It may be challenging and time-consuming to try to get funds via grants. Traditionally, it takes hundreds of hours to collect data, look for funding, write reports, and present pitches. The process of identifying and getting grants for your company or school has become more straightforward, thanks to technological improvements. Grant management software may significantly reduce your workload and improve the efficiency of the whole process. Whether you’re seeking assistance managing government grants or private awards, grant management software offers several advantages. These advantages could significantly contribute to accomplishing your organization’s objectives and help you grow and achieve them. The following are a few key benefits that grant management software may provide.
Finding funding sources, writing grant applications, tracking expenses, and handling reporting requirements are all challenging steps in the grant process. Because of this, both large and small NGOs use grant management software.
Grant management software eliminates administrative drudge labor associated with applying for grants, giving nonprofit staff members more time to concentrate on their purpose and the clients they serve.
Benefits:
1. Look into available local funds.
Grant management software automatically searches Known funding sources, which also notifies you when new grant possibilities arise. Gather all of your data in one location. Access your data, including past events, deadlines, reporting specifications, contacts, objectives, and finances. No more rummaging through 4″ binders with paperwork. Instead, all of your searchable data will be in one location.
3. Control every donation from beginning to end.
Keep track of every procedure aspect from beginning to end, including status, mode of submission, sum, and all important dates. Understand your position in each application.
Utilize integrated calendars and automated reminders to stay on track. Gather all important dates in one location to better organize your schedule. You won’t ever forget a deadline, thanks to automated reminders.
Prepare for board meetings by producing reports. You’ll always be prepared for presentations, board meetings, and grant interviews with thorough reports. Create personalized messages to provide to personnel and improve operations.
4. Maintain orderly financial records to attach to any grant application.
With the help of budgeting functions, accounting may be integrated, and funders can see that you are responsible with your money.
Obtain grant writing advice to make writing future grants simple, and gather information from previous awards.
5. Enhance the Management of Sub-Recipients
Grant management system can guarantee effective sub-recipient monitoring, reporting, and auditing if you’re the primary beneficiary. In our study, lead beneficiaries made up 73% of the organizations that potentially benefit from a grant management software.
With the following features, you may promote standardization and enhance sub-recipient communications:
- Automate the data collecting and report generation for sub-recipients.
- Give your approval and get control over the budget and performance of sub-recipients.
- To monitor overall sub-recipient activities, create reports.
- Keep track of all project participants’ projected results, outputs, milestones, activities, schedules, and deliverables.
Improve your understanding of your sub-recipients so that material is readily available and prepared for report generation when it is time to report.
6. Managing Grant Writing and Submissions Easily
There are many moving parts to handling the entire grant lifecycle. No detail may be ignored, from pre-award preparation through post-award reporting.
20% of those who said they could use grant management software said grant writing and submission were their most significant source of aggravation. The grant writing and filing process is made simpler by grant management software since it helps you:
Find the best suitable funds for your organization and apply for them.
- Centralize performance plans and predicted budgets for simple inclusion in bids.
- Obtain historical information to highlight prior achievements in grant submissions.
- Create automatic reminders for each person involved in the grant application process.
An all-encompassing grants administration tool
Given the nature of grants, the money must be used transparently. The amount of staff time required to monitor how and where money is spent is decreased thanks to the Microsoft Dynamics grants management software. In many cases, it also eliminates manual input, lowering the total risk of mistakes. The consolidated data management will also provide the appropriate staff members access to the data they need across programs. The staff timesheets and human resources software may sync with each other so that the program’s cost as a whole is smoothly increased by staff time.
Tools for Tracking Grants and Reporting
Grant reporting is another automated step by the grants management system. Your nonprofit organization may generate thorough reports on grants and programs with the press of a button that will please funders, grant-making organizations, the general public, and others. Your nonprofit’s accountability and effect are essential to your organization’s stakeholders, and you won’t let them down with grants management software.
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