Introduction: The Case for CSR
According to Investopedia, corporate social responsibility (CSR) is “a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public.” Companies who engage in CSR operate “in ways that enhance society and the environment instead of contributing negatively to them.”
In addition to positively impacting society, CSR initiatives have beneficial effects on employee retention and on a business’s bottom line. For example, a recent study showed turnover reduced by 57% for employees actively involved in giving and volunteering. Further, companies who invest in social purpose see a 6% higher market value and generate 20% more revenue.
As businesses develop and execute their CSR strategies, many find partnerships with CSR solution providers, such as Benevity, enable them to maximize their impact more efficiently. According to Nick McCleery, Senior Product Manager at Benevity, “The reason that we were founded, really, is just to make it as easy as possible for corporations to allow their employees to engage with the causes around the world that inspire them.”
Reduce Administrative Burden with Benevity + Omatic
While Benevity helps businesses maximize their impact, it has recently partnered with Omatic to also help nonprofits make the most of their gift data. Leaders from both organizations detailed the benefits of using Benevity plus Omatic in a recent webinar. If you missed the live session, you can watch it on demand, or keep reading for a few highlights.
At its core, Benevity’s technology does two things:
- It empowers corporate giving, volunteering, and grantmaking with some of the largest and most recognizable brands around the world.
- It connects nonprofits with opportunities to receive donations and volunteers.
Benevity aggregates donations and disperses them monthly as a lump sum, rather than as multiple payments throughout the month. This unique model enables nonprofits to receive donations both quickly and efficiently. Benevity also provides detailed reporting about the funds, including donor name, donation amount, associated corporate matching, and fees. Benevity has processed over $8 billion in donations to support 326,000+ nonprofits around the world with this pioneering disbursement model.
Unfortunately, nonprofits do not always have the time or staff to import all disbursement report data into their CRM. This is particularly true of organizations who receive a large volume of gifts. During the webinar, Mike Sanders, Senior Vice President of Sales at Omatic, described the challenge:
One of the clients I was speaking to, said ‘If we get a disbursement report from Benevity that includes 1,000 $10 gifts on it, totaling $10,000, we don’t have time to add 1,000 gifts into our system. To save time, we simply add the $10,000 gift to the organization record and move on. We’ve got too many other things to do.’
However, this approach can have unintended negative consequences. For example, if a donor leaves the company where he/she was making contributions, the organization loses that donor. Nonprofits felt this challenge acutely as employees left their jobs at unprecedented levels during the great resignation.
Unlock Opportunities in Your Benevity Gift Data
By using Omatic’s integration solution, nonprofits can easily bring the detailed employee gift information they need into their systems of record. In addition to the short-term benefit of reducing the administrative burden of crediting individual donors, there are long-term benefits for the organization. Capturing this detailed information enhances an organization’s ability to acknowledge donations and maintain relationships if donors leave their jobs. It also unlocks opportunities for an organization’s planned giving program.
Mike, who has a background in Target Analytics at Blackbaud, explained that the biggest predictor of someone’s likelihood to make a planned gift was consistency of giving over time. With 70% of donations through Benevity’s platform being recurring, Benevity gift data represents incredible opportunity for the nonprofit and its planned giving program – but only when captured in an organization’s system of record.
Are you interested in unlocking the opportunities in your Benevity gift data? Check out the on-demand webinar, or sign-up for a demo below!
In addition to streamlining processing for Benevity disbursement reports, Omatic can simplify connecting all your applications with your CRM. We’d love to show you our flexible data integration solution and discuss how it can help you can make the most of your data!
Beth Firebaugh is a Content Marketing Manager at Omatic Software, helping the company tell its story and create meaningful content for nonprofit organizations. Prior to joining Omatic, Beth spent seven years at Benefitfocus, where she gained an appreciation for the power of data – and importance of data quality. Having also worked at the American Cancer Society and Camp Hanover, a small nonprofit in Virginia, she was drawn to Omatic’s mission of empowering social good organizations. Beth is a graduate of Virginia Tech, where she earned a B.A. in Communication Studies.