Insights from the Sage 2024 Nonprofit Technology Trends Survey
At the heart of every nonprofit organization lies a commitment to service and a passion for change. However, your organization may face many challenges behind the scenes — from navigating economic uncertainties to managing complex compliance requirements.
Navigating Change with Confidence
Technology plays an increasingly important role in nonprofit organizations’ operations. The latest findings from the 2024 Nonprofit Technology Trends Survey published by Sage provide a deep dive into how nonprofits harness technology to survive and thrive in these turbulent times. Here we highlight key insights.
Embracing Technology in the Face of Challenges
This year’s survey, engaging over 300 nonprofit leaders, reveals a sector increasingly reliant on technological innovation to enhance operational efficiency and impact. Moreover, most (90%) of the leaders surveyed represent small- to mid-size nonprofit organizations with annual revenues up to $24M. Certainly, nonprofits across the U.S. are at the forefront of adopting technology solutions that streamline operations and bolster their missions.
Key Survey Insights
The survey reveals many interesting findings, among the most significant:
1. Economic Uncertainty and Funding Challenges
Despite most nonprofits reporting stable or growing revenues, economic uncertainty looms large, influencing funding stability and availability. In response, organizations are exploring new funding sources as traditional government and foundational support wanes. Furthermore, this shift underscores the need for robust financial management systems that adapt to rapid changes and help secure and manage diverse funding streams.
Sage 2024 Nonprofit Technology Trends Survey
2. The Power of Automation
Manual processes continue to throttle the potential of many nonprofits, making tasks like reporting, budgeting, and financial reconciliation cumbersome and time-intensive. The survey illustrates a significant shift towards automation, with nonprofits increasingly leveraging technology to streamline these essential functions, reducing errors and freeing up valuable time to focus on their core mission.
3. Technological Adoption for Growth and Efficiency
Tools like financial management software, donor management systems, and advanced budgeting platforms are critical. Notably, the use of budgeting and planning software has seen a marked increase, helping organizations to manage finances more dynamically and responsively.
4. Outcome Metrics: A New Narrative Tool
With a high demand for services and strong competition for limited funds, outcome metrics have become a crucial narrative tool for nonprofits. Importantly, these metrics not only enhance accountability and transparency, they also powerfully communicate the impact of an organization to donors and stakeholders.
Sage 2024 Nonprofit Technology Trends Survey
Sage Intacct and MicroAccounting — Your Partners in Navigating Nonprofit Challenges
Sage Intacct is a comprehensive solution tailored to these diverse and demanding needs. With its cloud-based architecture, Sage Intacct offers real-time financial visibility, automates complex financial processes, and simplifies compliance reporting. Whether improving financial transparency, enhancing donor relations with reliable data, streamlining the budgeting process, or integrating with other critical applications, Sage Intacct is equipped to address the unique challenges nonprofits face.
MicroAccounting works with nonprofit organizations across the U.S. to select, implement, and optimize technology tools for maximum benefit. For example, read how we helped one such client, Arkansas Association of Counties, leverage technology to meet their challenges.
MicroAccounting took the time to understand how we work and what we need from the software, and then configured it to not just duplicate what we had been doing, but to really optimize the workflows.
As your nonprofit navigates the complexities of today’s economic and operational landscapes, the right technology catalyzes sustainable growth and impact. In summary, the 2024 Nonprofit Technology Trends Survey underscores the critical role of advanced solutions like Sage Intacct in empowering nonprofits to confidently manage challenges and continue your invaluable work without compromise.
