There is often a common misconception that non-profits aren’t large enough to benefit from using ERP and CRM software in their operations. However, there are multiple ways in which they can improve processes and increase efficiency through these tools.
Organizations can use the tools to keep track of their ever-growing membership, contributions, and other donor contributions data. This article touches on why it is crucial to manage non-profit donor contributions and how you can use the available tools to increase efficiency.
Why Should You Manage Your Donor Contributions?
To Create a Comfortable Environment for Donors
Creating a comfortable environment is essential when persuading potential donors to make notable contributions. A comfortable environment for donations is one where the donor’s personal and financial information remains private. A donor management system will help create a safe and secure transaction environment and guarantee accuracy and transparency in all transactions.
According to a recent survey, most non-profit companies fail at delivering easy and glitch-free contribution transactions. These firms also have security weaknesses that compromise donors’ private data, discouraging the act of giving considerably. Investing in a donor contribution management system will help dissolve most of these operational inefficiencies.
Increase Reach with Polish
Steady growth in participation and revenue is a common goal for all non-profit organizations. It would help to consider investing in effective ERP software to provide a more polished public image to the public. The tools will also offer your organization professional-looking materials, modern e-commerce services, and an attentive customer care department.
Modern Efficiency
You should make your non-profit operations and cash management more efficient to guarantee success for your firm. Donor management software will reduce overhead and expenses, allowing you to use less workforce while maximizing data accuracy.
The software will manage your donor contributions by automating online payments and the registration process. The fees for processing checks and credit cards also get reduced, encouraging donors to contribute more.
Reduce Workload
The efforts required to run your operations will significantly be reduced after implementing a donor management system. You may need some weeks to train your workforce, but it’s all engine running after that. The system automates tasks like sending tax documents and donation acknowledgments, providing more time for other core functions.
One major challenge most non-profit organizations face is the lack of basic fundraising systems. High-performing firms utilize donor databases and other practical tools like GoldFinch ERP and Salesforce CRM for strategic planning and more accurate data.
Scalability
Growth remains to be an essential aspect when running any non-profit organization. Donor management systems help your firm grow its member base painlessly, allowing your business to achieve its objectives. These systems effectively handle fluctuations in field offices, process flows, and data volumes. Instead of creating a new entry manually every time a new member joins your movement, you can invest in donor management software and automate the exercise.
Data Collection and Analysis
Data collection and analysis are other activities made more manageable by implementing donor management systems in your non-profit business. The tools help import existing data into the system and add new accounts automatically as your members grow. You can quickly identify the amount contributed by each member, their level of involvement, investment potential, and their preferences or tendencies.
How ERP Helps Manage Non-Profit Donor Contributions
Multiple Funds
ERP allows small non-profits to manage multiple funds under one program. This system helps manage the funds contributed by your donors better and ensures your practices adhere to the respective reporting guidelines. You can effortlessly classify the donated funds according to their various projects or campaigns and maintain high accuracy.
An added feature is the Cloud, which allows employees or board members to access the data and reports remotely. Since most of the exercises are automated, human error is reduced significantly. GoldFinch ERP is among the few tools that provide these cloud features and additional advantages.
Fundraising
Fundraising is vital in non-profits as the practice generates significant funds for the business. ERP helps non-profits establish and maintain healthy connections with donors by understanding them better. You can know how much a specific donor has contributed, their frequency, and other elements while reducing the expenses on the fundraising campaign.
Membership Tracking
Most non-profit organizations have rolling memberships, which means a yearly contribution is required. Instead of having fixed dates for when the year starts for your business, you can invest in ERP to allow members to contribute according to when they signed up. It is challenging to track when each individual should renew their contribution without these tools.
How Xledger and GoldFinch Help Non-Profits
Xledger features among the world’s most powerful financial management tools that non-profits and charities can benefit from using. It provides one solution for all your fund accounting and donor management needs, providing you with better insights. The benefits your firm receives include reduced costs and increased operational efficiency.
Integrating this tool with an ERP system like GoldFinch improves productivity significantly. The features guaranteed by this combination are market-leading finance automation and auto-replies to important sales documents. You will enjoy:
- Real-time business intelligence insights
- Reduce training costs (since you continue using your current database structure and interface)
- Minimize overhead
Conclusion
The information shared here explains the upsides of integrating an ERP and CRM tool into your non-profit operations. The tools will help you manage your donor contributions more effectively while providing your firm with an opportunity to grow and achieve its objectives. Integrating Xledger into your operations will also improve your financial management function and encourage other donors to join your movement.
