From Intacct's View from the Cloud Blog:
This is the final post in this series on nonprofit best practice trends. We've covered some key areas that you'll want to make sure to consider as you plan and execute in the coming year. This week's topic is automating your processes.
As nonprofits, we focus on expanding programs and services, reducing costs, increasing return on mission, and strengthening donor loyalty – all of which is good stewardship. That's really what automation of processes is all about: doing more and creating greater impact with less.
We started this series talking about outcome measures. It's pretty clear from funder prioritization and requirements that monitoring, measuring and sharing key metrics are critical. But this requires efficiency and automation of processes. If you want to ensure high program efficiency metrics, you have to create the productivity savings, via automation, to reduce the proportional costs of overhead to program investment.
We started this series talking about outcome measures. It's pretty clear from funder prioritization and requirements that monitoring, measuring and sharing key metrics are critical. But this requires efficiency and automation of processes. If you want to ensure high program efficiency metrics, you have to create the productivity savings, via automation, to reduce the proportional costs of overhead to program investment.
Here’s a specific example - let’s say you want to improve internal controls and reduce the inefficiencies of your manual purchasing system. By utilizing automated workflows in a best in class fund accounting solution, you will save time, paper, and frustration. Automated purchasing workflows will give you notification (on any device) that you have a pending electronic purchasing requisition or PO for approval. As you approve vendor payments, you can drill right into the original document to see the invoice. Payments are point and click. Reporting and visibility are instant...read more