Our IMPACT cloud-based data service provides an organizational approach to grants management.
Managing grants is a complex process, whether they emanate from public or private sources. As a grant recipient or grantee, one common requirement bestowed upon by the Grantor is the reporting of their progress towards the goals underlying the grant. Grant requirements range from program performance and outcomes to administrative and financial reporting. An organization that utilizes grants as a source of funding can find compliance with these reporting requirements laborious and expensive. These organizations often have multiple grant awards that must be tracked simultaneously. Each of these grant awards have unique data collection and reporting requirements, which further increases overhead costs associated with reporting obligations. These organizations may also be subject to site visits and audits making easy access to centralized, well organized data and information even more critical.
Frequently, the Grantee is also responsible for the management and distribution of funds to other organizations. These organizations are often referred to as sub-recipients. Additional management tools are needed to effectively manage these organizations. For example, sub-recipients may need to obtain approval before utilizing grant funds for the delivery of services. These sub-recipient organizations also need a grants management system to help comply with the various approvals and reporting requirements they are expected to comply with as a grantee.
A successful grants management system helps an organization manage its resources by collecting the critical data needed for compliance and to help it sustain the programs it manages. Centralized data collection allows for an organization to have a complete picture of the activities conducted with the funds received. A well-conceived grants management systems should also be capable of providing the data needed to assist the organization with the preparation of applications for additional grants; further improving the overall sustainability of their efforts.
A complete understanding of an organization’s operation drives the grants management process. IMPACT has been designed with the understanding that organizations receive and manage multiple grants simultaneously. While the reporting requirements may vary from grant to grant, if designed properly, a single data collection and management system can streamline the efforts required to manage these requirements.