To do their work more effectively, Nonprofits require a customized ERP solution which not only helps them with adequate features, but also should be developed in line with the regulatory demands that deliver on the needs of both sponsors & contributors.
Nonprofits – Business Challenges
- Balancing organization’s goals with regulatory compliance and requirements
- Operate on tight budgets & with limited resources
- Complex grant management and fund accounting
- Mission critical operations
- Control on Expenditures
- Control on grant funds to ensure grant budget integrity
Despite the above general challenges, social service and government agencies require meticulous reporting practices, Professional/trade associations are tasked with managing business events, as well as maintaining education and certification records, while the civic, fraternal, and religious organizations have complex membership relationship issues and vital fundraising projects.
Dynamics 365 – for Nonprofit Organizations
- Avail financial & contributor insights to make enhanced decisions in-line with integrated accounting
- To get an overall picture of the organization, Dynamics 365 can help in integrating financial, functional and operational data
- Save effort and time by reducing cost through automating various business processes like constituent/donor management and fund contributors
- Member-based organizations use automated communication tools for effective communication and building healthy relationship
- Better consent with regulatory and external audit requirements