How will your nonprofit successfully operate in a post-pandemic world? The most agile and innovative organizations endured the disruption of COVID-19 by developing or embracing digital strategies that produced greater efficiencies and data-backed insights. Nonprofit leaders eager to follow suit and digitize quickly and effectively will need to consider an accelerated journey to cloud-based technology. For organizations considering a migration, here are six key ways the cloud can transform a nonprofit:
- Rapid response and innovation: Ever have a big idea but lack the infrastructure or capacity to bring it to life? Cloud-based solutions remove this roadblock to innovation with access to native services and third-party solutions, which offer advanced functionality to help a nonprofit respond rapidly to market trends. Even traditional enterprises have found that automated cloud platforms allow them to launch new capabilities 20 to 40 percent faster than on-premises solutions.
- Cost-effectiveness: Cloud solutions eliminate costly, inefficient and outdated information technology environments, which slow down the pace and drive up the cost of change. Instead of establishing and maintaining in-house infrastructure, including physical data centers and servers, cloud computing provides access to efficient technology services for every functional area and produces cost savings in hardware investment, ongoing maintenance and equipment.
- Efficient scalability: Backed by cloud solutions, nonprofits can automatically add capacity to meet surges in demand and scale out new services in days. Compare this to the months it can take to procure additional on-premises servers.
- Mobile and virtual capabilities: The cloud made possible last year’s seismic shift to remote work. Initially a response to the pandemic, a mobile and virtual workforce will likely have staying power as a tool for improved employee productivity and job satisfaction. Many organizations will continue to embrace a “work from home” model beyond the pandemic. Cloud applications and services allow organizations to support remote workforces, regardless of their geographic location.
- Access to big data: Cloud-based technology is at the forefront of the movement to derive valuable insights from big data. Advancements in technology lowers the cost and increases scalability of data processing, allowing even the smallest of organizations to unlock the value across multiple data sources (think accounting and donor management solutions). Access to data and accompanying analytical tools are must-haves for nonprofits to glean real-time insights into programs, donors, funding, stakeholder, performance and sustainability.
- Silo-breaking integrations: The open application programming interfaces (APIs) featured in most cloud-based solutions allows nonprofits to integrate best-in-class solutions for smart accounts payable, donor management, payroll and fundraising. Nonprofits can use an integrated cloud-based platform to connect all parts of their organizations and break down the silos that hamper synergistic growth and opportunity.
Cloud-based solutions let nonprofits bring new capabilities to market more quickly, innovate more easily and scale more efficiently – all while reducing technology and security risks. Ready to find out how cloud-based accounting and financial management solutions can help your organization drive next-level change and impact? Schedule a discovery session with an RKL consultant using the form below.