How NetSuite will make your not-for-profit a data-driven success
Data is a key strategic asset for today’s Not for Profits. When correctly harnessed, you can build a data-driven organisation fully equipped with all the information needed to target fundraising efforts and reach the right people with your services.
The ultimate objective is to gain access to accurate, real-time financial reports as often as any decision-makers need them - offering instant organisational insight, rather than reporting results long after the fact.
Yet poor data visibility is preventing many modern Not for Profit organisations from making the type of insight-driven decisions that will propel their mission forward. Even though today’s cloud software solutions can be used to gather and make sense of organisational data, many Not for Profit leaders remain hesitant to implement new technology, preferring instead to stick with familiar processes and systems.
That’s unfortunate, because there are plenty of advantage to becoming a data-driven Not for Profit. Let’s explore some of them in a little more detail.
What it means to have up-to-date, accurate and complete data
Key organisational information - spanning volunteer, donor and clients, marketing, accounting, projects and eCommerce - is typically spread across multiple departments and systems within an organisation. It may even include paper records. The effort required to gather and organise this data can be hugely frustrating. Not to mention, time-intensive.
By aligning once disparate data sources, Not for Profits can realise a single source of truth for data-driven decision making, and use that 360 degree view to better manage constituents, volunteers, programs, donations and operations overall.
With fewer systems and more integration between them, resources that were once spent on activities like creating spreadsheets and assembling reports can be reinvested towards programs that better serve the mission. This allows Not for Profits to make a single coordinated effort across the organisation – enabling them to target and engage each constituent, build lifelong relationships and grow the support needed for long-term success.
Being more transparent and accessible
Not for Profits are living in a new era, where donors seek proof of an organisation’s effectiveness before they are willing to contribute.
Before the existence of cloud business suites like NetSuite, measuring this impact was virtually impossible. Traditional accounting systems lacked the financial transparency and reporting capabilities needed to do so. But with a unified solution that eliminates traditional siloes and captures accurate financial information, Not for Profits can be transparent, link donations to real project outcomes and satisfy donors who expect the majority of their investment to go to the cause.
This transparency can extend to staff and volunteers too. By making your data accessible to the team via role-relevant metrics dashboards, you can create a culture where everyone - not just the CFO and CEO - is empowered to make decisions based on real time data.
But don’t get lost in the data
No one can focus on everything at once. Instead employees should be supported to focus on actionable metrics that will help improve the performance of their department or the organisation as a whole. By accessing dashboards that are oriented to predefined roles and day-to-day tasks, employees can efficiently consume relevant information without being overwhelmed, keeping teams informed yet focused.
One complete solution for Not for Profits
Technology solutions like NetSuite are designed for the modern Not for Profit. NetSuite replaces the fractured thinking between fundraising, program and finance, instead capturing the information needed to allow end users to make decisions based on fact, not gut-instinct.
Here’s how NetSuite modules work together to transform not just your decision-making, but your entire Not for Profit organisation.
With NetSuite’s unified business management solution, Not for Profit organisations can manage their entire end-to-end operations with a single, flexible and powerful business application—integrating Not for Profit accounting, fundraising, Constituent Relationship Management (CRM), Enterprise Resource Planning (ERP), inventory management, ecommerce and more.
Constituent Relationship Management
Break down silos and empower your organisation with a 360-view of your donors, volunteers, supporters, clients - all in one place.
Manage your entire revenue lifecycle, from pledge to payment and grow the support you need for long-term success.
Finance and accounting
Gain efficiencies with a powerful Not for Profit financial management and accounting system purpose-built to meet the complex needs of Not for Profit organizations.
Ensure full accountability and stewardship of funds and gain complete control and visibility over total spend.
Ready to build a data-driven Not for Profit?
To make the transition smoother for Not for Profits, Annexa is committed to helping leadership access the technology and strategic vision they need to be confident, data-driven organisations ready to plot a strong course forward.Read more