4 Vital Corporate Philanthropy Processes That Should Be Outsourced: Part 2 of 2
Nov 4, 2014
Workplace giving is steadily on the rise because globally-aware employees are keen to do their part to address local and global problems in an information-rich, interconnected world, and because corporations understand that corporate giving programs substantially boost employee engagement, workplace pride and productivity.
To reap the full benefits of corporate giving, the program must be well-designed, employee-centric, easily configurable, easy to use, easy to administer, scalable, secure and fully compliant with relevant rules and regulations… but getting all this right is no easy task and details are often easy to miss until it’s too late.
Therefore, companies should leverage corporate philanthropy specialists and their deep expertise in designing, developing, implementing and administering employee giving programs across a multitude of environments, to grow the program to its full potential and energize the company’s workforce and corporate image.
For starters, here’s a list of 4 critical functions that can be outsourced to a corporate philanthropy specialist for transformational program results:
- Strategic program design, development, administration and management.
- Payments processing, banking and fiduciary duties.
- Vetting receiving organizations to ensure legitimacy and compliance with rules and regulations set by the USA Patriot Act, the Office of Foreign Assets Control (OFAC), Anti-Money Laundering (AML), the Foreign Corrupt Practices Act (FCPA), etc.
- Leveraging services, configurable solutions and technology to maintain and integrate the program’s digital presence across the Internet, intranet and mobile devices.
With the right corporate philanthropy specialist, corporations can plan their programs for growth and engagement, retain full control over funds’ approval and disbursement, have a complete audit trail down to the last penny, and not have to deal with routine paperwork, bookkeeping and administration.
Moreover, the right outsourcing partner can proactively protect a corporation and its reputation from potentially damaging legal and financial ramifications by ensuring that the workplace giving program complies with relevant rules and regulations, with no “hidden costs” from data breaches, donations to illegal non-profits, etc.
So, just as companies outsource non-core functions, corporations must bring-in specialists to develop and implement secure, compliant and effective workplace giving programs.
To learn more, download a free copy of CyberGrants’ whitepaper on Best Practices for Selecting and Managing Corporate Philanthropy Specialists