Nonprofit organizations are driven to make a meaningful impact on the world, but they spend up to a quarter of their week stuck on tedious payroll tasks that are ripe for human error.
But Human Capital Management (HCM) companies that partner with IDI have an ace in the hole that solves this pain and fuels more sales. Looking for a unique selling point to win more nonprofit sales? IDI can help you eliminate nonprofits’ greatest time entry and payroll frustrations with simple solutions.
Here’s a quick overview of the unique challenges non-profits are facing—and how IDI’s Time Bank or Quick Time Entry applications can be the hook to close your next sale.
Nonprofit Organizations: Grant Allocation and Funding Reports
With increased emphasis on compliance and reduced budgets, nonprofit organizations are looking to outsource back office functions to allow them to better focus on their mission. Some of the common challenges facing nonprofits are:
Grant and fund accounting
Nonprofits need to ensure that employees’ hours and earnings are being accurately captured and applied to the correct funding sources. This includes both hourly and salaried employees.
Time Bank automates the allocation to grants and funds that they’re likely doing in spreadsheets or manually.
Nonprofits have to provide their funding sources with reliable and timely justification on how their grants are being used. Many nonprofits are also required to provide Time and Effort Reports to certain government agencies, detailing where actual employee time and earnings were spent on a grant each pay period.
Time Bank provides payroll with the accurate details needed for reports to government and funding sources.
Many non-profits still rely on spreadsheets or manual time cards for employees to enter time to grant and non-grant tasks. In the past, when detailed time entry to grants wasn’t a requirement for funding sources, this approach was “good enough.” Now, with time and effort reporting for federal grants and private funding sources, spreadsheet or paper time cards are a significant risk to non-profits. Not being able to provide timely and accurate time data to funding sources jeopardizes a non-profit’s ability to solicit new funds and retain the grants they have.
IDI’s Quick Time Entry application is an online time capture solution where non-profits can accurately enter time to grants and non-grant activities. It’s designed for organizations that don’t need a full time and attendance solution but are concerned about the accuracy and risk associated with spreadsheets and paper time cards.
Soliciting new grants and funds
Attracting funding is critical for a nonprofit to remain solvent. Organizations that demonstrate they have systematic controls and automated systems for tracking time, grants, and reporting are more appealing candidates for funding sources and government agencies.
Time Bank and Quick Time Entry makes this possible—and easy!
See How Time Bank and Quick Time Entry Work
Get more details about how Time Bank and Quick Time Entry make payroll easy for nonprofit organizations. Check out these quick videos.