No one product can give a complete picture of your prospect. We like to layer products to be sure we get second and sometimes third confirmations that we are looking at the right prospect and accurate assets for that prospect. All these vendors use similar data sources and …
ResearchPoint is well suited for Prospect Research, especially if the user has Raiser's Edge as their main database given its integration capabilities with qualified data; however, it is not necessary. I used the Target Analytics product that came before ResearchPoint (The Researcher's Edge) as a stand-alone prospect research database for about a year. For small shops that do not have a prospect researcher or prospect research team, it could even be used by gift officers looking for new prospects or for wealth data on their known prospects. Once systems are in place, the content is fairly intuitive and easy to navigate. The product is really a one-stop-shop, find prospects, wealth screen them, verify the data (the product saves you time by verifying a lot for you already), sync your findings to The Raiser's Edge, and if you'd like, export or print a professional-looking profile to a .pdf for your president or gift officer.
Beyond any pros or cons, the simple fact is that FDO is the industry standard for grant prospecting databases. Others like GrantStation, GrantSearch, and more can offer some other functionalities or different UX/UI, but ultimately I've never found something that other search platforms had that FDO did not. If you are a non-profit organization, you need a subscription to FDO if you have any serious interest in prospecting (and getting) institutional funding.
Confirmed relationships needs to be a field that can be synced to The Raiser's Edge
Philanthropic giving, when synced to the Prospect tab, needs to be able to be sorted by dollar value (like in Excel); this is a change that would need to happen in The Raiser's Edge
With increasing competition from other wealth screening vendors, it would be useful if data sources were updated more frequently (i.e. real estate and giving).
While there is always room for improvement, I have always had good luck with TA support. There are so many ways to get help! Sometimes I can answer my own question by just accessing the vast Knowledgebase directory. I have been able to get quick answers by initiating a live Chat without having to navigate the call center voice mail options, which can be a little overwhelming. Sometimes my question or problem is more involved and I'll submit a case online. Between email conversations or a phone call, the representatives I've worked with have always been super helpful, never condescending, and they often follow up days later to make sure everything is working well
Any question is answered within 24-48 hours, professionally. If one person can't answer right away, they will seek answers within their support group and find the answer for you.
Currently there are several prospect research software companies on the market, such as WealthEngine. In my opinion, Target Analytics with the ability of integration between Raiser's Edge and ResearchPoint creates a greater value for an organization.
I have also used Grant Station and GuideStar for foundation research and have found Foundation Directory Online to be the most user-friendly, provide the most detailed information about foundations, and to have the best search features in order to find the funders that I am looking for as well as to discover new funders
Address Appends - we are saving tons of money on returned mail, NCOA updates, and ensuring donors are receiving timely correspondence.
Data Appends - ensured that we know who we have in our database and how we need to reach each household. Not only through updating records of deceased constituents but knowing the correct email addresses and phones to reach out and share our mission.
Prospect Research - allows us to learn more about potential donors, existing donors, and how to create increased donor-centric interactions and solicitations.
We don't apply for many grants, however; we use look for resources to direct nonprofit when looking for additional funding outside of our funding process.
