NetSuite Consultant News: Non-profit organisations and business outcomes study
NetSuite Consultant news: Oracle NetSuite has conducted an extensive study into not-for-profit organisations. The study examined the cash to outcomes results. The aim was to show how raised funds could be used to maximize NPO results.
According to the study, a large majority of NPO’s have difficulty in measuring their outcomes. Up to 71% described difficulties when managing their results and data. Only 29% of NPO’s examined, were effectively measuring their outcomes data, figures showed.
Staff turnover, donor loyalty and financial stability are the main areas of importance when it comes to not-for-profit organisations. However, because they aren’t generally run with regular business procedures, the measurements required to capture data outcomes are often, not effectively monitored.
CEO of NetHope, Lauren Woodman, explains that non-profit organisations need to be challenged to show their effectiveness. She says that by showing their impact on certain causes, they can attract more donors to their cause. Transparency and visible results are the key to success in non-profit organisations. “While the majority of nonprofits noted they struggle measuring impact, this study shows the focus organisations are putting on investing in the resources that will allow them to change their approach to measurement,” Woodman comments.
The biggest challenge for non-profit organisations is the ability to show the effectiveness of their campaigns and donor investment. They are, Woodman says, often unable to provide real-time data reports. Results-driven data is the key to gaining new donors.
Lack of manpower
NPO’s lacked the manpower required to carry out the data measurements. Oracle NetSuite’s study found. In fact, 65% of non-profits opted to present annual reports, while only 18 % were able to show real-time data.
The results also showed conclusively that non-profits want to achieve growth and success. However, they must approach their goals as a business approaches profit building. By measuring data and finding out where time and resources are being over-spent, organisations can streamline their operations and maximize impact for their cause.
Furthermore, executive donors revealed they were far more likely to support larger non-profit organizations. However, most donors also agreed that more effective outcomes and results would increase their likelihood of donating on a regular basis – regardless of the size of the organization.
Additionally, providing real time data and streamlining operations, could be the key to increasing donor gifts and retaining executive support.
NetSuite Consultants and integrations
NetSuite is the world’s most popular SaaS ERP platform. Certified NetSuite consultants manage integrations for businesses in every industry. NetSuite has proven to be a highly effective tool in business and charity organisations too. Streamlining operations and procedures is key. Tasks that require creativity and innovations can have more manpower.
In fact, a growing number of charities have adopted NetSuite and report highly successful increases in growth an effective result.
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