What can you do today? Time to effect change!
Understandably you and your finance team will be extremely busy at present due to the pandemonium around the Covid-19 outbreak. With team members self-isolating it is more apparent than ever that doing more with less is vital.
Once the dust settles and you have a minute to breathe, then you will no doubt have a minute to evaluate the madness. This is where this article will assist you, this is merely a framework to help you evaluate and evolve and manage more effectively.
Here are some areas that Not For Profit organisations can address right now as part of their Crisis Management approach.
Stabilise your team
Regular contact with your team will alleviate any fears or concerns and raise morale especially when working remotely. Set clear goals and have your team striving to achieve them. Utilise different forms of technology to engage, at Solutions we are loving Teams but have Whatsapp in order to keep our spirits up.
Dialogue with donors
Start organising conversations with your larger donors as this pandemic is going to increase demand for the services you offer. Larger donors have greater financial stability and thus will be better equipped to provide further support.
Financial Management
Evaluate your financial management situation. Are you in a position to preserve cash as this can then be utilised if or when there is a reduction in donations? Build a contingency plan as we do not have any real indication as to the end of this pandemic.
Marketing & PR optimisation to drive donor engagement
Drive awareness as to your mission and how you intend to provide aid or support to those being hit hardest at present. Use social media, across all streams. Linkedin, Facebook, Instagram and Twitter. Look at streamlining this social media content management, look at Hootsuite.
Evaluate current programmes
Hoping you have an easy means to evaluate and compare the programmes which you run, if not look at options for later in the year (such as Sage Intacct). Establish changes or trends, look at financial investment versus the programme benefits.
Additional Grant availability
Are you looking to provide assistance related to the pandemic? If so, there may be additional funding that may apply.
Additional revenue streams from fundraiser
Utilise the social media streams to drive additional revenues. Use Microsoft Teams to drive awareness, create events and virtual gatherings.
Now it is a time to evolve, adapt and innovate.
After we have weathered the storm, I think (hope) organisations will start to adapt for the long term. I am hoping organisations see the benefit in working remotely, collaboration over different platforms and a drive for greater operational rigour throughout the organisation.
I would urge any NFP to evaluate Sage Intacct, with over 14,000 clients globally and over a third are NFP’s!
How can Solutions for Accounting & CRM help?
As the UK’s leading business management software solutions provider, we’re a Sage Intacct specialist. We can help you successfully migrate to this more advanced platform and tailor it to your business needs.
We offer a wide range of Sage Intacct software options and expert advice to ensure you find the right solution for your business model.
Our expert team consists of qualified accountants, product-accredited staff and talented developers, which means we can develop innovative add-ons and connectors to help you get more from your Sage Intacct solution, use it to its full capabilities and maximise your return on investment.
So, if you’re considering migrating to Sage Intacct and want to be sure you’re making the right decision, get in touch today to see how we can help.
