Organizations that offer grants receive so many requests that sifting through the paperwork becomes cumbersome.
Grant management software can alleviate this problem by allowing grant officers to search through the paperwork and make decisions quickly. Another benefit is the automation of paperwork submission and processing.
The applications that provide online grant management services are also beneficial. For example, a grant application can be submitted online, and an automated response can be sent back to the applicant.
Grant applicants can also track their application’s progress as it moves through various stages of review. If an application doesn’t meet all the requirements, it can be quickly revised or scrapped and resubmitted with little hassle.
The Role of Grant Managers
Grant managers are responsible for managing grants from start to finish. Often have other duties such as:
- Overseeing budgeting
- Hiring contractors and staff
- Writing reports on grant expenditures and performance metrics
- Securing funding for specific projects or programs that are important to the organization’s goals and objectives
- Coordinating with other departments within the organization such as HR or IT during grant development processes and managing human resources during project execution
According to Blackbaud, “Grant management software allows grantmaking organizations to administer more funds faster and with less effort, strengthen relationships with grantees and other community partners, and better measure and communicate outcomes.”
The types of software available for grant management include:
Grant management software
This software is available for free or as part of a paid subscription. It can be used to manage all types of grants, including government, foundation, and private sector grants.
Grant management services
This service is available either through an outsourcing vendor (such as the Grant Management Institute) or directly from the grant administration software provider. These services simplify and streamline the process of managing grant applications and other financial documents and information related to grant funding.
Why Organizations Should Embrace Tech in Grant Management
A grant program’s administrative and management aspects are often overlooked in the grant management process. For an organization to effectively manage a grant program, it must understand how technology and technology solutions will help. The following are some of the benefits that organizations can expect from using technology in grant management:
Recent research shows that almost half of all nonprofit organizations have experienced a decline in the number of grants they receive because they did not have a plan to manage those grants. Organizational leaders and managers can utilize technology to streamline grant applications, reduce paperwork, and increase efficiency within their organization.
Technology can reduce costs, streamline processes, and improve timeliness for grant applications. Technology can help an organization reduce the amount of time it takes to complete a grant application.
Organizations can also use technology to improve the timeliness of their grant applications and make it easier to track the status of those applications. Technology also helps organizations create custom reports that will allow them to better track funding activity and provide them with more detailed information about those activities.