While non-profit organisations (NPOs) don’t earn profit through their operations, they also engage in a complex process that requires time, manpower, budget, and other resources.
Just because they’re a non-business entity doesn’t mean they’re exempt from stress and headaches. They perform various tasks (i.e. event planning, database management, setting up of fundraising activities, etc.) to stay on track and achieve their goals.
This is why non-profits should invest in a tool that will help fulfil their mission in providing support to communities. Software applications like ERP is a promising solution because of its versatility and utility.
Luckily, benevolent organisations can now take advantage of it because non-profit ERP software now exists. Read on to learn more about how such a system benefits non-profit associations.
How Can Non-profits Benefit from ERP Software
Manage Funds Better
Funds run a non-profit. Without money, charitable institutions and local chapters will not be able to promote themselves and deliver their good acts.
Non-profits tap sponsors and reach out to private entities or government to obtain funding sources. Since there’s a need for more funds to operate, they don’t stick alone with phone calls, leaflets, and referrals.
NPOs now realise the value of social media in raising awareness, inspiring supporters and drawing donations. They leverage social media for fundraising to create more opportunities for funding.
With a large number of contacts and sources that non-profits organisations manage, the work may tend to be long, complicated and strenuous. This suggests the need for an ERP system.
Such a tool makes multiple funds management a breeze. It enables users to track funding sources independently, achieve financial transparency, generate financial reports,execute financial management, and so on.
If funds fuel a non-profit, people make the impossible possible. Without concerned individuals, NPOs will not be able to bring campaigns or programs to life.
The partners, donors, sponsors, volunteers and other charitable people play a pivotal role in the process. Everyone takes part in helping the get word out, executing plans, and making every project worthwhile.
No wonder non-profits do the best they can to continually gain supporters and maintain the interest of existing members. Just like how they build funds, they also reach out to people via phone, direct mail, email, social media, and other modes of communication.
Through non-profit ERP software, such non-business entities can keep their membership database organised. This app provides users with an option to segment member accounts into specific groups.
Not only that, account owners can also make use of the program’s messaging capabilities (i.e. mail-merge tools and automatic email responses), produce custom forms and applications, create membership terms, and set up renewal grace periods.
Comply with Industry Standards
Similar to for-profit organisations, not-for-profit ones have to keep themselves in compliance as well.
They execute several tasks to act per company bylaws. Examples of such tasks are keeping good records, filing 990 informational return, conduct proper board meetings, pay taxes on unrelated activities, and more.
These things should be duly accomplished otherwise their reputation will be put at stake. Their failure to obey regulations violates the public’s trust including the potential donors, sponsors and others.
To avoid facing regulatory compliance issues, non-profit ERP software should be used. This program offers the perfect solution because most ERP vendors designed their systems to comply with state laws and industry standards.
Additionally, the software is engineered witha built-in firewall, data access control, and other tight security features that facilitate compliance.
The Bottom line
Non-profits can’t serve the public good and fulfil their mission if they’re processes and people aren’t intact. They must incorporate software applications like ERP to keep their operations running smoothly.
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