Up in the sky, what’s that? Is it a bird? A plane? No, it’s proactive nonprofits migrating to cloud-based solutions in 2022.
Going into 2022, 88% of VP-level professionals said they planned to adopt a cloud-based solution during the year, according to the 2022 Nonprofit Research Study—which surveyed 400 nonprofit professionals, including multiple C-suite level executives.
As nonprofit workforces shifted remote because of the pandemic, adopting cloud-based solutions that would meet employees where they were and allow them to work whenever they had an internet connection became of the utmost importance. Increased adoption rates were partially driven by increased confidence in cloud security—82% of respondents were confident in the cloud’s security—and by nonprofit leadership’s challenges to manage project programs, increase tech stack efficiency, and ensure employees were properly trained and serving their mission.
As we approach the year’s halfway point, more nonprofits are moving to the cloud than ever before. These nonprofits are working to meet their employees’ needs for greater flexibility and work-life balance while positioning their organizations for sustained success.
More Efficient Project Management
According to the 2022 Nonprofit Research Study, nearly 50% of nonprofit professionals surveyed utilize six different tools to do their jobs; 23% of professionals relied on eight different tools to do their jobs.
These inefficient solutions are costing nonprofits time. Seventy-eight percent of professionals said they spent a quarter of their day managing multiple systems. The time spent navigating between disparate systems is roughly about 10 hours a week or 520 hours a year. What could you do with 520 hours a year going toward your mission instead toward administrative tasks?
By streamlining your tech stack, you can get this time back and realize a return on investment. Instead of using several siloed systems, consider a multipurpose system that handles all the functions you’re replacing and adds others you’ll need as your nonprofit grows.
Proactive nonprofits use cloud-based, integrated accounting systems to optimize their tech stacks and help their employees work better and reach optimal efficiency. While these systems have an initial upfront cost, the benefits of reduced IT infrastructure and the ability to handle multiple functions in one system result in increased efficiency and decreased tech spend.
The C-Suite Debrief
Most nonprofit leaders agree that integrating technology is very important, and it is especially crucial for VPs and upper-level management, according to the 2022 Nonprofit Research Study. Most of these leaders are moving to cloud-based systems because they are game-changers for tech integration, efficiency, and security.
While these respondents are confident in the cloud’s security, some concerns remain around fraud prevention. Executives are most concerned about compromised tech leading to fraud or data breaches. But these concerns are unfounded.
Cloud providers use redundant, offsite servers to ensure data protection in a cyberattack. Using offsite servers also limits internal employee access and serves as a fraud deterrent. Fund accounting software also features strong internal controls that ensure you define who can access your organization’s financial data.
The time to move to the cloud is now, and executives agree.
Serving Your Mission
As workforces remain remote or move to more hybrid work arrangements, your employees can serve their mission and do their jobs from anywhere and at any time within the cloud.
According to the 2022 Nonprofit Research Study, most nonprofits are not confident in managing technology systems, so your organization should seek a provider that offers training. For example, MIP Fund Accounting® offers customers Community Brands University training courses and has a wealth of resources available to maximize MIP for your organization.
Your organization can reach new heights by adopting a cloud-based solution today. Optimize your tech stack and make working towards your organization’s mission more straightforward than ever before.
Download the 2022 Nonprofit Research Study to learn about leadership’s outlook across the nonprofit sector, the state of productivity and efficiency, how the pandemic has affected operations, challenges with employee and constituent engagement, where organizations are looking to make strategic investments, and more.