Nonprofits responding to the COVID-19 break are increasing spending on technology, according to a recent survey by BDO USA. The survey found 64 percent of 200 leaders polled in the firm’s Nonprofit Standards benchmarking service say they will invest in new products this year.
According to the accounting firm, 61 percent of respondents plan to use investments in technology to improve operation efficiency while 29 percent who say those purchases will assist in the delivery of programs and surveys.
Lack of adequate technology has also hindered businesses’ ability to respond to the pandemic, an opinion voiced by 46 percent. In addition, those providing funding to NFPs are requesting more information on outcomes and impacts, according to 78 percent.
Fifty-six percent said they do not have enough human resources to gather information; 51 percent lack a consistent framework to measure impact; and 49 percent simply do not have the technology to gather information.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Monday, 29 June 2020
