INTHEBLACK February 2025 - Magazine - Page 46
F E AT U R E
RISING TO THE CHALLENGE
Diversification is just one way NFPs are
rising to the challenge.
Giunta is seeing growth in digital
transformation projects to increase efficiencies.
“Many organisations are looking at the
corporate services arm of their business and
saying, ‘How can we support service delivery
with artificial intelligence (AI), automation,
machine learning and driving good decisions
with the data we have, so that we’re not just
adding more staff ?’”
GenWest integrated its finance systems
just before the pandemic and Idris explains
it now operates in the cloud.
“We also have an HR and payroll system
that integrates with our finance system so,
with the limited funds we have, we’re making
sure we get better technology so our staff can
spend more time on their value-added work.
“Technology does come with a growing
risk of cyber security,” adds Idris. “So this
is something that we are focusing on.”
Governments are also stepping up
measures to support the sector. In Australia,
the federal government has set a goal
of doubling charitable giving by the end
of the decade. In Singapore, recent
government initiatives include new schemes
to encourage deeper partnerships between
charities and businesses on volunteering,
as well as tax relief and government matching
on charitable donations.
Paterson says that, in broad terms,
her clients in the NFP sector are “very
determined, very resilient, very tenacious”.
“The fact that I keep seeing people starting
new charities, wanting to make a difference,
wanting to find a cure for a terrible disease,
wanting to find a new way to combat mental
illness or to make a difference to people who
have no home — that determination
is growing.
“They are getting more creative and
productive with technology, and they
are diversifying their investment strategies,
looking short-term and long-term, and
thinking about how their legacy can continue
for decades to come.” ■
46 INTHEBLACK February 2025
