Donations can be the lifeblood of an agency. Naturally, most efforts are focused on either getting more coming in or making certain that the organization is spending what it is gathering appropriately. From the donor’s side of the equation, of course, folks are more likely to give again and again if they see that they can trust you with their money. With this in mind, many agencies have turned to technology like Blackbaud’s eTapestry and Raiser’s Edge to help manage their donations. The result is often a more malleable and efficient system.
Get More out of Each Dollar
The irony of any donation is that there is a cost of accepting it, as funds go in and out of an organization’s accounting system. Time and resources are spent documenting where money is and how it is being spent. This cuts into the value of revenue being generated. That’s why technology is playing such an important role in donor management. Software can take a lot of the work out of obtaining and tracking gifts, meaning more of each dollar is left over for its intended purpose.
Make Better Decisions
Another great reason to leverage software for donation tracking is the ability to make better and faster decisions. Most donor management systems significantly cut down the amount of data entry as well as the number of errors. This means less time something is sitting on someone’s desk and less need for reconciliation. The result is accurate real-time numbers. The best donor management tools even have subsystems which allow departments to keep an eye on their specific portion of the overall budget, allowing for greater agility throughout the year.
Clearly, managing donors is similar to managing volunteers. The more efficient you are in overseeing them, the more resources are left to put toward executing your organization’s mission.