Non-Profit Treasury Teams Face a Unique Set of Challenges
Compared to the treasury and finance operations at most corporates, the workflows and technologies used by nonprofits (NGOs) and international non-governmental organizations (INGO’s) often have a distinct composition. Due to their cash and labor-intensive operations that are often located in underdeveloped countries, NGO and INGO treasury departments frequently end up facing more complexity than their corporate peers. Today, there are several core areas in which these complexities manifest themselves:
- Smaller Treasury Budget Results in Limited Staffing & Technology Spend
- Humanitarian Work Requires Payments & Banking in Hard-to-Connect Regions
- Operations Occur in Areas with Complex Fraud & Compliance Concerns
- Unique Cash Flow Model & Technology Structure Creates Added Uncertainty
Given the above challenges, NGO treasury teams must be very strategic with how their operations are structured and with how they approach new technology projects and staffing decisions. This is why when it comes to functions like bank connectivity, payments, and cash management, award-winning NGOs like IFAW are selecting TIS as their main cloud provider.
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