Home > Insights > Your Guide to Unlocking the Potential of Workday for Nonprofits
Nonprofit organizations face unique challenges in managing their operations, from tight budgets and regulatory compliance to donor management and program effectiveness. Workday’s Nonprofit solutions offer cloud-based features tailored to meet these specific needs, empowering nonprofits to streamline administrative processes, enhance financial oversight, and improve mission-driven outcomes.
By facilitating seamless workflows between financial management, human capital management, and donor relationship initiatives, Workday for Nonprofits helps organizations optimize resource allocation, ensure transparency, and drive greater impact in their communities.
This article explores how Workday’s comprehensive nonprofit suite can transform the way organizations operate, enabling them to focus more on mission effectiveness and less on administrative burdens.
Understanding How Workday Fits in the Nonprofit Sector
Workday offers an effective pathway to the cloud, allowing nonprofit organizations to innovate and adapt their existing systems and operations to align with unique industry demands and requirements. This way, any nonprofit organization can continue to nurture its community and create inclusive cultures while still maintaining employee accountability and facilitating efficient digital transformation.
Workday for Nonprofits enables users to access real-time data to measure mission effectiveness, increase user adoption, understand how funds are being used, and improve accuracy across planning and reporting processes.
With Workday solutions tailored to the nonprofit sector, organizations can handle the following tasks:
- Fund and Grant Management:
- Ensure compliance and financial transparency by managing restricted and unrestricted funds and tracking grant performance.
- Donor and Fundraising Management:
- Track donor interactions, manage fundraising campaigns, and optimize donation strategies by leveraging real-time analytics and integrated CRM capabilities.
- Advanced Reporting and Compliance:
- Access customizable dashboards and build custom reports to track KPIs and ensure regulatory compliance.
- Scalability and Integration:
- Scale with organizational growth and integrate seamlessly with other software solutions and third-party applications for improved accuracy and consistency.
Key Workday Solutions for Nonprofit Organizations
Financial Sustainability and Stewardship
Financial dimensionality
Increase reporting granularity and simplify charts of accounts to improve financial accuracy and control, measure the impact of transactions on expenditures, and effectively monitor risky transactions.
Scalable financial operations
Leverage real-time access to critical financial data to accelerate transaction reporting, align financial initiatives with organizational goals, and eliminate time-consuming, manual administrative tasks.
Centralized grants management
Reduce the total cost of compliance by linking grant-related data to other key areas of the organization, automating grants management processes, and preventing over or under-spend.
Consolidation and close
Simplify the chart of accounts to improve overall close cycle timelines and reduce time to consolidate and close for each account.
Reporting and Analytics
Compliance and accountability
Implement proactive audit and compliance policies to improve compliance control, accelerate time to value, and align core operations across business units.
External data insights
Democratize access to organizational data to facilitate deeper insights, identify key areas of wasteful spend, and measure service request and response trends over time.
Advanced people analytics
Automate tedious manual processes to identify critical risks and opportunities, improve equity and inclusion efforts, and drive more strategic workforce planning.
Application extensions
Extend applications for faster time to value, reduced system complexity, and a more consistent user experience across teams and business units.
Continuous Business Planning
Scenario planning
Reduce manual planning initiatives to build and optimize rolling forecasts, improve planning collaboration, and enhance overall budget transparency.
Sustainability and growth
Achieve a holistic view of organizational health by determining the most sustainable long-term investments, adapting to rapid organizational change, and investing in critical growth resources.
Workforce planning
Improve the time to execute organizational change by gaining improved insights into workforce data and aligning workforce gap replacement with financial goals.
Stakeholder engagement
Enhance trust with key stakeholders by improving collaboration, enabling streamlined reporting, and maximizing visibility into key organizational data.
Budget, Spend, and Expense Management
Budget control, reporting, and optimization
Simplify reporting and compliance processes to gain real-time insight into budget restrictions and consumption, automate core controls, and reduce overall budget cycle timelines.
Predictable spend
Improve user adoption and satisfaction by increasing data visibility, streamlining the ordering process, and ensuring responsible financial stewardship.
Expense management
Reduce the risk of manual processes by implementing robust spend controls, controlling maverick spend, and enhancing reimbursem*nt efficiency.
Employee Development and Engagement
Recruiting and onboarding
Streamline recruitment and onboarding tasks to increase adoption and engagement, accelerate the hiring process, and improve attrition planning.
Flexible work models
Prepare for future workforce requirements by empowering greater agility, enabling mobile access, and supporting nontraditional work models.
Development, training, and engagement
Improve the allocation of critical resources by ensuring the right employees are in the right roles, delivering personalized learning experiences, and facilitating stronger employee development.
Employee experience
Leverage self-service tools to measure employee performance and satisfaction, facilitating greater workforce connection, and empowering self-sufficiency across business units.
How Can We Help?
Whether you need help outlining plans for a new Workday implementation, handling complex integrations between other systems like Workday Adaptive Planning, or maintaining effective communication routes between teams, Surety Systems has you covered.
Our senior-level Workday consultants have the knowledge, skills, and experience to understand your critical project needs and ensure your internal teams are prepared for continued success over time.
Contact Us
For more information about our Workday consulting services or to get started on a project with our team of expert consultants, contact us today.
