing donors, grants, and other essential processes with traditional methods firmly in place. Plus, restrictive budgets pose a challenge, making the adoption and organization-wide rollout of new technology, like cloud-based accounting software, a costly endeavor.
However, enhancing technology can often lead to significant long-term savings while providing the tools and data needed to support nonprofit missions better. We frequently begin our client conversations with a crucial question: How well does your technology support your mission? More often than not, we discover critical gaps that are hindering progress toward their goals. It all started with understanding the value of technology and how it supports your mission.
Let's explore how upgrading technology can not only fill these gaps but also empower nonprofits to thrive.
While many areas within a nonprofit can benefit from updated technology, your accounting and financial processes should be the priority. Everything ultimately ties back to how you manage your accounting and finances. Outdated technology or manual processes likely create bottlenecks for all areas of your organization. These inefficiencies slow access to critical data and information needed for impactful decision-making.
Cloud-based digital accounting software is becoming the industry standard and offers numerous benefits, including:
When you have better access to financial data, you can make decisions that drive growth and better support your organization’s mission long term.
Accounting technology is where we recommend starting, but it isn’t the only space where technology improvements can help nonprofits. In fact, improving your accounting technology can make it easier to implement other technology advancements like those below.
On the opposite end of the technology and nonprofit spectrum lies the risk of neglecting system upgrades for years. Each time leaders postpone or avoid these upgrades, the organization not only falls behind its competitors but also accrues what’s known as “technology debt.” While a single upgrade may seem costly now, delaying it until it becomes unavoidable will likely be even more expensive.
This is why we strongly recommend staying up-to-date with new technology developments, especially when your current systems roll out updates or enhanced software.
Nonprofits face numerous challenges when trying to adopt new technology or digital accounting software, but with the right strategic planning, your organization can avoid being left behind.
We all know that your mission should be driving the day-to-day tasks of your organization. But do you know if it drives the selection or maintenance of your technology solutions? See if your current tech stack supports the work you’re trying to accomplish by taking our free tech assessment.
Chadd Arthur is a seasoned professional with over 25 years of experience in the non-profit sector, specializing in process improvement and the strategic alignment of organizational goals with technology solutions. Leveraging his extensive expertise, Chadd conducts regular strategic assessments for organizations, guiding them towards enhanced efficiency and effectiveness. With a profound passion for aiding clients in recognizing the value of process improvement, Chadd leads our team in secure technology solutions that directly contribute to their mission success. His commitment to excellence is evident in his contributions to the industry, including participating in panels and serving as a thought leader to a network of non-profit professionals. Chadd earned his MBA from Indiana University Bloomington and resides outside the greater Chicago area. Chadd not only brings a wealth of knowledge and experience but also a dedication to making a meaningful impact in the non-profit space.
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