6 Strategies for NFPs to break the mould and do more with less

Passion, compassion, and a strong commitment to social good drive the not-for-profit (NFP) sector. However, the reality of managing an NFP organisation often involves navigating financial constraints, resource limitations, and the challenge of doing more with less. Compliance requirements hang over everything you do, and every dollar spent is scrutinised by donors and recipients. NFPs need clever strategies to adapt and evolve their impact and do more with less.

1. Adopt a Data-Driven Approach

By harnessing data and analytics, organisations can make more informed, effective decisions while minimising waste and maximising impact.

• Track and measure both financial and non-financial Key Performance Indicators (KPI),
• Analyse donor behaviour to see what engagement strategies are working and which are not,
• Identify market trends and get ahead of the curve and your competition,
• Make informed decisions instead of relying only on gut-feel.

2. Streamlining Operations with Technology

The advent of modern technology has opened up a world of possibilities for NFPs looking to do more with less. By automating administrative tasks, improving communication, and leveraging cloud-based tools, NFPs can reduce operational costs while maintaining high levels of service and impact. Working in the cloud also provides new ways to collaborate across teams in real-time. Different departments and locations can be working with the same consolidated data, and seeing the same insights at the same time, without having to chase static spreadsheets or export data from disconnected silos.

3. Leveraging Social Media and Digital Marketing

Traditional marketing methods can be expensive and resource-intensive, but NFPs are increasingly turning to digital marketing and social media platforms to engage with their audience, raise awareness, and fundraise more effectively. Crowdfunding platforms like GoFundMe provide an affordable way for NFPs to run fundraising campaigns. These platforms allow NFPs to raise money without the need for large-scale events or costly marketing materials. They also make it easier for supporters to share the campaign within their own networks, extending the reach and impact of fundraising efforts. They may not be the reliable source of revenue to depend upon but can be useful in a pinch or for the right type of campaign.

Email marketing also allows direct digital connection to your network of donors, stakeholders, and supporters. Especially with a Customer Relationship Management (CRM) tool, you can deliver personalised messages and build stronger connections with your audience.

4. Collaboration and Strategic Partnerships

NFPs are increasingly seeking opportunities to collaborate and form strategic partnerships with other organisations. By pooling resources and expertise, NFPs can amplify their impact while reducing costs.

Sharing the burden of services such as administration, IT infrastructure, or fundraising efforts can significantly reduce operational costs and improve efficiency. Corporate social responsibility (CSR) strategies also motivate sponsorships, donations, or in-kind support between NFPs and other corporate organisations. These partnerships can provide NFPs with valuable resources—such as funding, expertise, or products—while offering companies an opportunity to engage with their local community and enhance their brand image. Local communities are the backbone of grassroots NFPs. Community networks and alliances can be a source of volunteers, resources, and knowledge.

5. Focusing on Sustainable Revenue Streams

Creating long-term, sustainable funding sources and reducing reliance on single-year grants or donations reduces administrative costs and can create a solid financial foundation. This allows for some degree of flexibility when it comes to securing new donations and what you can focus your resources towards, knowing that the business can continue to function on your recurring revenue.

Diversifying revenue streams, such as membership services or exploring social enterprises (business ventures that also support the mission), or focusing on resource efficiency – not only your administrative time and manual processes, but also reducing waste or using efficient technology, can bring sustainability to your operation.

6. Innovative Program Delivery

NFPs are increasingly adopting innovative methods for program delivery, using technology to expand their reach and improve service delivery without increasing costs. The cloud naturally facilitates innovation and collaboration, bringing many benefits to modern organisations. Shifting to digital or virtual programs allows NFPs to expand their reach without the need for physical infrastructure. Online workshops, webinars, and virtual consultations make it easier to serve larger, geographically dispersed populations with fewer resources. Mobile applications have the advantage of scalability when it comes to community outreach, development, and education.

MYOB Acumatica for not-for-profit organisations

MYOB Acumatica (formerly MYOB Advanced) is a clever cloud-based system with powerful functionality to support the not-for-profit sector. It is built for the cloud, to make your organisation more efficient, and to help you do more with less. MYOB Acumatica can automate manual processes and eliminate data duplication between systems – a significant administrative time-saver.

It produces detailed, accurate financial reports, based on information gathered from across your operation. This means you can make faster business decisions and better respond to market changes. MYOB Acumatica also has compliance and regulatory support for NFPs as well as a customisable General Ledger, subaccounts structure, and intercompany framework to manage your complexity.

Benefits of MYOB Acumatica for NFPs

There are many benefits for NFPs using MYOB Acumatica:

• Spend more time helping your target groups and less time managing spreadsheets and manual processes,
• It is built for the cloud so your team can work remotely and from any device,
• Identify inefficient processes to make the most out of revenue, government grants and donations with project accounting,
• Achieve full visibility over funding acquittals, resources, service delivery, multi-entity consolidation, and budget management,
• A streamlined procurement process to make accurate and competitive project bids,
• Deliver timely, accurate and highly segmented financial reports to donors, stakeholders, board members, and management,
• Track compliance requirements across your organisation within a single system,
• Manage and pay your entire team, including contractors and volunteers, from a single integrated platform with MYOB Advanced Payroll and Workforce Management.

Next steps

The Kilimanjaro Consulting team are experts in configuring MYOB Acumatica to meet the needs of not-for-profit and charitable organisations. MYOB Acumatica is a suitable and proven business management platform in the NFP industry. It provides a strong return on investment while also improving efficiency and visibility of your most important data. Contact us to organise a free, no-obligation assessment of your organisation and whether MYOB Acumatica is right for you.

To start a conversation about how MYOB Acumatica can improve efficiency in your NFP organisation, email sales@kilimanjaro-consulting.com, or call 1300 857 464 (AU) or 0800 436 774 (NZ).