Non-profit technology is evolving as organizations choose innovation. See why Sage Intacct is the best financial management solution for your non-profit.
2022 could be called the year of the non-profit organization. Sage Intacct’s third annual Non-Profit Technology Trends survey showed tremendous resiliency and creativity in the non-profit sector. This survey is unique in its illustration of critical non-profit metrics from before, during, and two years after the pandemic.
Most survey participants were midsized non-profit organizations in the United States with less than $24 million in annual revenues. They represented a variety of non-profit causes, including human services, education, community improvement, healthcare, and faith.
The survey showed promising numbers from over 900 non-profit finance leaders and examples of innovation that allowed organizations to thrive.
Here are five takeaways.
Some Pandemic Innovations Are Here to Stay
The pandemic forced many non-profit organizations to change their operations. Two years later, some innovations are working well and will continue.
One thing is remote work. Almost 25% of survey respondents cited its benefits, including reduced operational costs, increased productivity, and the ability to recruit employees from anywhere in the United States.
Technology Is a Game-Changer
Non-profit organizations that pivoted in terms of technology accomplished more and made a greater impact on their communities.
One survey respondent said its organization ran several massively successful live-streamed virtual events; another used technology to reach rural communities and increase member engagement.
Social Media Makes a Difference
Almost three-quarters of the survey respondents have a social media strategy. 65% saw an increase in engagement due to social media, and 26% saw an increase in mobile/online giving due to social media.
The survey also revealed non-profit organizations with a social media strategy were likely to see an increase in revenue, donor base, and average gift size.
Donors Need to Understand Your Story
The internet allows prospective donors to easily research organizations to find those that reflect their values and priorities. Donors also want evidence of solid financial stewardship and strong mission impact.
If your non-profit organization’s story isn’t clear and compelling, those donation dollars may go elsewhere.
Outcome Metrics Are Critical
Non-profit organizations are embracing outcome metrics to satisfy an increasing demand for transparency and accountability. Connecting financials and mission with outcome metrics gives funders and constituents a clear picture of how a non-profit organization is performing.
Non-profit organizations are leaning more heavily on technology than ever. Sage Intacct is the modern cloud financial management solution your non-profit needs to:
- Solve reporting issues like financial, operational, compliance, and outcomes
- Gain greater visibility with dashboards and industry benchmarks
- Streamline processes and eliminate paper through automation
- Enjoy powerful non-profit-specific functionality like fund accounting and grants management
- Get real-time visibility into outcome metrics by integrating financial and statistical data
- Simplify multi-entity and multi-currency management
To read more survey insights, download your complimentary 2022 Non-Profit Technology Trends Report below.