Currently the not-for-profit sector in Australia is hearing a lot about regulation. On 27 May 2011, the Assistant Treasurer announced the new chair of the advisory board assisting the Australian Charities and Not-for-profits Commission (ACNC) will be Robert Fitzgerald AM. The ACNC will provide the federal government with advice on NFP regulation.
Read here about the establishment of the ACNC here
Initially regulation will be supporting Treasury which means the administration and movement of money and tax regulation of NFPs will be under review.
The realisation that government has seen the need for regulation should put NFPs on notice that change is inevitable. Those NFP organisations that put the technology in place that can easily and cost effectively adapt to any change will gain long term financial and organisational benefits to effectively deliver services and programs. In turn this will improve the success of funding applications.
What is the financial impact of regulatory change for you? All service and program deliveries have a pre-defined process with a set of activities and with a defined outcome. Regardless of the nature of changes to government regulation, these changes will affect these processes and activities. Having control and visibility over these processes and activities will allow for faster adoption of changes required by regulation. Automating the measures and benchmarks of activities and processes, and making these instantly accessible throughout the organisation will empower managers and employees to review activities and processes with the resulting improvement that is required. Digitising the process of service and program delivery will mean a higher level of control with the flexibility of managing changes imposed by regulation.
Change is good and should be embraced. This is not a time for complacency and to wait for regulation to appear. This is a time to get instant visibility of all of the activities and processes that influence NFP services and programs. Centrally monitoring all processes allows for the change to be implemented in a collaborative manner with little or no disruption to service and program delivery.