Focusing on constituents and supplying the services and outcomes expected from grants are the main areas of focus for grants managers across the country. Whether managing housing, scientific research, environmental or transportation projects, grants managers must still track and report on the progress of funds and performance milestones.
To streamline the grants management process and achieve efficiencies, many organizations are now turning to grant management software.
The Rise of Business Technology Solutions
Return on investment for software that enables and automates business activities has become common over the past decade. From electronic banking to car rentals to online shopping, we have seen adoption of software that streamlines and improves customer service.
Improving grant management by standardizing data elements and reducing redundancy, as called for by the recently passed DATA Act, heightens the need for more modern IT approaches to assist with traditional grant management techniques. Use of software such as AmpliFund can provide real return on investment for organizations managing grants.
The ROI of Grant Management Software
Some examples of returns on investment for grant management software adoption include:
- Providing consistent and up-to-date information on funding and spending to improve decision-making.
- Automating reporting functions to reduce burdensome data collection and verification processes.
- Enabling measurement of performance metrics to determine progress towards goals.
- Improving transparency by having more readily available useful information available regarding grants.
- Freeing up resources from routine administrative functions to provide more constituent services.
As with many business IT applications, software improvements can provide efficiencies that streamline workflow and reduce time spent on routine tasks. All of these benefits from modernizing grants management can result in an improved focus on constituents.
In short, grant management software empowers organizations with full visibility into their grant programs, resulting in more efficient operations, more accurate performance data, greater internal capacity and better constituent services.
To learn more about finding the ROI of grant management software for your organization, download StreamLink Software's report.