Nonprofits and international data transformation in developing nations
WHITE PAPER |
Donors are increasing their requirements and expectations for reporting, while pushing grant recipients to use greater local resources in fulfilling the grant. Recipients wishing to continue to receive funding from these donors need to have consistent and adaptable international data transformation (IDT) procedures and technology in place ahead of pressure from donors.
IDT is the combination of systems and processes an organization uses to consolidate financial information from international locations that do not use the same financial database as the primary account system.
In the case of nonprofits that operate in developing nations, this often involves various accounting and grant reporting requirements in the field locations (locations where the primary award activities take place), followed by manual or semiautomated batch processing to consolidate this information at the headquarters level (or location). The batch processing is time-consuming, often provides challenges related to losing data and transaction detail and compromising data integrity and causes substantial delays in the reporting cycle.