Not for Profit
Not-For-Profit companies are often forced to walk a fine line to ensure steady stream of funding. They must account for every dollar they spend, as their cash is spread out over numerous, specified uses and grants. The ability to properly allocate this money and provide visibility into its expenditure is the most important task faced by any Not-For-Profit business.
1. Ensuring proper cash management
2. Maintaining Donor loyalty and retention
3. Accountability pressures
4. Analyzing expenses for specific funds
Fund Management Control: You must have the ability to track each dollar of every fund you have, to prove to donors that you are spending the money on causes they want you to spend it on. Fund Management software will allow you to divide your capital into multiple fund, each with their own authorization protocols which can prevent misallocation of funds
Improve Donor Relationships: Advanced Customer Resource Management applications help your business respond quicker to donorâ€™s demands. In addition, the ability to create customized, real-time reports and financial documents for donors and clients ensures that every step your business takes can be seen by stakeholders, increasing their confidence.
Streamline your Services: With your capital spread out over multiple funds and grants, it is often difficult to analyze costs and implement cost cutting measures as each fund will have its own host of issues. The ability to drill down into specific statistics and to view the expenses for each unique fund separately assists you in removing wastage of cash in specific operations to improve your companyâ€™s worth in the eyes of clients.