With the right
Every nonprofit needs employees, data points, and a financial system to be able to run the operation and deliver the mission. For example, a health and human services organization’s mission is to provide community based services. To be able to deliver its services, at a minimum, its funding and revenue sources need to be tracked and reported against with accurate allocations while making sure that all the spending is controlled by tracking budget against actual. For an association, add to the list the need to
These needs could be taken care of efficiently by deploying
The lack of a profit motive does not mean a non-profit organization can afford to be less focused on its finances. In fact, with scarce resources, efficiency in allocation becomes even more important. The allocation of funds and subsequently reporting on operating expenses, salaries and short and long term project funding all require complex reporting. The manual workload to produce these reports is frequently very high which absorbs significant time and resources. The return on investment of ERP for non-profits centers around delivering accurate and easily generated reports. This frees up substantial administrative time that can then be allocated more productively elsewhere.
ERP systems provide both tangible and intangible cost savings that help every dollar go further for not-for-profit organization’s mission. Funds are managed easily to ensure that the organization is adhering to reporting guidelines while tracking several different funds for various projects or contracts and reduce human error and intervention in data management. With a grant management feature, productivity and time savings will increase to the point which the nonprofit can afford to hire a dedicated grants manager or grant writer which in turn increases the chance to receive more grant funding in the future.
If you’re considering implementing an ERP system for your organization, but aren’t sure where to start, or