Find out if your business can use monitoring and evaluation (M&E) systems.
But what is a monitoring and evaluation (M&E) system really, and who does it benefit the most? What about M&E software? Is that something your company can benefit from? Let’s take a look.
M&E systems help organizations assess and manage performances so the right improvements can be made. You can think of M&E as being fairly synonymous with performance management. While it can be used in any number of organizations, monitoring and evaluation systems are often used to assist international development.
M&E plays a major role in this international development by helping organizations—like nonprofits and NGOs—ensure that their programs are effective. It can be used to weigh donations and funding against various factors to assess their success, so funding can be adjusted as necessary and the strategies can be improved upon. The results of continuous monitoring and evaluation can help prove to donors and funders that their money is being used and allocated correctly.
Due to the nature of monitoring and evaluation, there is a great deal of data that must be involved. Therefore, storing your management data—and organizing it all—can be a major road block. But it doesn’t have to be. M&E software allows for monitoring and evaluation online, either through a desktop application or on the cloud. It can be used to:
Using M&E software helps your organization become more transparent, because the end product can help prove that donor money is, in fact, making a difference, and the internal controls in place are working as they were intended. Because most companies involved with international development have a great deal of programs in play at one time, software can help them grab all of their disparate information, store it in one place, and successfully track it.
There are a lot of benefits of implementing an M&E system, but there are three that stand out above the rest:
There are a lot of great M&E software companies out there that are specific to international development, but any company that specializes in performance management software is likely going to be able to mirror M&E functionality. (So make sure you do your due diligence before purchasing a solution!) No matter what solution you end up with, choosing a solid monitoring and evaluation system for your company will help you assess and correct your performances, and get on a more profitable path.
RJ drives new business for ClearPoint, guiding prospective clients through the sales process.