In the evolving landscape of nonprofit finance, both external solutions and internal strategies play pivotal roles in streamlining grant management.
Invest in training and upskilling finance/non-finance staff. This might include periodic reviews of the different types of grant restrictions or how to use automation in Excel, Zapier and other applications.Streamline grant management workflows. Reduce double billing errors by enabling a dimension in the general ledger to mark expenses as reported.
With decades under their belt, these legacy companies offer solutions that partially address some of the challenges mentioned earlier. However, their reliance on older tech stacks is an important consideration when it comes to efficacy and adaptability. One notable example is the cloud computing provider, Blackbaud.Primarily serving the for-profit sector, these companies are venturing into nonprofits.
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