Like most international development organizations, your key strategic imperative is to successfully raise funds and win contracts to support your vision and mission. But as you know, fundraising and winning grants has become increasingly competitive as savvy donors and contracting agencies now demand data, insights, and detailed reporting of labor costs and time (even down to a project level) to support their funding decisions.
Providing this accurate and detailed data in the complex world of international development is far easier said than done. In addition, you are faced with the complexities of managing a dispersed workforce scattered over local field offices on a global basis. This brings with it complex and diverse time, leave and expense policies by country and the material risk of not precisely complying with host country requirements and laws. Equally important is the need to carefully manage overhead costs so that you can deliver better financial results and enable your organization to deploy more resources to fulfill its mission.
While there are multiple components that ultimately need to come together to enable better operational and financial management for international development organizations, perhaps one of the most critical is the successful deployment of a purpose built, best-in-class Time Sheet & Expense Reporting solution. Why? Because it serves as a foundation to connect successful fundraising, local compliance, and efficiency gains. But with so many options available, how do you know what is best for your organization? As experts in this space with a portfolio of leading international development clients, we have developed a Time and Expense Management Toolkit comprised of two parts. The first part now available is a complimentary 30-minute Time & Expense Due Diligence Assessment with an international development expert who will map your current processes and solutions against 2023 industry best-practices. With it, you will be armed with key insights and the critical requirements to successfully manage costs, grow your operations, and mitigate risk.
The second part, which will be released at the end of January 2023, is an RFP template that provides you with a requirements document, tailored to your organization, to be used to assess any Time and Expense Management vendor’s capabilities in precisely meeting your needs.
Part 1: International Development Time & Expense Due Diligence: Why Is It Important?
If you’re like most international development organizations with remote locations, managing staff time and expenses is cumbersome and complex. Many organizations utilize manual processes or minor automation which can create numerous inefficiencies and frustration. Or they choose automation, but pick the wrong solution that fails to anticipate future needs only to go back to the drawing board one to two years later.
There are also associated risks with inefficient processes or inadequate solutions, including complexities in enforcing corporate controls across numerous field offices, the inability to track and report on time and expense at a project level to precisely know where donor or contract funds are deployed and staff frustration with processes that are unwieldy and unnecessarily time consuming.
With so many options available and much at stake, the best method for selecting the right solution for your organization is going through a carefully constructed and expert-guided due diligence assessment that applies best practices used by leading international development organizations.
While to date there has been no industry standard to evaluate international development Time & Expense management solutions, DATABASICS has worked with top industry thought-leaders to construct a due diligence assessment that fully leverages best practices and is new for 2023. It outlines a comprehensive set of features and functions, explains why each might be important specifically to an international development organization, and provides you with a rating system to assign levels of importance. With it, you will be armed with all you need to select the right partner and mitigate risk. During this complimentary 30-minute assessment, an industry expert will benchmark your current state, gaps, and key priority requirements necessary to meet your organizational goals. The due diligence assessment is the first part we are releasing in 2023 within the International Development Time and Expense Toolkit.
Part 2: International Development RFP Template
The second part to be released by the end of January 2023 is an RFP template that provides you with a requirements document, tailored to your organization, to be used to assess any vendor’s capabilities in precisely meeting your needs. This significantly eliminates the time, complexity, and risk inherent in constructing your own documentation and evaluation process.
How to Get Started
To schedule your complimentary 30-minute assessment with an industry expert, click here:
To receive the RFP template (upon release), register below.
DATABASICS is driven to meet the most demanding time and expense management challenges for organizations throughout the world with a combination of deep expertise, next-gen technology and a focus on the unique needs of each customer. Powered by decades of experience, DATABASICS is in the business of solving time and expense problems with solutions that are the right choice for today and easily adapt to the uncertainties of tomorrow. Time and expense are better together, which is why DATABASICS addresses these two critical business processes with absolute ease in one solution.
