Critical Considerations for Nonprofits in a Post-pandemic World

Technology

The roles digitization and information technology play in nonprofits were steadily increasing before the pandemic. Many organizations have often discussed the benefits of replacing outdated systems with newer technology to become modern and stay competitive. Rapid change in response to pandemic lockdowns has only reinforced and in some cases accelerated the need to continue digital transformation in organizations.

Even before the pandemic, nonprofits saw strong growth in online giving through various platforms and social media channels. These capabilities provided a more convenient channel for increasing the donation rate and a source for reaching different donors and geographies.

Technology has provided another mechanism for presenting the programmatic results, successes, and overall mission of the nonprofit organization. For nonprofits that rely primarily on traditional income from in-person events, conferences, or fundraising events, the integration of virtual offers and future fundraisers should be seen as an additional revenue stream. .

Covid-19 has caused a significant shift in the way nonprofits conduct their operations with a workforce that has had to adapt to remote working and operate in a digitalized world. One of the latest issues facing organizations is the Great Resignation in which millions of employees quit their jobs after reassessing their work-life balance since the pandemic. As nonprofits begin to bring their workforce back to the office, the need for a new operating model will force organizations to evaluate technology tools to support their staff. Technology investments in remote working can provide a means of retaining current talent by improving efficiency by upgrading or re-qualifying employees in their day-to-day tasks; these investments also function as a mechanism to attract the best candidates from other geographic regions.

Every nonprofit organization’s information technology transformation will be different, depending on its digital sophistication, capacity and ability to invest.

Technology will continue to change the way nonprofits operate, and those that are more proactive in adopting new tools may be better positioned to be less reactionary in the face of future challenges.

Business risk management

The pandemic has highlighted the need for enterprise risk management planning. When crises arise, having an appropriate ERM action plan in place can help you stabilize and continue your operations into the future. An ERM plan is a process in which a nonprofit organization will outline its operations, goals, and financial health before performing systematic planning for worst-case scenarios to avoid unpleasant surprises.

An ERM plan should be a proactive, multi-dimensional process of identifying, evaluating, documenting, and preparing for potential negative outcomes. The goal of such an assessment should be to reduce reputational and business impacts and help the organization achieve its goals and mission. Additionally, a well-designed ERM plan should include assessments of the organization’s people, operations, technology, asset protection, and internal and external communications.

Reinventing your nonprofit in a post-pandemic era should demonstrate the vital role your nonprofit plays in today’s world and how your services benefit society. The ability to navigate this ever-changing landscape will be imperative to ensuring the long-term viability and financial health of your organization so that you can focus on what matters: your mission.

Citrin Cooperman ”is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).

Citrin Cooperman ”is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).

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