What is Grant Management Software?

Introduction

Grant management software is utilized by nonprofits to acquire and manage grants to fund their operations. This platform helps these organizations to meet their fundraising goals while minimizing effort and time. It assists with automating processes like grant writing and submissions. The system also helps you to comply with regulations that are applicable throughout the whole grant management lifecycle, from the initial pre-award to the final post-award activities. It facilitates efficient project management too as it enables you to track the needed activities at various phases of each grant application.

Grant management software typically integrates with fundraising and nonprofit CRM tools as well as online payment platforms. To sum up, this application helps to handle grant opportunity pipelines, offers features that help with grant writing and submission, assists with handling timelines during the grant procedure and produce payment schedules for grants, and finally, presents functionalities for communication with donors.

Features of Grant Management Software

Functional User Interface

An intuitive user interface permits your organization’s users to easily interact with the data they require as well as the tools, understanding, and perspective to utilize the power of data.

Connected Data

For most grantmakers, data is directed to multiple databases and spreadsheets. Data streams should be combined into one platform, facilitating visibility and fresh insights on your grantmaking.

Reporting

Robust reporting tools simplify the generation of complex data analysis with ad hoc queries, live reports, and visualizations. You can produce maps, graphs, visual charts, and “mash-up” information with external feeds.

Automated Workflows

Automated workflows help to streamline the whole grant life cycle, from preliminary request through grant sanctioning and reporting. The grant management solution should assist you to produce fast, linear, and simple workflows that permit you to concentrate on grant-giving and not paper-pushing.

Reviewer Access

Reviewers should get effortless access to the review procedure and be able to view what action needs to be done at a glance.

Grantee Portal

This portal offers a one-stop solution for grantees to handle all engagements with your organization.

Real-Time Updates

As fresh data streams in, your entire team should get real-time notifications and updates on it across all devices including mobile, tablet, and desktop. Your grant managers, program officers, and other operational staff should get timely information that helps them to confidently perform their tasks.

Relationship Management

A strong CRM tool should permit you to connect all your foundation’s data to the organizations and people that matter to you.

Benefits of Grant Management Software

Avoid Penalties and Complications

Mismanagement of grants can adversely impact your organization. If you do not meet the grant’s goals or submit reports on time, you could easily lose the grant amount and also reduce the number of grants you can get in the future. As your nonprofit grows, you’ll waste resources and time if your system is poor in finding, reporting on, and tracking grants. A quality platform is essential as it can boost effectiveness and efficiency.

Enhance Your Grants Process

Robust grant management, with well-defined responsibilities and roles, and clear leadership helps to minimize inefficiency. You’ll save time chasing data and focus more on reporting your organization’s successes, which can help you get more number of grants to fund your nonprofit’s mission.

Meet Reporting Requirements

Funders have a range of reporting requirements such as progress checks and financial updates. With grant management software, you can identify at the start the information you need to monitor and report back on as you execute the grant.

Avoid Frustration

Many organizations struggle to compile the needed reports for their funder. In fact, measuring and tracking grant progress is among the chief frustrations of grant recipients.  Grant management software comes to the rescue as it permits you to monitor grant performance, keep concerned parties updated, and enhances your ability to gather data and generate reports.