Top 5 Financial Mobile Apps that NGOs Should Use

Non-profit organisations often face difficulties in their day-to-day operations. Be it a lack of staff or a tight budget due to lack of funding, non-profits have to navigate through several issues to keep the organisation running. However, thanks to modern technology, there are numerous apps available that aid and ease the operations of NGOs.

Though some are free while others are paid, they work just as effectively as human staff and sometimes even help in reducing operational costs. Some apps even offer special prices to NGOs. The following apps are among the highest rating apps for NGOs.

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A Career in the Non-Profit Sector for Finance People

Finance is one of the most popular and sought-after career paths. With the attractive salaries and faster career growth opportunities it offers, the finance field does not lack aspiring professionals. Similarly, there is no lack of finance job openings in the private or public sector.

However, the newer generations have shown an inclination towards job fulfilment rather than financial benefits when choosing their careers. They seek more than just high salaries. Their job is an extension of their passion rather than just a way to earn money. Generations Y and Z notably hold a strong social conscience, having grown with the internet, a tool that allowed them access to understand and societal issues on a global scale. Unlike the older generations’ traditional belief to give back to society after reaching a certain level of wealth and a strong position of financial security, the younger generations believe in contributing towards society’s wellbeing through their work. We often see young graduates venturing into the non-profit sector rather than the private or public sector. Their drive to do good while earning a living pushes them towards a career in the non-profit sector.

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The One Thing All Successful NGOs Have in Common: A Robust Financial Framework

 “The ‘financial framework’ is the term for the policies, procedures, regulations and standing orders we use to make sure we’re taking proper care of public money.” – Powys County Council

Similar to a business, it is imperative to establish a robust financial framework for an NGO. A financial framework provides an organised system that guides and supports the financial operations and structure of the organisation.  It includes internal financial control mechanisms to prevent financial mismanagement such as misuse or theft of funds and assets, non-compliance of an organisation or government policies and regulations, and inaccurate financial reporting. NGOs also face several problems, including inadequate resources, lack of capacity building, lack of performance measurement instruments, and inefficient management. Setting up a proper financial framework will help resolve some, if not all, of them.

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Tricks on How NGOs Can Survive Without Funding

Anne Frank once wrote, “No one has ever become poor by giving”.  But to give, you need to have. Every organisation needs funding to operate. Like any organisation, NGOs need money to cover their costs- capital costs, operation costs, overhead costs, staff costs, etc. NGOs, in particular, depend primarily on grants and donations for survival.

What happens when the organisation runs out of money? Donations are made at random, and grants are often subjected to conditions. With a limited budget and uncertain cash inflow, NGOs often have to curtail their spending at the cost of quantity and quality of their work. Under these circumstances, NGOs find it difficult to plan for the long term and ensure the longevity of their humanitarian programmes. Preemptively, NGOs should develop a stable funding source and steadily achieve autonomy from donor funds and grants.

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