iWave Introduces PROscreen
The Latest in Prospect Screening Technology
Wealth screening, as a service to help fundraising departments identify major gift prospects, has been available for a while. In theory it is an excellent idea that still has tremendous value today.
But as fundraising research sophistication has increased, the results of wealth screening have come under much scrutiny.
Today the term “wealth screening” has become synonymous with expensive, an incomplete picture, too many false positives, and time consuming. But, wealth screening is still often recommended as the first step in prospect identification. The reality is, the technology available for wealth screening still largely fails to overcome these impediments.
This belief is why we at iWave Information Systems decided to ban the word Wealth Screening and launch PROscreen.
PROscreen is the only prospect screening tool that puts you in control, so you can have confidence in the results. As opposed to wealth screening, it doesn’t only focus on capacity to give. PROscreen produces a segmented list of top potential donors that have the capacity to give and are inclined to support your cause.
Google was late to search.
Facebook was late to social networking.
Apple was late to the MP3 Player.
iWave is late to screening.
What makes PROscreen unique though, is the way we’ve learned from what is available and then developed a new way. The difference with PROscreen is its foundation of customization and transparency that is the first of its kind. We designed PROscreen to align with the way research and fundraising professionals work. Here are the details:
- PROscore: For every individual screened, you not only receive a baseline capacity rating, you also receive propensity/inclination and affinity ratings, all of which make up an overall PROscore.
- Customization: With PROscreen you can adjust the weighting of the scores’ components, input custom capacity ranges, select which records to include, and select the type of cause to rate your prospect’s connection to.
- Transparency: You can’t trust results unless you know where they came from. PROscreen shows you how the scores were derived and what records they were based on.
- RFM Score: Not only do we screen each individual across PRO’s over 800 million records, we also give you the opportunity to incorporate your own giving data and generate a Recency, Frequency, Monetary (RFM) score for each individual.
- Validation: PROscreen results are not delivered and done. Within PRO you can validate, add/delete records, and refresh scores. Then simply export a spreadsheet to be uploaded into your Donor Management System (DMS).
- Pricing: PROscreen pricing aligns to the way you work. It’s designed to make it affordable to screen your entire donor database or smaller segments more often.
As Donna Moriarty, Manager of Advancement Research at Ryerson University, said, “This is exactly the transparency we’re familiar with from iWave. The scores and ratings may not be validated and ready to use, but they’re a starting point because you tell us where they came from and let us adjust them.”
“The launch of PROscreen is a huge accomplishment for our team at iWave,” said Gerry Lawless, CEO. “We saw the void of a screening tool that removed the frustrations and constraints associated with wealth screening in the market. We’re never going to claim to be the ‘be all and end all’. We built it to make it easier for our clients to spend more time on the most important parts of prospect development: verifying, refining, researching, and spending time with the right prospects. We hope you’ll give it a try.”
About iWave: For 25 years, iWave Information Systems has been delivering software solutions that empower education, healthcare, and nonprofit organizations to raise more major gifts, faster. iWave has assisted over 6000 organizations in the United States, Canada, and overseas, making these tools a proven asset for fundraising departments of any size.
Marketing & Communications Manager
iWave Information Systems