Nonprofits that make the right investments in technology can further their mission in an increasingly digitalized world, and the industry knows this: 60% of nonprofits accelerated investments in technology in 2021.
But understanding which technologies are worth the investment is challenging for nonprofits navigating a shifting landscape with limited resources. Organizations looking to maximize their return on investment (ROI) might consider prioritizing Enterprise Resource Planning (ERP) software.
ERP software integrates and streamlines disparate data and processes and centralizes information to help cut costs and increase efficiency. It helps reduce risk and manage fundraising, donor retention, governance, and reporting challenges.
That doesn’t mean ERP software is one-size-fits-all. Before a nonprofit embarks on the ERP selection process, stakeholders must understand best practices for selecting a fit-for-purpose ERP system.
An integral part of the selection process is understanding the needs. To do that, nonprofits should assess the current state of their existing processes and systems and begin to identify potential solutions from the market of potential vendors.
Evaluating vendor capabilities and functionalities, matching them with identified needs and negotiating price are the final steps in the process to which nonprofits should devote time and resources. Contact us today to see how Williams Overman Pierce can help you identify the best fit!
Written by Kasra Mojtahedi and Adam Barber. This article originally appeared in BDO USA, LLP’s “Nonprofit Standard” Blog (March 28, 2022). Copyright © 2022 BDO USA, LLP. All rights reserved. www.bdo.com