This document summarizes a presentation about how technology can reduce the burden of processing gifts for non-profits. It discusses the history of check imaging and remote deposit capture (RDC), how RDC works, challenges non-profits face in processing donations, and how an upcoming integration between Paperless Transactions and Virtuous CRM aims to help non-profits streamline gift processing and data entry.

1. How Technology Can Reduce the
Burden of Gift Processing
PRESENTED BY

2. Before we get started
• This presentation is being recorded
• Following the webinar, the slides and recording will be emailed to
you
• All attendees have been muted
• If you have a question, please enter it in the Q&A box in your Zoom
webinar window

3. Virtuous is the nonprofit CRM helping charities
Create personal relationships, reduce costs and maximize
impact.
Scott Richards
Director of Training & Customer Success
Virtuous Software

4. Paperless processes credit, debit, ACH transactions and offers remote
deposit capture check imaging service for charities around the country.
Micah Hobart
Chief Operating Officer
Paperless Transactions

5. Today’s Agenda
• A Brief History of Check Imaging
• Remote Deposit Capture
• What is it?
• How does it work?
• Bank Software Solutions
• Pros & Cons
• Charitable Organizations
• Unique Needs

6. A Brief History of Check Imaging
• Paper Checks Existed Forever
• Checks can be problematic
• Banks never compelled to improve or
change

7. A Brief History of Check Imaging
• Any checks drawn on that local bank were deposited but all other
checks, bundled and sent to one of the 12 Federal Reserve Districts
around the United States
• Couriers went around the country to all of the banks to gather checks
and take to a central location

8. Slow & Inefficient
• Crediting the place of business
was costly and time consuming

10. Federal Reserve stepped in to cover $46
Trillion

11. Momentum for a Solution

12. Remote Deposit Capture
Image of Check = Original Financial Instrument

13. A New Standard: X.937

14. Bank Software Solutions
• Strong incentives in place to implement RDC with their
clients
• Software is simplistic

15. The Problem for Nonprofits
• Costly training and administration
• Another disparate & duplicative processes
• Creates more work rather than driving efficiency

16. Checks Represent a Large Percentage of
Revenue

17. Challenges for Nonprofits
• Open in direct mail
• Associate with remittance or reply devices
• Track information sent in direct mail
• Perform deposit function while maintaining security, auditing,
and data entry into CRM and accounting packages

18. Challenges for Nonprofits
• Nonprofit treasury management area often separate and distinct from
constituent management
• Duplicate data entry and business administrative processes
• Extra personnel required along with background checks and higher
level of trust
• Entire process ripe for errors, fraud, lost revenue, upset constituents

19. Paperless + Virtuous CRM
Integration Coming Soon

20. Questions?

21. $500 off Paperless Implementation
visit
VirtuousCRM.com/demo