Gift Documentation Management focuses on the ‘Messy Middle’ portion of fundraising, from a donor’s commitment to closing the gift. When the necessary processes in the ‘Messy Middle’ linger on for days, weeks, or even months, the donor experience becomes the most at-risk and suffers. Implementing Intelligent Gift Documentation Management benefits nonprofit organizations, the donor experience, and the entire fundraising team. Here are five reasons why.
5 Reasons Nonprofits Need Intelligent Gift Documentation Management
1. Streamlined Processes
An Intelligent Gift Documentation Management Platform automates and streamlines the process of creating, managing, and tracking gift agreements. This efficiency saves time and resources for both staff and donors, allowing fundraisers to focus on relationship development and the organization to focus more on mission-critical activities.
2. Enhanced Compliance
Nonprofits must adhere to legal and ethical standards when accepting gifts. An Intelligent Gift Documentation Management Platform ensures compliance with regulatory requirements by providing templates that include necessary language and by facilitating proper documentation of gifts according to internal policies and external regulations.
3. Improved Donor Relations and Donor Experience
Clear and transparent communication with donors is essential for maintaining positive relationships. Additionally, making giving easy and rewarding for donors is what they’ve come to expect from all transactions – personal, business, or otherwise. An Intelligent Gift Documentation Management solution improves donor communication with personalized and easily accessible information about their commitments. It also empowers donors to confirm commitments in a single click. When it comes time to pay for a gift, your Intelligent Gift Documentation Management Platform automatically reminds the donor – removing your fundraising team from the role of “bill collector.” With Gift Agreement Management in place, everyone in your organization can focus on donor engagements that convey impact, amplifying affinity.
4. Risk Mitigation
Misunderstandings or disputes related to gift terms can pose risks to nonprofit organizations. Intelligent Gift Documentation Management solutions mitigate these risks by providing a centralized repository for all gift agreements, ensuring that terms are documented accurately and consistently. This reduces the likelihood of disputes and helps protect the organization's reputation.
5. Expanding Pledges & Multi-Year Giving
Intelligent Gift Documentation Management solutions take the daunting work out of creating, sending, reviewing, approving, and filing gift agreements. In fact, Digital Gift Agreements can be created so quickly that fundraisers can create and confirm an agreement as they meet with a donor. This ability empowers organizations to think about gift agreements, such as pledges – including multi-year pledges – differently. No longer limited by the process that traditionally makes these agreements only worth it at the major gift level, organizations with a Gift Agreement Management platform are able to scale pledges and multi-year giving strategies to all levels of giving.