May 13, 2013
Record-keepers at nonprofit organizations have a lot to track of on a daily basis; donations, fixed expenses and salaries are just a few things they have to juggle while also looking into financial forecasting for the next six to 12 months. Keeping this in mind, it may be smart to use a records management program to help reduce risks.
A new study from Canon Business Process Services, a provider of managed services and technology, showed only 15 percent of executives surveyed said their organization has implemented a risk assessment to determine appropriate retention periods for their records. Failing to have a strategy for records retention could make an organization vulnerable to litigation or miss out on untapped opportunities.
"Whatever records management strategy an organization adopts, the goals should be clear," said Elizabeth Halaki, chief marketing officer at Canon Business Process Services. "Our current and previous surveys indicate that companies want their records programs to help mitigate compliance risk, leverage proven technology and better control their information assets."
Records management strategies must improve
Thirty-eight percent of respondents admitted to not conducting a needs assessments that could help solve problems for the organization, but these initiatives are the only thing that could help with records management. The days when nonprofits keep books by hand are coming to an end, and organizations are using digital processes instead.
One place where records can be stored is the email inbox of record-keepers, giving them quick access to the information they need, while also providing the opportunity to log on from anywhere. Email can be a permanent record, and nonprofits decision-makers can create folders for their messages much like they would a filing cabinet, if security measures are in place. By learning how to better keep records, nonprofits won't be scrambling come audit time.
NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.
We were introduced to First Nonprofit through another housing authority. In our analysis and comparison to what we were paying the State, our first year savings was $5,800 plus. We have been with them since the end of 2008 and I am glad we have been. I consider them an arm of our HR department.
Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.
Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.