Aug 21, 2019
When I first started working as solutions provider to the nonprofit sector all those years ago, there weren’t that many of us. I would walk around many of the industry conference halls and count only a small number of technology suppliers. It was perceived to be a challenging market; presumed to be small, with long buying cycles, and very few options for an exit.
That was just under two decades ago and, thankfully, the technology landscape today proves quite different. Now, this market is extremely active. It’s much easier and cheaper to build software technology, and investors see the value in a previously overlooked arena, making it one of the easiest times ever to raise capital.
This is great news for growing non-profit technology sector companies who want to grow their business and fantastic for nonprofits who can now gain access to the greatest solutions that will help them achieve their mission. I love it when everyone wins.
However, the fundamentals of the market have not changed for technology providers. It is still a relatively small vertical, with only a small percentage of the millions of nonprofits raising over $100k. Buying cycles are still long and cost is still a gating factor for many nonprofits when choosing technology solutions.
So given these challenges, how can technology companies in this sector continue to provide ever increasing value to their nonprofit customers and grow their business without increasing costs?
A recent Forbes article examining the role of integrated payments for companies that operate in small vertical markets piqued my interest. It demonstrates how smart payment integrations are important and can unlock value to both technology providers and their customers alike.
The processing of donations is fundamental to the activities of any non-profit and one for which they are probably already overpaying. Integrated payments provide a core solution that supports both sides of this business partnership.
iATS has lead the market in integrated payments in the nonprofit since those early days. We remain one of the only payment providers devoted to the non-profit sector and the only one doing so predominantly through partnerships with technology providers. With more than 13,000 non-profit customers and 100 partners, our goal is to support partners so they can focus on delivering the solutions to help nonprofits make the world a better place.
We understand the challenges of building a business in this sector with customers who require top-notch products and services at the lowest price.
Through these kinds of integrations, nonprofits will gain a better customer experience, reduce reconciliation errors, save time with manual processes, and enjoy financial savings that can be put toward helping their cause instead of administration.
What technology providers gain is a stronger foundation for their company to grow. By focusing on payments as part of the overall solution and not a commodity that needs to be plugged in, they will benefit from higher revenues, lower costs, and reduced customer attrition.
We believe in the true value of the work done by non-profits across the globe. These integrations allow both providers and organizations to bolster that work through robust, seamless systems that allow non-profits to help as many people as possible. I’m sure you agree that this is why we all got into this sector in the first place.
Written by Andrew Mosawi, iATS Payments President. Andrew is responsible for leading all aspects of the company’s operations and growth. He has a proven track record serving nonprofits through technology and payments and over 15 years’ experience growing and leading businesses around the world.
A purpose driven leader that is committed to giving back, personally and professionally. Andrew is also dedicated to serving nonprofits as a donor, volunteer and advisor. He sits on several nonprofit boards as well as being a trustee of a family foundation.