But for many smaller, cash-strapped organizations, balancing innovation with daily operations can be challenging. Additionally, the current breadth of technologies available can be overwhelming for nonprofits to sort through and prioritize technological investments that assist with fundraising tasks such as campaign management, data analysis and secure payment processing.
To help nonprofits remain competitive, included below are emerging technology trends that can be leveraged to improve mission impact in 2020 and throughout the next decade.
Electronic Payments and Card-Not-Present (CNP) Transactions
As online giving steadily increases, nonprofit organizations must be ready to embrace digital payments to meet donors where they are spending most of their time. To do this, they should consider investing in technology that specializes in seamless and secure donation processing to help them carry out a sophisticated online fundraising program. In particular, a technology system that can securely process card-not-present (CNP) transactions, a card payment transaction where the card is not physically present. This will enable nonprofits to accept an even greater number of online donations as well as keep track of online fundraising efforts and campaigns.
Data & Analytics
As digital transformation takes over the industry, nonprofits must be able to understand the mass amounts of data flowing through the organization. By aggregating and analyzing data, nonprofits can better understand how their campaigns are performing, who is giving, how much they’re giving and why. By gaining a complete picture of fundraising efforts, nonprofits can then develop even more targeted and personalized campaigns to maximize donor engagement.
With the rise in online giving, nonprofits must ensure that the personal information received from donors remains secure. This includes remaining compliant with new consumer data protection measures such as Europe’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). To keep donor data safe, nonprofits should consider utilizing a secure fundraising platform that integrates data protection to safeguard the rising amount of sensitive donor data being processed digitally. Organizations that prioritize donor data security are viewed as more credible and trustworthy, leading to a more satisfied donor base of loyal givers.
An All-in-One Fundraising System
Constrained resources and tight budgets often prohibit nonprofit organizations from investing in new technology. Yet, legacy, siloed systems are ineffective and costly. To gain the most ROI, nonprofits are leveraging all-in-one digital fundraising platforms that provide donation and campaign management, robust data and analytics and secure payment processing. One system for fundraising efforts ensures a seamless user experience for both the nonprofit as well as donors.
With more than 1.5 million nonprofit organizations in the U.S., the challenge to stand out and attract donors can be a struggle for many, if not most, organizations. Investing in a streamlined and comprehensive fundraising solution will help nonprofits empower staff members, stakeholders, donors and supporters in moving toward achieving what matters most: the mission. As nonprofits navigate these changing times, they should keep the above trends in mind when mapping their tech strategy for 2020 and the years to come.
Terry LoPresti is the chief technology officer at FrontStream, the leading provider of a complete suite of products that empower registered nonprofit organizations and socially responsible corporations to raise more funds securely and easily for causes that effect positive change. She has more than 30 years of information technology experience, including 20 years in the digital payment space.