Like for any business time is a very important metric for every nonprofit. Because they are subject to various standards and regulations their performance has to be very transparent. Investors want to know how exactly their money will be distributed and whether the donation will turn out to be effective in terms of solving that specific issue the nonprofit focuses on.
That’s why every organization on a social mission should take care of its time. The better it manages the time, the more efficiency it can reach and more funds it can raise.
Here’s a quick guide to using online employee time tracking that every nonprofit should check out.
Accurate tracking of costs and revenues
For the nonprofit it’s always about figuring out how is it possible to make the most of a really tight budget and scarcity of volunteers and employees. That’s why every opportunity to raise extra funds should never be missed. Showing investors that nonprofit uses objective solutions to accurately measure performance and improve it accordingly is a great way to convince them to donate.
Online employee time tracking allocates resources better
For nonprofits it’s always people who make it happen. A lot of nonprofits often find it hard to attract more people to help them promote their initiatives. That’s why helping volunteers and employees who’ve already joined work smarter and faster is another challenge that somehow must be solved.
Online employee time tracking will provide the data on everything that has to do with time and productivity – what slows employees down, what are the reasons for productivity gaps, where the time goes and how everything can be fixed. It’s also a good way to make sure that each project is paid attention to as well as see which of the programs were the most effective in terms of time spent on them.
Reaching higher accountability and saving time on reporting
If the most important metrics (like time) are accurately measured, it’s way easier to make transparent reports which can be accessed by anyone who wishes to join the nonprofit or monitor its activities.
Being subject to various regulations and audits nonprofits can use online employee time tracking to make the key processes open to the public eye. With such software it’s also possible to quickly make interim reports and then summarize them into annual ones. This way employees and volunteers won’t spend weeks on analyzing the data and making them into reports but focus on the projects themselves which is going to add much more value.
Optimizing nonprofits for increased productivity and better time management
Nonprofits can enhance their performance and reach their goals faster if they are geared towards balancing their real capabilities with the projects they run. Online employee time tracking could be a handy and cost-effective option to consider.