The Reasons Why Grant Management Software is on the Rise
Writing grants can be a complex process and one requiring plenty of specialized knowledge. It’s also a process requiring plenty of organization, so it’s no surprise many organizations are now turning to grant management tools to help manage things and make sure nothing is missed along the way.
While some existing software may be designed to help with fundraising efforts and may already have built-in programs to help with the process, it typically isn’t sophisticated enough to help with how complex grant management can be. Online grant management software is on the rise, with more organizations than ever incorporating it into their processes. There are numerous reasons this is the case, and knowing its benefits and what it has to offer can help an organization decide whether this type of software is right for them and their needs.
Grant Management Software Helps Manage Relationships
Typically many different individuals are involved in grantmaking, which is just a small part of what makes these procedures challenging. It’s also one of the factors about grantmaking that can lead to miscommunication or missed steps in the process. The best grant management software helps rectify this issue because it connects everyone involved and allows them to communicate much more efficiently when it comes to grantmaking. When everyone involved can see what is happening, it is less likely a miscommunication will occur, and it is also far less likely a step in the process will be missed. This can also ensure a grant will be able to go through, and opportunities will not be missed due to simple errors.
Grant Management Software Automates the Workflow
The typical grantmaking process runs on a singular lifecycle, and while this makes it sound as if it would be easy to follow a grant from beginning to end, it can actually make things quite complex. From the initial request for the grant to the grant approval and reporting processes, everything needs to be moving along at a good pace. If at any point the grant gets jammed up and is not moving as it should, the entire process of getting the grant can become slowed down, all because of simple issues with individuals not knowing what should be done or what part of the grantmaking process needs to be taken care of next.
With the best grant management software, everything in the lifecycle of the grant is automated so it continues to move along in the process as it needs to, even without the input of any users. This helps ensure the grantmaking process continues and keeps things moving from individual to individual. It makes things much simpler for everyone involved as well, as nobody needs to do any additional work to make sure all the parts of the cycle are continuing as they should be.
Grant Management Software Gives Access to Grantees
While it may seem as if it’s one of the simpler things the best grant management software can do, great systems can give access to grantees and organizations. There are many reasons this is great for both sides. Perhaps the greatest benefit online grant management software offers grantees is that it provides everything they need if they are looking to interact with an organization. Grant management should not be taken lightly, and the process is made much easier with the appropriate software you can rely on.
Grant Management Software Encourages Transparency
Honestly is always the best policy, but the unfortunate reality is people can sometimes be untruthful, especially when money is involved. This is another reason why many organizations and grantees are turning to grant management tools to help during the grantmaking process.
Through the use of these tools, it is much easier to keep track of everything happening during grantmaking, from the initial grant proposal and request through to the money being dispersed. Being able to keep track of everything is a great way to encourage transparency every step of the way. It also gives all individuals involved additional assurance in the accuracy of all the information used throughout the process, something else of importance.
Finding the Right Grant Management Software for Your Needs
Grant management software is indeed on the rise, which also means it is now easier than ever before to find this type of software if you are interested in using it for your organization. However, with various types of grant management tools now available, it also becomes important to know how to find the best one to use according to how you plan to use it and which one is the best for your overall needs.
Among the most important things to think about are the tools included in the software, how you plan to use it, and what aspects of the software are most important for your needs. However, the number of people who will be using it is also a vital factor to consider – be sure the software you choose can support the number of users you plan to have accessing the system.
Though it may seem somewhat complex compared to other types of software, grant management tools can do much for your business and are well worth thinking about if grantmaking is a regular part of your job. Nonprofits, in particular, can reap tremendous benefits by implementing grant management tools and investing in them, especially when they need to find a way to get a large group of people working together toward a singular goal.
At NonProfit+, we can help your nonprofit organization with managing grants using cloud ERP software tailored to your needs. If you would like to learn more, contact us or take a free product tour. Pricing starts at $8,700 per year for 5 users. We also have and are known for our unlimited user system. We look forward to connecting with you to provide greater efficiency, accessibility, and productivity.
Written by: Bill Dean