Recently it was reported "63% of charities believe their core functions are under-resourced" by Charity Finance Magazine, based on research conducted as part of Charity Finance Week.
This fits with my experience from speaking to a number of charities about how they run their operations and finance.
When introducing Akoni, we’ve talked about how they manage their cash and this conversation has initially started with how much more money they can make using the platform. However, a very close second is the fact that using Akoni’s digital treasury would actually save time. In fact, a number of charities have said that this is as big a benefit as the extra cash funds. Finance Directors using our platform are able to monitor in one place all their cash as well as make changes across multiple accounts from a single hub account, making their time more productive.
The extra cash returns is an important point as well. We’re finding that charities and business can increase interest income by 10x using the platform – translating into valuable core funding, which charities cite as a reason for under-investment.
It is innovation like this which changes the way charities work challenging assumptions that things (like managing cash deposits) take too long or aren’t worth doing. With Akoni we’re helping charities to innovate, save time, and access cash returns they’re missing out on.
Please feel free to get in touch with me at Stephen.firstname.lastname@example.org if you’d like to find out how Akoni can help your nonprofit to reduce the time and hassle it takes to maximise your cash.