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For businesses and the not-for-profit (NFP) sector alike, the message is clear – change is the new norm – and that change is fast, furious and the stakes are high. As businesses embark on digital transformation journeys to ensure their businesses survive, revitalise and thrive in the digital economy, the pressure has also come to bear heavily on the NFP Sector to partner, fund, implement and deliver services in faster, more innovative, more efficient, and yet sustainable ways. On the technology front, forward-thinking NFPs are now looking at the potential effect emerging technologies like AI and IoT, as well as automation, may have on the sector, how to guard against cyber threats and protect their (sometimes very vulnerable) users’ data, and ways to embrace the power of data and analytics to deliver insights that will serve their stakeholders better and expand their impact.
The problem for NFP decision makers though is that embarking on a digital transformation takes time, expertise and investment – resources that NFPs are not necessarily positioned to be able to sustainably fund without a profit model. And therein lies the challenge – how can the NFP justify generating enough of profit or gains on the balance sheet to invest in sustainable and innovative business technology outcomes, whilst still remaining true to its purpose?
*Only available to Connecting Up Transform 2019 Delegates until June 30, 2019.
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At recent Not-for-Profit forums the overriding message has been that for NFPs too, change is the new norm. While the NFP sector is traditionally seen as being highly risk averse, they too are now facing the urgent need to adapt to disrupted service markets, pressure from advances in automation and cyber threats, and the desire to embrace the power of data and analytics to get a better picture of how they can serve their stakeholders and expand their impact.
If your “IT Dept.” or partner is not asking YOU the right questions about your business, find one that will!
Are you confident that your business is on the path to becoming digital-ready? Do you believe you are agile enough to beat out your competition and carve out a top spot in the future economy? I suspect not many of us are… If fact – there are numbers that back up just how uncertain we feel.
Small to Medium sized Enterprise (SME) looking to innovate and transform their business and deliver the whole experience via a scalable investment is in need of a new model. A business technology strategy that unifies all the arms of your business is an essential platform, but one that is typically lacking in many businesses. The traditional “you break it, we fix it” model of IT service delivery is simply not enough and needs to be replaced with a digital transformation partner that walks the innovation journey with you.
New mandatory data breach reporting requirements came into effect on February 22, 2018 for Australian businesses under the Notifiable Data Breach Scheme. Entities must now notify of an eligible data breach, and will need to have a response and communication plan in place for dealing with actual and suspected breaches. Penalties for failure to comply with the new requirements will be up to $1.8 million.
There can be no doubt that the ultimate dream of the tech enthusiast – the realisation of AI or artificial intelligence – is today not just the hottest topic in town, but an ever-advancing reality. As AI becomes increasingly embedded in our everyday lives today, it is also charting a whole new course for our future as humans.